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DeSoto board considers $500,000 tech innovation fund to attract aerospace, cybersecurity startups
Summary
Staff proposed creating a Desoto Tech Innovation Fund (discussion: possible $500,000 set‑aside) and an innovation lab to grow local tech businesses, especially aviation/aerospace and cybersecurity firms; board gave staff direction to pursue a more detailed plan and partners.
Antoine Lowell, the city’s economic development staff lead, presented a proposal to establish a Desoto Tech Innovation Fund and a potential innovation lab focused on aviation/aerospace, advanced air mobility, cybersecurity and related software, firmware or hardware firms. Lowell said staff used metroplex examples (McKinney, Frisco, Arlington) as models and proposed a preliminary fund size of about $500,000 with individual awards typically capped between $10,000 and $50,000 to $100,000 depending on structure and stage.
The plan discussed a mix of grant and investment models—ranging from non‑repayable grants to equity or convertible instruments—and explored whether the city would…
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