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Round Rock council approves $1.2 million package to launch business accelerator program
Summary
Council approved $400,000 annually for three years (total $1.2 million) in Type B economic development funds to partner with an accelerator to support early‑stage startups; staff said a partner will be announced and the program will include cohorts, an on‑site office and staff support.
Adriana presented a proposal to amend the city’s economic development agreement to provide additional funding for a business accelerator to support early‑stage startups and entrepreneurs.
She said the request is for $400,000 per year for three years, totaling $1,200,000, with roughly 20% allocated to salaries (including a full‑time staff member to manage cohorts), about 10% to rent for office space at 409 W. Main Street, and the remainder to equipment and program costs. Adriana said the city evaluated proposals and intends to partner with an existing accelerator rather than build one from scratch.
Council members asked whether accelerators typically become self‑sustaining; Adriana said many partner with corporations, seek grants or find other revenue sources to continue past initial years. The mayor emphasized these funds come from sales tax (Type B) rather than property tax. Council voted to approve the amendment.
Why it matters: the program targets local entrepreneurship and aims to create jobs and retain startups in Round Rock; the funding decision commits three years of Type B revenue to the initiative.
Next steps: staff will announce the selected partner and oversee establishment of cohorts, a staff hire and community programming.
