Creating a public-private sector partnership for economic development
A major European city government provided seed funding for a new city economic development agency. This gave the agency a 3-year runway to identify and secure alternative funding sources.
We worked with the agency to build a genuine public private partnership, which balanced city and private sector interests.
We helped to build an entrepreneurial and agile agency culture and to recruit a commercial director and fundraising team
We helped to design and execute paying business partnership programs and sponsorship agreements
We helped the agency collect and monetize data streams and research insights
We helped the agency to monetize its digital and physical assets - including changing traditional ways of working to free up space for an income generating startup incubator
We helped the agency to build the evidence base and business cases to secure national and European Union funding
We helped the agency structure its assets and programs to mitigate state aid risks
We worked with the agency to build a case for ongoing city funding
Over three years, the agency increased non-city grant funding to more than half its income
The city also agreed to continue to providing funding for the agency for further years