HomeMy WebLinkAbout08 06 2015 Technology Village Agenda Packet GV
Technology Village Board of Directors
Meeting Agenda
H �
Thursday, August 6, 2015
7:30 a.m.
���OR LN�` City Hall, Little Prior Conference Room
1. Call to Order
2. Approval of Meeting Minutes
a. July 2, 20.15
3. Old Business
a. Lunch and Learn Event Update
b. Technology Village 'Virtual' Pilot Program
4. New Business
a. Accept David Rech Resignation
b. Appoint David Rech as a Technology Village Advisory Board Member
c. Preliminary Technology Village 2016 Budget
d. Technology Village Website - FAQ
e. Next Participant Breakfast Meeting
i. Dave Rech Contact Regarding Financing Education
ii. Christine Pigsley, Open to Business
f. Open to Business and First Stop Shop Meeting Update
5. Staff Update
a. Technology Village Metric Report—July 2015
i. Consider adding a metric that identifies,the program's benefit to the residents
of Prior Lake
ii. Subcontractor—this would be additional community buying power versus just
FTE's
iii. Net Consumer Spending —poll the participants from time to time for
estimation on local spending habits (Support R01)
b. Fall Community Fest Booth
i. Monday, September 21, 2015 from 6:00 pm to 8:30 prn at PLHS
c. Action Item Update
d. Board Member Ideas/Recommendations
6. Adjourn
Phone:952.447.9813/Email:drogness@cityofpriorlake.com/www.cityofpriorlake.com
CITY OF PRIOR LAKE, MINNESOTA
TECHNOLOGY VILLAGE BOARD OF DIRECTORS
.R L MEETING MINUTES—July 2, 2015
1. Call to Order
The meeting was called to order at 7:31 a.m. in the Little Prior Conference Room at City Hall. Members present: Gerry
Hughes, Lori Frank, Ken Hedberg and Adam Proehl. Members absent: Dan Stratton and David Rech.
Staff present: Casey McCabe.
2. Approval of Meeting Minutes
a. May 14,2015
MOTION BY FRANK and SECOND BY PROEHL to approve the May 14, 2015 meeting minutes. The motion
was approved 4-0.
b. June 3,2015
MOTION BY HEDBERG and SECOND BY PROEHL to approve the June 3,2015 meeting minutes. The motion
was approved 4-0.
3. Old Business
a. Lunch and Learn Event
Frank: informed the board that her contact to present on the topic of receipt of payment(liability and security) is
not available during July and August.
Board Members:discussed other options for the lunch and learn event including banking or sales presentations.
Board members favored a lunch & learn discussion around the sales process including process improvement
and pipeline generation.
Hedberg: offered to contact Pivotal Advisors to see if they would be interested in presenting to program
participants and other Prior Lake businesses. Mr. Hedberg will contact Pivotal Advisors and follow up with staff.
4. New Business
a. Technology Village`Virtual' Pilot Program
Hughes: summarized the discussion of the `Virtual' Technology Village pilot program from the last Technology
Village work session.
Hedberg:commented that the board should pursue expanding service providers beyond the Technology Village
Board of Directors.
Board Members: reviewed a draft program outline and provided direction for staff to update the outline. Board
members will review the updated outline at a future meeting.
b. Board of Director Meeting Dates/Times
Board Members: discussed rescheduling meeting dates/times to accommodate all board members. The board
determined the 1St Thursday of each month from 7:30—8:30 a.m.would work for the regular board meeting. The
work session meeting date/time will remain on the 3rd Wednesday of each month from 7:30—8:30 a.m.
Phone:952.447.9813/Email:drogness@cityofpriorlake.com/www.cityofpriorlake.com
Board Members: directed staff to send out a meeting invitation to all board members to reflect the change in
meeting day/time.
c. Lakefront Days Booth
McCabe: informed the board that at the last work session the board talked about having a booth at Lakefront
Days to generate awareness of the Tech Village program. The board asked staff to check with the Prior Lake
Chamber to determine the cost and see if this would be a good use of board time. Staff spoke with the Chamber
office to determine a cost and the Chamber recommended the fall community fest at PLHS would be a better
opportunity for a Technology Village booth.
