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KU Innovation Park says pilot approved by board and submitted to county; commissioners probe funding impact
Summary
KU Innovation Park told Douglas County commissioners its pilot program has board approval and been submitted to the county; the park said county funding cuts over five years reduced staff and services, and commissioners asked how restored support would affect operations.
The KU Innovation Park told Douglas County commissioners that its pilot program has been approved by the park's board and placed on the county meeting agenda for review, while county funding reductions have strained operations.
Adam Courtney, a representative of KU Innovation Park, said the board approved the pilot and the county application "has been submitted" and is "on the agenda for this evening for review." He said the pilot's eligibility criteria were revised to favor more mature companies while still serving firms earlier in the commercialization cycle.
Courtney also described budget pressures: "over the last, I think, 5 years, we've seen about a 110,000 cut from, the county's funding," he said, adding that staff headcount fell "from 7 full time employees down to 5." Courtney said rent from tenant companies supports facilities, but that KUIP relies on county, city and university support "to fund the operations, which includes, the staffing."
Commissioners asked for further detail on the pilot's fee schedule and how the program will distinguish eligible, later-stage firms from earlier-stage incubator tenants. Courtney said KUIP worked with the county appraiser and comparable local pilots to set a schedule of fees and said the arrangement is intended to ensure mature companies pay for county services while continuing to serve earlier-stage firms.
Why it matters: Commissioners indicated they will revisit the proposals at evening budget meetings; restoring county support could allow KUIP to expand services and rehire staff, while the pilot aims to balance fiscal contribution by maturing tenants with service to nascent startups.
Next steps: Courtney said the pilot application is before the county this evening and that commissioners will have an opportunity to examine the detailed materials then.
