Issue - decisions

OD/16/29 Tech East

26/08/2016 - OD/16/29 Tech East

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.