Board Members: asked staff to coordinate a Technology Village booth near the City of Prior Lake booth for fall
community fest.
d. Phase II Program Participant Inquiry—RE2 Technology
McCabe:informed the board that staff received a program inquiry from RE2 Technology,a home-based business
looking for office space and support. Mr. McCabe added that staff has met with RE2 Technology and provided
application information and available office space listings. Mr. McCabe will follow up with RE2 Technology and
if the prospective participant is interested, Mr. McCabe will schedule a meeting between RE2 Technology and
Mr. Hughes.
5. Staff Update
a. Technology Village Metric Report—June 2015
Board Members: reviewed the June 2015 Technology Village metric report. Proehl requested the analytics
information and offered to research the metrics and determine what is causing the high number of site visits over
the past few months.
b. Linkedln Promotion
Board Members: reviewed updates to the Technology Village marketing information to be sent out via Linkedln.
Board members also suggested adding a page in Word Press with the marketing information and send a link out
to all members through Linkedln which can be shared with the board member's network.
c. Action Item Update
Board Members: reviewed and discussed the pending action items.
d. Board Member Ideas/Recommendations
Hughes:directed staff to add acceptance of Dave Rech's resignation to the August meeting agenda. Mr.Hughes
also asked staff to add an agenda item related to the appointment of Dave Rech as an Advisory Board member.
6. Adjourn
MOTION BY PROEHL and SECOND BY FRANK to adjourn the meeting. The motion was approved 4-0. The meeting
adjourned at 8:28 a.m.
Submitted by: Casey McCabe
Technology Village Business Accelerator
"Virtual' Accelerator Program
Along with the Phase I and Phase II accelerator programs, which rely on a program participant being
physically located in an office space within the City of Prior Lake, the Technology Village Business
Accelerator offers a 'virtual' participant program designed to provide support to emerging technology
and professional service businesses located in Prior Lake which are not physically located in the
designated Technology Village or private commercial space. The virtual program provides an
opportunity for businesses to participate and benefit from the Technology Village Business Accelerator
program without maintaining a commercial office location.
For a small monthly fee of$50, virtual program participants will receive the following benefits:
• Mailbox service
• Professional mailing address/business identity
0 1_�iinlr_frpp Prinr 1 -4Lo Cha mhor of remmor�o moFnhiarr..
• Access to Technology Village Business Accelerator services, including:
o Board advisory support/mentoring
o Business assessment
o Quarterly goal review
o Business networking
o Referrals to professional service providers
• Networking and collaboration opportunities with other program participants
• Inclusion in all Technology Village programs and meetings designed to assist with business
development
• Inclusion of company information on the Technology Village website
• Access to conference rooms and meeting space (16 hours/month)
• Access to coworking office space (including free access to Wi-Fi and access to high speed
internet within the coworking office location)
o Conference rooms and coworking office space are reserved on a first-come, first-serve
basis by contacting City of Prior Lake staff at (952)447-9800 (24 hour notice required).
Virtual participants are provided a monthly total of 16 hours of conference room time
and 32 hours at the coworking office space.
A simple virtual participation agreement will be entered into between the City of Prior Lake and the
participant business. The agreement will identify the services that will be provided to the participant
and the expectations of the Technology Village Board of Directors. The term for virtual membership
will be month-to-month and there will be no "equity investment recapture" in the event the participant
business relocates to another community.
The intent of the virtual program is to provide the entrepreneurial support network necessary to
accelerate business growth primarily for home-based businesses.
All prospective program participants shall be residents of the City of Prior Lake. Interested parties
should contact Technology Village Executive Director, Dan Rogness, at drogness@cityofpriorlake.com
or (952) 447-9813 or visit our website at www.technologvvillage.net.
Casey McCabe
From: Dave Rech <daverech@aol.com>
Sent: Wednesday,July Ol, 2015 627 AM
To: Casey McCabe; gerry@mnhughes.com; 'Adam Proehl'; Ken Hedberg;
Ifrank.mn@gmail.com; 'Dan Stratton (CC)'; Dan Rogness
Cc: Frank Boyles
Subject: Moving out of Prior Lake Aug 12th
Hi All,
It's been very hectic for all of us lately but wanted to give you an update on my status.
Our home is sold and we've found a new one in Eagan and we close on August 12th. ,
Packing 13 years of stuff in six weeks is going to be painful.
Anyway, per our charter I have to resign my board position since my business isn't
based in Prior Lake and I will no longer reside here. In the past we've discussed roles
that allow for participation by outsiders and I'd like to ask the board to consider this
situation again in regards to me, as it's just too soon for me to walk away from this
great venture. I still think I have more to offer and can help, even if not living in Prior
Lake.
