CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Shani Coleman, Director of Community & Economic Development |
Recommendation:
title
Approve an Amendment to the Contract with StartUpNV for a Diversity, Equity and Inclusion (DEI) Startup Business Incubator and Seed Fund program; and authorize the County Manager or his designee to sign the Amendment; or take other action as appropriate. (For possible action)
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FISCAL IMPACT:
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Fund #: |
2981.600 |
Fund Name: |
County Recovery Funds |
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Fund Center: |
9990108721 |
Funded PGM/Grant: |
2.9 OUTRCH |
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Amount: |
Not to exceed $1,675,080 |
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Description: |
Clark County Fiscal Recovery Funds |
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Additional Comments: |
N/A |
BACKGROUND:
November 1, 2022, the Board of County Commissioners approved an award of $600,000 in Clark County Fiscal Recovery Funds to local non-profit, StartUpNV, to develop a new entrepreneurship assistance program focused on underserved communities most impacted by COVID-19.
The DEI Startup Business Incubator program was to run for a two-year period until December 31, 2024, to provide hands on training for first time entrepreneurs to evolve to venture capital worthy businesses. Participants attend a five-week bootcamp with subject matter experts and mentors in a co-working facility designed to foster innovation.
This Amendment extends the contract through July 1, 2026, offering up to three additional five-week bootcamps and provides 50 seed funding grants up to $25,000 for graduates of the bootcamp program.