Venture Center's tie to tech park debated

The Little Rock Technology Park Authority Board is weighing whether to continue a partnership with the Arkansas Venture Center that offers space for the center's programming and startup efforts.

Venture Center President Lee Watson told the tech-park board that his organization has started only the first two steps of the four-step process to help entrepreneurs develop ideas into businesses, and it is already in need of more space.

"We're asking to partner with Little Rock Technology Park to provide space in exchange for programming to advance the entrepreneurial pipeline," Watson said.

Technology Park Board Chairman Mary Good estimated that it would cost the tech park between $110,000 and $120,000 a year to continue providing the space in the Block 2 Loft building downtown for the Venture Center's programs.

The center offers meet-ups, mentorships and business-model courses and will start a code school in May.

"The question is whether or not the park can afford that," Good said.

"Or the question is can we afford not to," replied tech park board member Jay Chesshir, who also sits on the Venture Center's board. He's the chief executive officer of the Little Rock Regional Chamber of Commerce.

Chesshir said the partnership between the tech park and the Venture Center is needed to fuel the entrepreneur community that will be looking to the tech park for space when the park is developed. Chesshir suggested that the tech park agree to pay the lease for the space in the Block 2 Loft building and that the Venture Center cover the utilities.

Several board members had questions on how the space would be utilized and what other options the tech park had for the property. There also were questions about leasing specified square footage to certain companies.

"If all we are at this stage is free, cheap office space for someone that wants to lock their doors ... behind them, that doesn't accomplish what our mission is," board member Kevin Zaffaroni said. "Remember what our mission is -- to promote entrepreneurship within the Little Rock community."

Board member Dickson Flake suggested that the details of the proposed partnership continuation be fleshed out before the board votes. Good said she wanted to see representation from area universities on the Venture Center board before she votes.

The tech park board will meet Wednesday at 4 p.m. to discuss the partnership again and vote on the proposed partnership extension.

Metro on 12/11/2014

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