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WE GOT HAUSER DOWN, AND WE'LL GO. I'M GOING TO TRY TO REGROUP. HERE HE COMES. ALL RIGHT. GOOD
[CALL JOINT MEETING TO ORDER]
AFTERNOON. IT'S 3:15 P.M. THIS IS THE JOINT MEETING OF THE MCKINNEY CITY COUNCIL. AND MCKINNEY ECONOMIC DEVELOPMENT CORPORATION WILL CALL CITY COUNCIL TO ORDER. CHAIRMAN LOCHMULLER, WILL YOU CALL YOUR BOARD TO ORDER, PLEASE? YES, SIR. ON BEHALF OF THE MCKINNEY ECONOMIC DEVELOPMENT CORPORATION BOARD, WE DO HAVE A QUORUM, AND I WILL CALL OUR JOINT MEETING TO ORDER AS WELL. THANK YOU. THIS FIRST ITEM WOULD BE THE OPPORTUNITY FOR ANYONE IN THE AUDIENCE TO ADDRESS EITHER BODY WITH COMMENTS REGARDING ANY AGENDA ITEM. MR. HAMILTON, IT'S GOOD TO SEE YOU TODAY. SEEING NO ONE RUSHED TO THE PODIUM. OUR FIRST[MEDC Update]
ITEM IS 26-0081 MEDC UPDATE MR. KOSKI. THANK YOU, MR. MAYOR. COUNCIL MEMBERS, BOARD MEMBERS.MR. MAYOR, IF I COULD HAVE SOME PRIVILEGE, I'D LIKE TO TALK ABOUT SOMETHING BEFORE I START MY PRESENTATION. A FEW HOURS AGO, THE CITY OF PLANO OFFICIALLY ANNOUNCED THAT OUR VERY OWN SENIOR VICE PRESIDENT, MICHAEL TALLEY, HAS BEEN NAMED AS THE NEW EXECUTIVE DIRECTOR OF ECONOMIC DEVELOPMENT. SO CONGRATULATIONS, MICHAEL. BUIE. WHY ARE WE HERE? MR. MAYOR, I PROMISE THAT WE WOULDN'T TRY TO TAKE ANY PLANO BUSINESSES UNTIL AFTER HE STARTED. WELL, WELL, WELL, WE'RE CLAPPING FOR YOU. IT IS A LOSS FOR THE CITY AND FOR OUR ECONOMIC DEVELOPMENT CORPORATION. SO WE WISH YOU THE BEST. ABSOLUTELY. MICHAEL HAS BEEN INSTRUMENTAL IN MANY PROJECTS THAT WE'VE ALL VOTED ON IN SOME WAY, SHAPE OR FORM. MIRAGE, VENUE, OUR INNOVATION SYSTEM THAT WE'RE WORKING THROUGH. BUT MORE THAN THAT, WHAT YOU GUYS DON'T SEE BEHIND THE SCENES IS WHAT HAS BEEN AS A MENTOR TO TWO YOUNG PROFESSIONALS AND EVEN, DARE I SAY TO MYSELF AS BEING THE NEW GUY ON THE TEAM. IT'S BEEN JUST A PASSIONATE PERSON. FOR MCKINNEY. YOU CANNOT REPLACE MR. TALLEY. SO WITH THAT, MY FRIEND, BEST OF LUCK TO YOU.
ABSOLUTELY. YEAH. ALL KIDDING ASIDE, I, YOU KNOW, MICHAEL'S BEEN GREAT FOR THE CITY AND HE'S BEEN, YOU KNOW, THROUGH MANY CHANGES HAS BEEN A CONSTANT FOR THE MEDICI AS WE'VE GOTTEN THROUGH PRIOR STAFF MEMBERS AND GOTTEN TO THE POINT THAT WE ARE TODAY. SO WE CERTAINLY APPRECIATE ALL THE WORK THAT MR. TALLEY HAS DONE FOR THE BOARD AND WISH HIM MUCH SUCCESS, RELATIVELY, IN PLANO. THANK YOU, MR. CHAIRMAN. THANK YOU, MAYOR, FOR THAT. YEAH. SO LET'S TALK ABOUT WHAT MR. TALLY'S BEEN WORKING ON FOR THE PAST FOUR YEARS. SO FIRST AND FOREMOST, AS A REMINDER, OUR STRATEGY IS BASED UPON THESE FIVE PILLARS CALLED AGILE. OUR LAST VISIT, WE SPENT ABOUT A HALF HOUR, 45 MINUTES GOING THROUGH EVERYTHING WE'RE WORKING ON. AT THIS TIME. WE'RE GOING TO BE MORE SURGICAL AND JUST UNPACK A FEW THINGS. YOU HAVE OUR TRACT GROW, INNOVATE, LEAD, ENGAGE TOUCHPOINTS. OUR 2026 OPPORTUNITIES ARE LISTED THERE THAT WE'RE WORKING ON. AND TODAY WE'RE GOING TO FOCUS ON TWO, OUR LAND HOLDINGS AND ALSO OUR INNOVATION EXCHANGE, ALSO KNOWN AS OUR INNOVATION FUND. I CHOSE THESE BECAUSE THESE MAY BE GOOD POINTS TO BRING UP DURING YOUR STRATEGY SESSION COMING UP NEXT MONTH.
AS YOU TALK ABOUT WHAT'S IMPORTANT TO COUNCIL MOVING FORWARD. SO LET'S DIVE INTO IT HERE. AS A REMINDER, WE DID PURCHASE ABOUT EIGHT ACRES OF LAND IN DISTRICT 121 NEXT TO THE DENISON HOTEL. THAT'S NOW MEDC PROPERTY. WE ARE GOING AFTER CORPORATE PARTNERS TO ACTIVATE THAT LAND, GETTING A LOT OF INTEREST ON THAT, NOT ONLY FOR SPECIFIC CORPORATE PARTNERS, BUT ALSO IN SPEC OFFICE PARTNERS AS WELL, WHICH IS A GOOD SIGN FOR ALL OF US.