I am officially tendering my resignation as a member of the Board of the Prior Lake
Technology Village, effective August 12th, 2015.
Even if there is not an official role for me to play, I hope you'll feel you can always call
or email if there's anything I can do to help. The next few weeks are nuts, but I will do
my best to stay engaged.
Thanks for all your support and your willingness to help this great community and this
venture. The project is in great hands.
Dave
David: Rech
Team Solutions Realtor
Coldwell Banker Burnet
www.DaveRech.com
djrech@cbburnet.com
952-250-3040
DO YOU KNOW SOMEONE LOOKING TO BUY OR SELL A HOME?
YOUR REFERRAL IS THE GREATEST COMPLIMENT!
1
TECHNOLOGY VILLAGE - PRELIM 2016 BUDGET
T.V.Meeting 2015.08.06
2015` 2015- 2016,
Original' Amended Proposed
Budget "Budget Budget Comments
Fes/Sources:
s for Services
0lPropertyTaxes 34,000 34,000 22,000 95%Occupancy Rate in 2016
Intergovernmental Revenues
34760 Incubator Leases 6,000 6,000_ 10,000
Total Revenues/Sources $ 401000 $ 40,000 $ 32,000
Expenditures/Uses:
46503 Technology Village o gy age Incubator
201 Office Supplies 500 500 500
304 Legal Fees - - -
309 Software Design - -
321 Communications 5,000 5,0,00 5,000
433 Dues&Subscriptions .2,500 2,500 21500
437 Miscellaneous 2,500 2,500 2,500
520 Building&Structures - -
560 Furniture&Fixtures 1,500 1,500 1,000
580 General Equipment 1,500 1,500 1,000
xxx Business Assistance 3,000 3,000 3,000
xxx Rent Subsidies 23,500 23,500 16,500 ICP+two Phase II businesses
Total Expenditures/Uses $ 40,00.0 $ 40,000 $ 32,000
Frequently Asked Questions (FAQ)
1. What is the Technology Village Business Accelerator?
The Technology Village Business Accelerator provides services and a professional office environment
to support and accelerate the development of emerging technology and professional service
businesses. The objective is for program participants to grow their start-up business within the
accelerator and establish a permanent business presence in Prior Lake.
2. How would the program benefit my start-up business?
Businesses that choose to start-up in an accelerator program provide themselves with an advantage
over businesses who start-up on their own. Program benefits include keeping costs manageable while
your business is growing and free advisory support and assistance from a Technology Village Advisor
and the ability to network and share ideas with other companies in a similar position.
3. What services are provided?
Technology Village provides program participants with an affordable and customized lease,furnished
offices, development assistance, and guidance from experienced business professionals, shared
conference rooms and office equipment, education programs and networking opportunities with
other entrepreneurs and community organizations.
4. Is my start-up business eligible for the Business Accelerator?
While the Technology Village program was established to assist primarily emerging technology and
professional service businesses, all applicants are welcome and encouraged to apply.
5. Do I have to give up equity in my business to participate in the Technology Village program?
No.
6. How do I apply?
Application materials can be found on the Apply page. For additional information related to the
application process, please contact Dan Rogness at.drogness@citvofpriorlake.com or(952)447-9813.
7. What kind of Internet access is available?
Participant companies located in the City Hall office space have access to a shared, high-speed
Internet connection.There is also a convenience wireless network within the designated Technology
Village City Hall office space. Participants located outside of the City Hall space are responsible for
securing their own Internet connection.
8. How much are lease rates and what is included in the lease rate?
Program participants pay an escalating rent payment over the lease term and the payment received
is used to subsidize Technology Village program operations. A market lease rate of$15 per square
foot has been established for the hard walled office area. A participant business is only required to
pay$5 per square foot for the first year,$10 per square foot for the second year,followed by$15 per
square foot during the third year of the lease term.
In addition to the annual lease savings, the Technology Village Board has established an estimated
value of$18.19 per square foot for program costs paid for or provided by the City of Prior Lake. These
services, which are provided at no cost to program participants and are detailed in each lease
agreement include; program management, city staff time, office equipment, furnishings, property
insurance, janitorial service, grounds maintenance, snow removal, common area building
maintenance, equipment maintenance,trash removal and payment of utilities including gas, electric,
sewer and water.
