Venture Center new Tech Park tenant | Arkansas Blog

Thursday, December 18, 2014

Venture Center new Tech Park tenant

Posted By on Thu, Dec 18, 2014 at 5:48 AM

The Block 2 Tech Park space.
  • The Block 2 Tech Park space.


Starting in January, the Arkansas Venture Center will be the Little Rock Technology Park's tenant in its temporary space in the Block 2 Building on Markham, where it will offer its pre-accelerator and incubation programs for early-stage businesses and its coding classes. In exchange for use of the space, AVC will pay $20,000 toward the park lease ($6,500) and utilities. Brent Birch, director of the park, said the larger benefit for the Tech Park will be to sustain the current momentum of interest in tech startups while the Tech Park works toward a permanent home and "to show the tech park is happening."

The board of the Tech Park agreed to the arrangement in a special meeting at the Little Rock Regional Chamber of Commerce Wednesday night.

Other revenue will be generated by workspace leases at $150 a month. The city is picking up the tab for the lease of the space through June, a cost of $47,808 for the first half of 2015. July-December renta is estimated at $53,784 and operational expenses at $18,804 for the entire year. The park board anticipates "incubator desk" revenues of $21,600, and that income coupled with AVC's $20,000 should cover all but about $5,500 $44,488 of the 2015 lease cost. if my reading of the budget is correct. AVC head Lee Watson said he has commitments from seven companies to lease desks in Block 2, which was music to the board's ears.

Board Chairman Dr. Mary Good caused a few nervous chuckles when said she wanted AVC to add to its board representatives from park sponsors the University of Arkansas for Medical Sciences and the University of Arkansas at Little Rock. In fact, she said "it is essential" that the tech park sponsors be represented. She even intimated that it could be a condition of the lease before board member Jay Chesshir reined her in, noting the Tech Park board could make no such demand on the private nonprofit AVC. Even Dr. Good laughed, but you could tell she absolutely expects AVC to make room for UAMS and UALR.

Good also suggested AVC investigate the research going on at Arkansas Children's Hospital, which is not a sponsor of the park but has committed funding. Watson and others replied that since AVC's new "full stack" engineering program will be led by Mark Doderer, husband of ACH CEO Marci Doderer, the two entities have a good line of communication open already.


Tags: , , , , , , ,


Favorite

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Leslie Newell Peacock

  • Kaleidoscope Film Festival continues

    And much more.
    • Aug 16, 2018
  • A miscellany of art: Aug. 10-16

    We don't get to post all the jpegs of artwork on exhibit that come into the office, but they have more allure and tell you more about the work than what I can write about them. Hence this slideshow of work from shows opening tonight (Aug. 10) for 2nd Friday Art Night, 5-8 p.m. (see the To Do list for more information), and other openings and shows this weekend and in the days ahead.
    • Aug 10, 2018
  • Majority: Red-light 30 Crossing

    But ARDOT's project to widen the interstate is preordained, some believe.
    • Aug 9, 2018
  • More »

Readers also liked…

  • Trump immigration protest at LR: Quick and fierce

    It was not even 24 hours ago that Sophia Said, director of the Interfaith Center; City Director Kathy Webb and others decided to organize a protest today of Donald Trump's executive order that has left people from Muslim countries languishing in airports or unable to come to the US at all — people with visas, green cards,a  post-doc graduate student en route to Harvard, Google employees abroad, families. I got the message today before noon; others didn't find out until it was going on. But however folks found out, they turned out in huge numbers, more than thousand men, women and children, on the grounds of the state Capitol to listen to speakers from all faiths and many countries.
    • Jan 29, 2017
  • Your daily dose of Jason Rapert

    Sen. Jason Rapert really, really didn't like it when a KATV reporter asked him about the hypocrisy of his political arguments.
    • Feb 4, 2017
  • Campus gun bill clears committee

    The so-called compromise amendment that will allow anyone 25 or older with a training certificate carry a concealed weapon on public college campuses was approved in a Senate committee this afternoon.
    • Feb 21, 2017

Most Recent Comments

Slideshows

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation