Title
Resolution directing the Urban Redevelopment Authority ("URA") to create, fund, and maintain an Entrepreneur Support Fund for the purposes of supplying select new businesses with early-stage seed funding where applicable.
Body
WHEREAS, the City of Pittsburgh benefits exponentially from the growth and diversification of new businesses in the City's market landscape; and
WHEREAS, many would-be entrepreneurs face steep costs that make starting their own new business an insurmountable task, with this problem compounding for those seeking entry into industries where venture capital funding and early-stage investments are uncommon; and
WHEREAS, awarding grants and loans to would-be entrepreneurs can better foster the addition of innovative new businesses while ensuring an inclusive business culture by ensuring that resources are made available to new market entrants; and
WHEREAS, in establishing an Entrepreneur Support Fund and identifying appropriate funding sources, as well as developing relevant and accurate criteria to award funding, the Urban Redevelopment Authority can produce catalytic change for entrepreneurs just beginning their business career; and
WHEREAS, the City of Pittsburgh's Advisory Board on Entrepreneurship & Start-ups - tasked with developing strategies to promote targeted growth opportunities, reviewing and recommending regulatory and legislative policies, serving as a liaison between policymakers and the business community, and advising the policymakers on strategies to promote and support new businesses - has identified the critical need for an Entrepreneur Support Fund; and
WHEREAS, the Advisory Board on Entrepreneurship & Start-ups has recommended and advocated for the creation of an Entrepreneur Support Fund; and
WHEREAS, the City of Pittsburgh is a ready and willing and partner to work with the Urban Redevelopment Authority in the creation, funding, and maintenance of a Entrepreneur Support Fund.
Now therefore be it resolved b...
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