These no cost services and below market lease rate savings are considered the City of Prior Lake's
"equity investment" in the participant's business. The lease agreement requires the equity
investment to be repaid to the City of Prior Lake should the business relocate to another community
prior to or upon graduation. If the business remains in Prior Lake, or Scott County at the EDA's
discretion,for a term of five years after graduation the city's equity investment will be forgiven.
9. How long is the lease term?
The standard lease agreement is for three years; however,a program participant is eligible to relocate
their business to any Prior Lake location at any time during the lease term with no penalty.
Additionally, if the program participant business ceases operation during the term of the lease the
lease agreement may be terminated without penalty.
10. Is the Technology Village Business Accelerator program available to only Prior Lake residents?
No. Anyone who is interested in growing and maintaining their business in Prior Lake is welcome.
11. What if my company doesn't need office space but would like to take advantage of the services?
Companies that already have their own home office or commercial space, but still want to utilize our
services, can apply to the `Virtual' Accelerator Program. Virtual participants pay a monthly services
fee and have access to everything the program has to offer.
12. What is the Virtual Accelerator Program?
The Virtual program allows the same services to be provided to program participants that are not
located within the accelerator office space. These services include, but are not limited to, advisory
support, access to common work areas and a mailing address.
13. How long can I remain in the accelerator?
The goal of the Technology Village program is to support participant companies in a way that will
enable them to graduate from the accelerator in three (3) years or less. Participants typically begin
with a standard, three-year lease; however, participants may graduate and leave the program prior
to the lease expiration with no penalty.
14. What is expected of accelerator participants?
Board of Director Advisors work with participants to develop milestones that are agreeable to both
parties. These milestones may include benchmarks for product development, funding, or customer
acquisition. The advisor will conduct a quarterly reviews of a participant's progress toward these
milestones.
Participants are expected to show progressive growth in business development and must adhere to
the terms of the lease.
15. Do I need a business plan?
A business plan is not required to qualify for admittance into the accelerator program; however, a
business plan should be developed within the first year.
16. What are some of the current start-ups involved the Technology Village program?
A list of the current Technology Village participants, including brief descriptions and website links,can
be found on the Program Participants page.
17. What is Graduation?
Graduation is when a participant company has matured to the point that they do not need accelerator
assistance regularly and are ready to have their own facilities. Usually the participant has reached a
level of financial stability and employee growth that enables them to be fully functional on their own.
18. Where is the Technology Village Business Accelerator located?
The Technology Village Business Accelerator has offices within Prior Lake City Hall at 4646 Dakota
Street SE, Prior Lake, MN 55372. The Technology Village program also works with participant
businesses who have private office space within the City of Prior Lake.
19. How can I find out more information?
If you are interested in learning more about the Technology Village Business Accelerator please
contact Dan Rogness at drogness@citvofpriorlake.com or(952)447-9813.
Casey McCabe
From: Dan Rogness
Sent: Monday,July 13, 2015 1:56 PM
To: Casey McCabe
Subject: FW:Technology Village Financing Discussion
FYI
From:Joey Smith [mailto:joeys@fidelitybankmn.com]
Sent: Monday,July 13, 2015 1:53 PM
To: Dan Rogness; Gerry Hughes; Dave Rech
Subject:Technology Village Financing Discussion
Gentlemen.,
I was recently introduced to, and met with, Dave Rech. We discussed Technology Village. I expressed interest
in giving an educational talk regarding raising capital in the tech industry. I would discuss at length, the process
of obtaining bank financing. I'm a Commercial Banker with Fidelity Bank in Edina and I have experience
lending to companies in the tech industry. Feel free to check out my LinkedIn profile;
https://www.linkedin.coM pub/joey-smith/39/590/620
Let me know what I need to do to get on the calendar.
Thank you,
Joey
Joey A. Smith
Commercial Banker/Business Development
Phone: 952-830-7266
Fax: 952-831-1828
Email: joeysCcbfidelitybankmn.com
www.fidelitybankmn.com 7600 Parklawn Avenue Edina, MN 55435
Casey McCabe
From: Gerry Hughes <gerry@mnhughes.com>
Sent: Monday,July 20, 2015 11:31 AM
To: Casey McCabe; Ken Hedberg; adam@nordicClick.com;Adam Proehl;
Ifrank.mn@gmail.com; Lori Frank; Dan.Stratton@ShakopeeDakota.org;
daverech@aol.com
Cc: Dan Rogness
Subject: Open to Business/First Stop Shop Meeting of 7/16 Notes and Action Items
Board Members ., below are the updates and action items from our recent meeting below.
