Coversheet


NEW BUSINESS 11.


COMMITTEE MEMORANDUM

TO:	Finance and Citywide Projects Committee Members

FROM:	Jimmy L. Morales, City Manager

DATE:	January 25, 2019

SUBJECT:	DISCUSSION REGARDING PROSPERA REQUEST FOR FUNDING, IN THE AMOUNT NOT TO EXCEED $12,500, FOR A TECHNOLOGY BUSINESS SOLUTIONS ACADEMY FOR SMALL BUSINESSES

HISTORY:

During the December 12, 2018 City Commission meeting the request for $12,500 in funding was referred to the Finance and Citywide Projects Committee (FCWPC) for review.

ANALYSIS:

Prospera is an economic development nonprofit that provides technical and professional business support to local and small Hispanic businesses with a focus on technology and financial literacy.

Technology in business is a vital necessity, critical to the ability to grow and communicate with clients effectively. IT trends can also enhance footprint, but the risk for cyber threats and vandalism has also grown exponentially. To mitigate risks and expand growth, business owners need a plan, and usually the smaller businesses have no reliable IT support, and lack of basic knowledge about applications and trends.

Prospera's Technology Academy proposes to provide specialized hands-on bilingual training that includes culturally relevant information focusing on businesses in North Beach. While open to businesses in Citywide, Prospera will focus on businesses in North Beach given the larger proportion of spanish speaking businesses and given that WeWork located in South Beach is also providing capacity training programs for businesses. The ability to apply these IT trends will provide these minority businesses with tangible assistance that should assist these businesses immediately as well as beyond the duration of the program.

Context: The Technology Academy is a 4-5 week training program that provides business owners with a better understanding of critical issues related to technology and how to apply them and grow their businesses. Participation is free.

Objectives: To guide small businesses through the age of digital transformation, allowing them to leverage technology and increase the efficiency of their business, manage information for customers, reach greater audiences, and make better business decisions.

Value for businesses that complete the curriculum:

· Knowledge of technology trends.

· Knowledge on how to leverage and apply technology to enhance business operations and profitability.

Content:

Session 1. Understanding the Value of Technology.

Session 2. Software and Hardware.

Session 3. Digital Marketing: Social Media and Google Adwords.

Session 4. Cyber security threats

Technical Components and Integration:

· Programs and applications (Software: CRM, POS, etc.)

· Infrastructure and equipment (Hardware)

· Networks

· Servers

· Mobile technology

The proposed budget, of $25,000, and Prospera is requesting $12,500 from the City and will match the City's funding with private funding. The City of Miami has sponsored a similar technology bootcamp for Miami-Based businesses successfully.

CONCLUSION:

The Small Business Task Force (SBTF) discussed this item and .stated that it was a good idea to provide the bilingual services in North Beach. No motion was made by SBTF.

The Administration is seeking direction from FCWPC regarding this funding.

ATTACHMENTS:
	Description	Type
	Prospera Document	Memo