HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 10/04/2016 - RESOLUTION 2016-079 SUPPORTING AND APPROVING THE SAgenda Item 10
Item # 10 Page 1
AGENDA ITEM SUMMARY October 4, 2016
City Council
STAFF
Josh Birks, Economic Health Director
SUBJECT
Resolution 2016-079 Supporting and Approving the Statement of Collaboration Between the City of Fort
Collins and Future Venture Capital Co. Ltd. (FVC).
EXECUTIVE SUMMARY
The purpose of this item is for the City Council to acknowledge and support a Statement of Collaboration
between the City of Fort Collins and Future Venture Capital Co. Ltd. (FVC). The City and FVC recognize the
mutual business, educational and other interests related to the City's 2015 Economic Health Strategic Plan
(EHS Plan) and FVC's mission.
STAFF RECOMMENDATION
Staff recommends adoption of the Resolution.
BACKGROUND / DISCUSSION
On September 1, 2016, representatives from the City of Fort Collins met with representatives of Future Venture
Capital Co. Ltd. (FVC) based in Kyoto, Japan. FVC was introduced to the Fort Collins startup ecosystem through
Denny Otsuga, who has worked with CSU Ventures and the Rockies Venture Club. FVC focuses on education for
entrepreneurs, investment, and incubation, through a variety of different activities. Most notably, these activities
include the creation of investment funds targeting start-ups.
Prior to the September 1, 2016 discussion, Economic Health Office (EHO) staff discussed a number of
opportunities to collaborate. At that time, FVC asked the City to consider executing a Memorandum of
Understanding with the City of Fort Collins, demonstrating mutual interests in expanding venture capital in our
region. EHO staff recommends a ‘Statement of Collaboration’ (the “Statement”) as a more appropriate approach to
document the partnership between the City and FVC (individually “Party” and jointly the “Parties”). The statement
does not include any direct commitments or transfer of funds/resources between the parties. The Statement has
been reviewed and approved by the Communications and Public Involvement Office and the City Attorney’s Office.
EHO staff supports documenting this partnership with the Statement, which is Exhibit A to the Resolution. The
2015 Economic Health Strategic Plan (the EHS Plan) clearly identifies “Growing Our Own” as a theme of the City’s
economic health approach. In addition, the EHS Plan calls for leveraging partnerships, including with private
entities, to achieve the goals of the plan. The Statement recognizes:
Both Parties have a mutual interest in contributing to local economic development through the execution of
agreements that facilitate knowledge transfer, technology transfer, entrepreneurship, and, investment in Fort
Collins, Colorado.
The City’s EHS Plan encourages the development of new and enhanced capital access tools for entrepreneurs
and cutting-edge companies to retain, develop, and recruit innovative startups and small businesses.
The scope of the document includes:
Agenda Item 10
Item # 10 Page 2
o To the extent agreed by the Parties, they will seek opportunities for collaborative activities.
o To the extent requested by the City and accepted by FVC, FVC will seek opportunities to assist the City’s
entrepreneurial, commercialization and other related activities such as those expressed in the City’s EHS
Plan.
o To the extent requested by FVC and accepted by the City, the City will seek opportunities to assist FVC in
its operations.
o Neither Party is obligated to expend any funds or other resources in implementation of projects or activities
in connection with this collaboration.
CITY FINANCIAL IMPACTS
No financial impact.
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RESOLUTION 2016-079
OF THE COUNCIL OF THE CITY OF FORT COLLINS
SUPPORTING AND APPROVING THE STATEMENT OF
COLLABORATION BETWEEN THE CITY OF FORT COLLINS
AND FUTURE VENTURE CAPITAL CO. LTD. (FVC)
WHEREAS, on June 2, 2015, the City Council adopted Resolution 2015-059, approving
and adopting the City’s Economic Health Strategic Plan (the “2015 EHS Plan”); and
WHEREAS, the 2015 EHS Plan identifies support for the innovation and entrepreneurial
ecosystems that build new and creative industries, along with collaboration with economic health
partners, as strategic priorities; and
WHEREAS, the 2015 EHS Plan encourages the development of new and enhanced
capital access tools for entrepreneurs and cutting-edge companies to retain, develop, and recruit
innovative startups and businesses; and
WHEREAS, the City and Future Venture Capital Co. Ltd. (“FVC”) recognize the mutual
business, educational and other interests they have related to the City’s 2015 EHS Plan and
FVC’s mission; and
WHEREAS, the City and FVC have expressed an interest to voluntarily interact and
cooperate for their mutual benefit and the entities they represent; and
WHEREAS, the City and FVC have mutual interests in supporting this opportunity to
promote and educate students, faculty, researchers, investors, and entrepreneurs in Colorado,
Japan, and beyond; and
WHEREAS, the City and FVC also have mutual interest in contributing to economic
development through the execution of a statement of collaboration to facilitate knowledge
transfer, technology transfer, entrepreneurship, and, investment in Fort Collins, Colorado, Japan,
and other places.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2. That the City Council hereby supports and approves the Statement of
Collaboration between the City and Future Venture Capital (FVC) attached hereto as Exhibit
“A”, and the Mayor is authorized to sign it on behalf of the City.
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Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 4th
day of October, A.D. 2016.
_________________________________
Mayor
ATTEST:
_____________________________
City Clerk
EXHIBIT A