Wednesday, February 8, 2017

Tech Park gets $50,000 boost from ACH, UALR

Posted By on Wed, Feb 8, 2017 at 3:09 PM

click to enlarge tech-park-exterior-1024x682.jpg

Arkansas Children's Hospital
and the University of Arkansas at Little Rock will increase their contributions to the Little Rock Technology Park by $25,000 each for two years, park Director Brent Birch says.

The two years of $25,000 bonuses are on top of pledges of $125,000. UALR is a sponsor of the park; Children's is not. (Children's decision not to be a sponsor is likely because the hospital is allergic to the Freedom of Information Act that applies to the taxpayer-supported Tech Park.) Other official sponsors are the city of Little Rock and the University of Arkansas for Medical Sciences. They have not yet offered to kick in past the committed $125,000.

The Tech Park board will meet today at 4 p.m. in the Little Rock Regional Chamber of Commerce Building. Birch will talk to the board about altering the fourth floor to accommodate more startups while contractors East Harding are on the job at the first Tech Park building at 417 Main St.

The second floor is dedicated to co-working space. and the third floor is being leased to startup companies. The Venture Center will occupy the first floor.

Also on the agenda: The Venture Center is late on its January lease payment for its space at 107 Markham St. It's not the first time the Venture Center has been late on rent. "They're blowing and going for the FinTech," Brent said, referring to the Venture Center's upcoming accelerator program. Once the Venture Center is occupying the Tech Park at 417 Main St., Birch said, its "lease terms will be much stricter," with penalties imposed as well.

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