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HomeMy WebLinkAbout08 01 2017 Technology Village Minutes CITY OF PRIOR LAKE, MINNESOTA TECHNOLOGY VILLAGE BOARD OF DIRECTORS MEETING MINUTES – AUGUST 1, 2017 952.496-8830 – jfoust@scottfss.org - www.technologyvillage.net 1. Call to Order The meeting was called to order at 7:31 a.m. Present: Gerry Hughes, Adam Proehl, Sarah Jones, Patrick Stroh and Zach Braid. Staff present: Jo Foust (FSS), Alyssa Meierbachtol (FSS Intern) and Open to Business Advisor John Endris. Absent: Lori Frank, Dan Stratton and Community Development Director Casey McCabe. 2. Approval of Meeting Minutes a. July 18, 2017 MOTION BY JONES AND SECOND BY PROEHL to approve the July 18, 2017 meeting minutes. The Motion was approved 4 -0-1, with Braid abstaining. 3. Old Business a. FAST-TRACK Challenge -Business Competition An update was provided on the FAST-TRACK Business Challenge. An update was provided on the status of requests for sponsorship. At this time there are a number of service providers, but no committed sponsors. The Board discussed the strategy for moving forward. It was the consensus to complete one more push, but continue with the service prizes if there is not a cash award. Judges for the event currently include Lisa Bradley, CEO & Cofounder of R.Riveter and former Shark Tank participant; Representative Bob Vogel who serves on the FSS Board of Directors and is owner of New Market Bank, Kirt Briggs, Mayor of Prior Lake with 25 years of medical technology experience and Charles Shannon who is the VP of Corporate Development for Equus Holdings. Charles has funded, purchased and sold technology companies inside leading investment banks, venture capital funds and private equity. Currently, Charles runs corporate development for a private equity holding company where he evaluates 3-4 new investment opportunities per week. MHTA indicated they may have contacts for judges. A judge’s seat is being reserved for a sponsor as well. The FAST-TRACK Challenge live event will be held on Thursday October 26, 2017 at the Savage City Council Chambers from 6:00 p.m. to 8:30 p.m. City staff will tape, edit and prepare the video in various formats for use after the event. The city has offered to host the pre-event meet and greet to allow judges and participants to tour the space. It was suggested local media be invited to attend the live event. Two applications have been submitted with two additional emails this week noting their intent to submit. Information on Open to Business has been sent to all interested parties, making them aware of business assistance prior to and after the competition. The press release was reviewed. Key points relating to the panel of judges and service providers will be emphasized in the opening paragraphs. It was suggested the specific services be detailed such as free web site development, preparation of non-disclosures, etc. be included. The three-year business residency requirement will be removed from the press release, but retained in the challenge criteria. A revised press release will be circulated to the Board. 4. New Business Hughes reported that Board Member Lori Frank has increased job responsibilities for the next several months. As a result she will not be able to attend meetings for the remainder of 2017. He is working with Casey McCabe to review the bylaws and will have more information at an upcoming meeting. 5. Updates a. Technology Village Metric Report – July, 2017 Board members reviewed and discussed the July, 2017 Metric Report. It was requested the lease percentages be adjusted to remove the space that is reserved for the Virtual Program, which would reflect 100% occupancy at this time. b. Action Item Update The Action Item report was included in the packet. c. Calendar of Events The next workshop session is scheduled for Tuesday, August 15, 2017 at 7:30 a.m. d. Board Member Ideas/Recommendations The number and timing of roundtables with program participants was discussed. It was noted placeholders are on the calendar for potential dates, but they may also be scheduled at the request of participants. It was suggested the roundtables be scheduled through their sponsors. The sponsors may suggest what skill sets are needed to address the business needs. Board members acknowledged that not all members may be able to attend all roundtables. 6. Adjourn MOTION BY JONES and SECOND BY PROEHL to adjourn the meeting. The meeting adjourned at 8:20 a.m. Submitted by: Jo Foust, Scott County FSS A roundtable discussion with LocalVibe followed the regular meeting from 8:25 a.m. to 9:30 a.m.