Creating a public-private sector partnership for economic development

 

Challenge:

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.



Solution:

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

Results:

  • 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

 

50%

of city income now comes from non-city grants

+3Y

extension of agency funding from the city