The Alpharetta City Council has approved funding for the Tech Alpharetta technology incubator for two more years, at its current funding rate of $100,000 per year.
The funding, for fiscal years 2020-21 and 2021-22, passed 5-2, with Mayor Pro Tem Donald F. Mitchell and Council Member John Hipes voting against.
Created by the city in 2012, Tech Alpharetta’s mission is growing technology and innovation, according to letter to the mayor and council by CEO Karen Cashion. It has graduated nine technology startups from its Tech Alpharetta Innovation Center, is incubating 50 more, and has created 350 new jobs for the city, she said.
While the nonprofit has made strong progress to date, “we continue to need the city’s support in order to run Tech Alpharetta’s incubator,” Cashion said. “By extending our funding for an additional two years, the city will enable us to renew our long-term agreements with our sponsors and tenants, and enter into new long-term sponsor and tenant agreements, which are also a critical source of ongoing revenue for Tech Alpharetta.”
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