The goal of the meeting with Open to Business (Christine Pigsley) and First Stop Shop (Stacy
Crakes) was to discuss current state of Technology Village (""TV") business accelerator program
and how we can we better collaborate our services to support our mission.
Below are the action items from our meeting:
1. Casey will add the Open to Business Services verbiage provided by Christine out our N
website services tab
2. Casey will add both companies logo's and www links to our N website partners tab
approved by both attendees.
3. Both attendees would like to be invites to future Lunch & Learn events
4. We can invite Christine to a future participants breakfast to discuss their services in
more detail
5. Both Christine/Stacy will follow N Linkedln company
6. Christine will provide me some past sample virtual program agreements from Dakota
College
7. First Stop Shop and Open to business most likely will be moving into available space in
Shakopee since Scott County sees value in their programs for EDA services
8. Christine suggested that we only engage with scale (small business consulting) in
Burnsville based upon her experience and look for specific skill set to engage in any N
education discussions (services, development, etc.)
9. N website additions: create a Q&A document for consumers and participants to review.
(Eg. What we are and what we are not?) Any questions and answers to provide more
clarity around our business accelerator program.
10.Christine believes the nearest business accelerators attempting to get off the ground is
South Central (Faribault Campus — Mankato State) and River Land — Community College
Campus.
11.Christine see Prior Lake being the cross roads to South Metro being a great location for
more business accelerator growth
12.Suggested N additonal metrics:
a. Subcontractor—this would be additonal community buying power versus just
FTE's
b. Net Consumer Spending— need to pull the participants from time to time for
estimation on local spending habits (Support ROI)
13.First Stop Shop provides all Scott count residents and our business access to marketing
analytics data from the library for business research. You can get access to this
marketing content by having a library card. We may want to have Stacy demo this
content during a participation breakfast.
14.Stacy would like to discuss with the TV in the future how was can provide a potential
shared services model for Shakopee to roll out a business accellarator program within
about 1200 SQ feet start up that will be available after they move in.
From: Christine Pigsley [mailto:cpiasley@mccdmn.orq]
Sent: Friday, July 17, 2015 12:16 PM
To: Gerry Hughes
Cc: Stacy Crakes
Subject: Verbiage for the website 'I
Open to Business Services
Scott County Open to Business Program
The Open to Business program is sponsored by the Scott County CDA and its First Stop Shop (http://scottfss. This
program offers free, one-on-one, confidential business consulting to help entrepreneurs living or operating in Scott County
through the process of growing, improving, sustaining, or starting their businesses. Christine Pigsley, your Open to
Business advisor is available by appointment to provide assistance to help you plan and work through your small business
issues and to help make strategic business decisions based on their business and personal situations.
Areas of Free Technical Assistance
We assist entrepreneurs in the following areas, including but not limited to, accounting and record keeping, business
acquisition, business start-up, all aspects of business plan development, cashflow financial, and business analysis, loan
packaging, networking, operations, strategic planning, and commercial real estate analysis.
Access to Capital/Funding
Your Open to Business advisor can also assist with identifying borrowing needs and accessing financing options. We
work with clients to help them local financial institutions that work with small businesses and our parent organization
(MCCD) also provides direct financing and loans in partnership with banks and credit unions. Funds can be used for
inventory, working capital, asset and equipment purchases, real estate acquisition, and start-up costs. Grants and
forgivable loans?Well, in some cases there are limited grant resources available for special business types, personal
situations, and types of activities being financed. We also work with clients to assess their viability for equity funding
through angel investors and crowdfunding.
To learn more or schedule an appointment contact Christine Pigsley at 612-843-3277 or cpigsley(cr�.mccdmn.orq
2
..l
Technology Village a Goals and Metrics -
(July 1-31, 2015)
Mission Statement: Technology Village supports the growth of emerging technology-based businesses within
an entrepreneurial environment that encourages collaboration, fosters job creation and provides connections
to local and regional resources.
2013 Goals
➢ Acceptance of three program participant applications in 2013.
➢ Develop a system to track and report on the listed metrics.
