Decision details

OD/16/29 Tech East

Decision Maker: Officer Decision

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

TechEast is a partnership programme whose mission is “to accelerate the growth of the digital tech economy in the East, through promotion, excellence and support” with an objective of creating a further 5,000 jobs, generate an extra £650M GVA of economic growth in the East and be one of the UK’s Top 5 tech cluster by 2020.

 

This will be delivered through sharing best practice, improving joint working, encouraging more inward investment and showcasing the region’s strengths through a TechEast “embassy” in London.

 

The organisation is currently funded through Suffolk County Council, Norfolk County Council & New Anglia LEP with in-kind support from Suffolk Chamber of Commerce who supports the programme, PR and website.

 

Proposals with county councils and LEP for funding are likely to be completed in September/October and, as part of their plan to be a self-sustaining membership club in 3 years, they have just launched a membership package and are seeking commercial sponsors and patrons.

 

Decision

IBC will invest £10,000 for a one year membership as a Patron of Tech East. There are sufficient funds in the Economic Development budget for this commitment.

Decision:

IBC will invest £10,000 for a one year membership as a Patron of Tech East. There are sufficient funds in the Economic Development budget for this commitment.

 

The “Patron” scheme includes four main areas of benefit to IBC:

·         Inclusion within Tech East brand package and opportunity to co-brand activities

·         An opportunity to influence policy and strategic direction

·         Access to high profile and strategic networking opportunities

·         Access to the Tech East London Embassy

 

The investment and strategic relationship will be managed through the Tech East engagement group to ensure that we are able to influence the way the programme is managed.

 

Reason for Recommendation

This is a significant growth sector for Ipswich as the national Tech Nation report found that in 2015, digital businesses in and around Ipswich are worth almost £200m to the local economy, sustaining almost 10,000 jobs.

 

As Patron of Tech Each, we would be able to use the London Embassy for IBC meetings with potential developers or investors which could add significant value to our profile within this industry and encourage inward investment into the Borough.

Publication date: 26/08/2016

Date of decision: 22/08/2016

Accompanying Documents: