AUSTIN, Texas--(BUSINESS WIRE)--The Austin Technology Partnership (ATP), is a unique partnership formed between the City of Austin and the Austin Technology Council (ATC). The ATP positions Austin as the first market in the country to establish a public-private investment to study and strengthen tech as a key economic engine impacting the broader community.
The ATP brings together City leadership, regional stakeholders, and the technology industry to advance the regional tech economy and ensure all Austinites can access the benefits it delivers. With a $21.5B annual regional impact and connection to 26 percent of regional jobs the technology industry brings to the city, the stakes have never been higher.
“Austin’s at a tipping point,” said Austin City Council Member and ATP sponsor Mike Martinez. “It’s time to leverage today’s strengths to ensure that the next generation of Austinites have the same, or greater, opportunities as many of us do today. The Austin Technology Partnership will lay the groundwork for training local talent for stable, high-paying jobs while supporting the City’s efforts to implement effective economic policies, streamline public investment, and save tax payer dollars.”
The ATP is a new model for public-private collaboration, developing an accurate understanding of Austin’s needs and efficiently applying economic dollars and efforts in support of initiatives to sustain a thriving regional innovation economy. The ATP will support stakeholder efforts to develop and execute efficient economic policies along four priorities.
1. Talent. Connect tech job creators to educators and workers.
2. Capital. Increase access to later stage capital to support the region’s high-growth companies.
3. Life Sciences. Support the build-out of a strong life sciences ecosystem.
4. Market Development. Conduct research and stakeholder education to foster shared perspective and sustained market growth.
“Industry and City leaders spent the better part of two years developing a strategic set of shared priorities,” said ATC President and CEO Julie Huls. "Austin is the only tech market in the U.S. to galvanize industry support to partner with a municipality to grow a stronger regional economy. We’re certain this new path will lead us to more efficient and more effective investment of regional resources to support our innovation-based economy. This partnership will allow ATC to serve our members and our market at a level unparalleled in the U.S.”
Julie Samuels, Executive Director of San Francisco-based Engine Advocacy, agrees. “Engine works around the country to forge stronger ties between innovators and policymakers. The partnership between ATC and the City of Austin is a new model that places Austin at the forefront of a global discussion.”
At the core of the ATP is essential, and overdue, data collection, analysis, and reporting to establish a shared understanding of the economic landscape impacting the four priorities. The data will serve to sync the tech community to regional talent and capital resources and support all regional stakeholder efforts to strengthen the innovation economy.
The ATP represents a total annual public-private investment of $775,000, broken down to a private sector contribution of 62 percent and a public sector contribution of 38 percent. The City’s investment in the ATP represents less than .01 percent of the City’s 2015 Annual Budget invested in support of 26 percent of Central Texas jobs.
Over the next 12 months, ATP data collection and subsequent education and reporting requirements will serve as a resource to City leadership, regional stakeholders, and others seeking to strengthen the Central Texas innovation economy.
Chris Riley, Austin City Council Member
“Data is as important to the modern public sector as it is to the private. The ATP offers a practical way to make the most of the opportunities before us: focus on data collection to benchmark strategic priorities, while establishing public-private interest in sustaining the benefits that innovation and tech bring to all Austinites.”
Hugh Forrest, Director, SXSW
“The Austin Technology Partnership is an important new component to Austin's innovation ecosystem. It provides critical stakeholder support on issues that impact Austin tech businesses and entrepreneurs, which in turn support so much of what makes Austin Austin."
About Austin Technology Council
The Austin Technology Council (ATC) is the voice of Central Texas’ diverse and thriving technology and life sciences industries, representing more than 1,200 technology executives, 250 companies and 60,000 employees. The Austin technology and life sciences sectors contribute $21.5 billion annually to the regional economy and support more than one third of local jobs. By convening Austin’s top technology executives, ATC is leading the effort to meet the future needs of the industry through increased access to technical talent, increased access to later-stage capital, the support of a thriving life sciences ecosystem, and connectivity across the industry and with key stakeholders in Texas and around the world.
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