➢ Establish a network_ of financial resources — MN Angel Network, bank financing, Small Business
Development Center, City of Prior Lake loan and/or grant funds, etc.
➢ Technology Village Phase II Progress: develop a Technology Village Phase II Business Plan.
2014 Goals
➢ Obtain funding approval necessary to maintain Phase I and then fully implement Phase II Business Plans
➢ Support and retain existing Technology Village businesses through direct assistance, networking-and
resource development
➢ Establish an adequate pipeline of technology businesses that will allow the continued full use of the
Technology Village program
2015 Goals
➢ Continue to support and retain existing Technology Village businesses through direct assistance,
networking and resource development.
➢ Establish a pipeline of technology businesses that will allow the continued full use of the Technology
Village program while retaining the six existing program participants and identifying a minimum of two
additional program participants.
➢ Develop a plan to transition into Phase III of the Technology Village Business Plan, which includes
identifying additional funding sources to support a stand-alone facility. Phase III would allow Technology
Village to expand its primary focus of supporting technology related businesses to a wider variety of
businesses.
2015 Key Performance Metrics
o Program Participant Contacts: Quarterly meetings between existing program participants and Technology
Village Board of Director Members.
Technology Village BOD Quarterly Meetings
Program Participant Q12014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015
design a tivity X X X X X
ICP X X X X X
Valde Group
MyCarte X X
Local Vibe X X
etaKnowledge X X
iWMS Global
Assigned program participants board sponsors are as follows:
• Design a Tivity—Rech • Local Vibe—Frank
• ICP—Hughes • eta Knowledge LLC—Hughes
• Valde Group—Stratton • iWMS Global—Proehl
• MyCarte—Proehl
oProgram Partici......................pants: num.............................................................ber................of businesses participating.....................................................................................................................................................in th...................e Technology Vil...........................................................................lage Program.......................................-..................................
Program Participant Businesses
8
7
6
6
t <
c�C
.; q,
Y •C.' �
4 � S
F t
) { t{
,
a�- )��, a �'� N� 5a t; a �� `5- � g�1ti s\: 5�� `•�d �-� `�"` 5`'. �oti]�.
: 2: .-yY Sd�' �...`.:. .... .^�. y� _r� ,•w.., .-... ?Vy '4. J o .2,y.L-
:..:. -.. �: ,`y, s? �.t:.. d�s.J 1fi�.? hJ >..a l,`T 5 r i '•:3 Jtda �:.�. 'Xy wX•F
,.,, :mei h. 'w' 'A.. "d- i•{� '71d y5.• •py ;p \')C�i:. �,
�A, >��, °�,Y °�,Y >a�, a�, aA,
... ........ ..._........._............ ......... ................................................ ........_............. .... ........................................._.... ......................................_._ .. .. .....
o Employment: number of people currently employed by program participants.
. ........... ......... ..... ....._ __................ ..__... ......_.......... .._.._. ........_ ... _.... ....... .... .... ................ ......... ..........
Total Employees
25
22 22 22
20 20
20
16 16 16 16 16
14
15 13:.13 13..
10 g
4
5
5 -
2
0
m m m m Itt -It d- lqt tet- d- Izzr d- d- d- d- Ln Ln Ln Ln Ln Ln Ln
.......... ..... ._..... ..................................... ........ ......... ................. ........_ ...._. ........... ...... _.._
o Vacancy/Occupancy Rate: percentage of City Hall Technology Village space under lease agreement.
...... . . .....
CityOccupancy HallRate
100.0%
90.0% ,, _ _ . . . .... . ...
80.0% ;.
70.0
60.0%
50.0%
40.0
30.0%
20.0
10.0
0.0%
ti� ti� ti� ti� tib` tib` tib` tib` tib` ti� ti� ti� ti�
aA >��, �, °0, >'a�, a�, aa, qz�, °J, a�,
*Assumption-1,211 total leasable square feet
o Total Square Feet Leased; public (City Hall) and private office space.
SQUARE FEET LEASED
5,000
4,500
r
4,000
3,500
3,000
2,500
Mo Nis
2,000.
1,500
11000 -
500
H. __.
m m m m m m m m m m m m d- d- d- d- d- d- � d- It d- I;t � Ln Ln Ln Ln Ln Ln Ln
0 4- > �- >, — an a a-1 > —
aiQ Q O CU
z o L Q Q O z Wc � L Q.
Public a Private
o Applications: number of program applications received, reviewed and accepted.
Application Process
6
6 _._.
5
4
4 _ w
333 3 3 3 3 3
3
C
2 2 2 22
222 2 2.
E ;u
2 :......
0 .........
1st Q 2nd Q 3rd Q 4th Q 1st Q 2nd Q 3rd Q 4th Q 1st Q 2nd Q 3rd Q
2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015
■Inquiries ■Applications Received Applications Approved Lease Agreements Signed
o Website Activity:total website hits,website hits by unique IP address and pages visited.
Visits
Unique Pages Avg.Visit Bounce %New
Visits Vi s i ted Duration Ra to Visits
Sep-13 27 24 2.93 2:08 51.85% 88.80%
Oct-13 36 21 3.31 2:27 55.56% 55.56%
Nov-13 49 33 3.80 4:44 28.57% 63.27%
Dec-13 65 57 2.97 1:33 55.38% -75.38%
Jan-14 83 67 3.22 2:34 50.60% 72.29%
Feb-14 58 50 2.74 2:09 51.72% 84.48
Mar-14 86 -82 2.66 1:10 63.95% 93.02%
Apr-14 68 64 2.43 0:51 54.41% 86.76%
May-14 49 38 3.71 2:45 51.42% 73.47%
Jun-14 81 65 3.36 1:55 51.85% 77.78%-
Jul-14 103 98 1.69 0:33 75.73% 93.20%
Aug-14 104 90 2.58 1:19 68.27% 83.65
Sep-14 113 104 1.99 0:54 74.34% 87.61%
Oct-14 98 94 1.63 0:23 72.45% 90.82
Nov-14 127 119 1.89 1:51 81.89% 92.13
Dec-14 187 145 1.78 1:14 78.61% 74.87%
Jan-15 103 62 2.98 3:14 55.34% 60.19%
Feb-15- 84 59 2.99 2:01 48.81% 70.24%
Mar-15 179 158 2.18 1:22 77.09% 88.27
Apr-15 157 134 1.96 1:08 52.87% 85.25
May-15 710 669 1.58 0:57 65.92% 94.23%
Jun-15 354 325 1.40 0:26 89.27% 91.81%
Jul-15 296 268 1.67 0:58 78.72% 90.54%
o Rental Payment Status
2015
Program Participant Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec.
design a tivity x x x x
ICP x x x x x x x
Valde Group x x x x x x x
MyCarte x x x x x x x
Local Vibe x x x x x x x
etaKnowledge x x x x x
iWMS Global x x x
l ,,�s
V
Pending Action Items
➢ Coordinate August or September work session meeting with Harlan Jacobs; provide a list of discussion topics.
(Lori)
➢ Discuss program collaboration/promotion opportunities: Open to Business, Scott County Scene, county libraries,
Scott County Government Center, banks, accountants, etc. (all)
➢ Inform Scott County Open to Business&FSS when the lunch and learn is scheduled so the event can be promoted
through that pipeline also. (staff)
➢ Contact Pivotal Advisors to see if they would be interested in presenting at an upcoming lunch & learn session.
(Ken)
➢ Suggested additional TV metrics:
o Subcontractor—this would be additional community buying power versus just FTE's
o Net Consumer Spending—need to pull the participants from time to time for estimation on local
spending habits (Support ROI)
o Add a metric that identifies the program's benefit to the residents of Prior Lake(A. Thompson comment)
Continuous Action Items
➢ Select resources to contact and introduce Technology Village.
➢ Coordinate Linkedin/Facebook marketing and PR campaign(lunch &learn event promotion?)
➢ Look into other options to market/promote Technology Village including Scott County newsletter and placing the
Technology Village ad on Prior Lake public access TV.
➢ Consider writing a blog or utilizing another social communication platform to promote business opportunities in
Prior Lake.
➢ Discuss options for modifying the equity investment repayment options in the lease agreement. (all)
Completed Action Items
naument is reneoyerl liahilifv sena 16ty efn 11 nril
> > >
Tenhnnlnay Villene nrnnrnm Ief�ffl
urrl
st Immani (e+�ff1
➢ '
� rl
ne, brzfpffl
DQualnn en enenrlp fnr� Arlen I� e
nnhe mefinn befAffl
'lizahnninav . tsfaiq
kw k
V