THE NEXT PIECE OF LAND, CANNON BEACH AT STACY IN 121. THE AREA IN YELLOW IS ABOUT 20 ACRES.
THAT'S WHAT WE CALL EAST OF THE CREEK THAT WE ARE STILL LOOKING TO DEVELOP WITH COLE CANNON, OUR DEVELOPER. THE BLUE AREA, OF COURSE, IS WHERE THE THE WATER WILL SIT, THE HOTEL, THE OFFICE, ETC. BUT WE ARE GETTING MORE PHONE CALLS, MORE INTEREST ON THE EAST SIDE OF THE CREEK.
NO SURPRISE THERE. LAKE FOREST IN 121. WE HAVE IDENTIFIED SOME POTENTIAL PARTNERS TO HELP ACTIVATE THAT PROPERTY. WE'RE WORKING THROUGH THOSE MECHANICS RIGHT NOW VIA AN RFQ. THAT'S 46 ACRES OF PRIME LAND ALONG THE CORRIDOR. WE HOPE THE FIRST QUARTER OF THIS YEAR, WE HAVE SOME MOMENTUM ON THAT, AND WE CAN START MOVING FORWARD WITH GETTING SOME VERTICAL CONSTRUCTION ON THERE. FORMER CITY HALL PROPERTY, THE CITY MANAGER'S OFFICE, IN COORDINATION WITH CITY COUNCIL, HAS KIND OF POINTED AT MEDC TO SAY, HEY, I'M THE FORMER CITY HALL PROPERTY. WHAT CAN WE DO TO INSPIRE SOME OFFICE DEVELOPMENT THERE? SO WE'RE CURRENTLY WORKING ON THAT BEHIND THE SCENES. AND THE LAST TWO HERE BY THE SHERATON HOTEL.
WE OWN ABOUT SIX ACRES OF LAND IN CONCERT WITH THE CITY OF MCKINNEY. THE SHERATON HOTEL IS
[00:05:06]
VERY INTERESTED IN HAVING MORE STUFF AROUND IT, SO WE'RE WORKING ON THOSE TYPE OF PROJECTS. AND LAST BUT CERTAINLY NOT LEAST, WE OWN 183 ACRES EAST OF THE AIRPORT. THE RED SQUARE IS THE CURRENT TERMINAL COMMERCIAL TERMINAL BEING BUILT, AND THE YELLOW IS, GENERALLY SPEAKING, WHERE OUR PROPERTY SITS. WE'RE RIGHT NOW WE ARE MEASURE PLANNING, INFRASTRUCTURE AND SOME COORDINATION WITH OUR NEIGHBORING PROPERTIES TO GET THAT ON THE MARKET AS SOON AS POSSIBLE. SO WITH THAT, MR. MAYOR, I'LL PAUSE HERE FOR A MOMENT, SEE IF THERE'S ANY QUESTIONS ABOUT OUR LAND HOLDINGS AND MAY INSPIRE SOME CONVERSATION. ANY QUESTIONS? MIKE, IF YOU COULD GO BACK TO THE DOWNTOWN RIGHT THERE. SORRY, SIR. CAN YOU GIVE US A LITTLE MORE, A LITTLE MORE OF WHAT IS THE VISION OR WHAT THE PLAN IS OR TIMING OF WHAT'S GOING ON DOWN THERE? WE GET A LOT OF QUESTIONS ABOUT FORMER CITY HALL AND SO ON AND SO FORTH. YEAH, I'LL SPEAK TO THE CITY HALL PROPERTY. FORMER CITY HALL PROPERTY, MR. GRIMES, TO SPEAK ABOUT THE OTHER PARCELS IF NEEDED. THE YELLOW SQUARE IS OLD CITY HALL. IT'S ABOUT ONE ACRE IN SIZE. OUR VISION FOR THAT IS AN OFFICE BUILDING WITH SOME COMMERCIAL OPPORTUNITIES ON THE FIRST FLOOR. WE DID IT. WE WERE INSPIRED BY THE LAST ITERATIONS COMING OUT OF OUR FORMER PARTNER, SO WE'RE NOT GOING TO DEVIATE FROM THAT TOO MUCH EXCEPT FOR THIS ONE FACT. WE WANT TO MAXIMIZE THE FOOTPRINT, THE FLOOR PLATES, AS LARGE AS POSSIBLE. THAT'S BECAUSE WE ARE SEEING A STRONG INTEREST FOR HIGH END OFFICE USERS IN OUR DOWNTOWN. IT'S ONE OF THOSE PHONE CALLS WE GET ALL THE TIME. WE CAN'T WE CAN'T SOLVE. AND SO THIS IS A GREAT WAY TO GET WHAT WE CALL CLASS A OR CLASS A+ OFFICE. IN OUR DOWNTOWN. WE ENVISION, YOU KNOW, 4 TO 5 STORIES, DEPENDING ON HOW PARKING WORKS OUT, AND THEN THE BALANCE OF THE PARCELS IN THE DIFFERENT COLORS THERE WOULD BE STAGED OVER TIME. IF I RECALL CORRECTLY, THE GREEN SQUARE TO THE FAR LEFT WILL BE THE FUTURE PARKING DECK. THE ORANGE DEVELOPMENT SERVICES WOULD BE STAGING UNTIL IT'S READY FOR DEVELOPMENT. THAT WAS EARMARKED FOR HOTEL, WHICH I STILL THINK IS A GREAT IDEA, AND THE BALANCE OF PIECES WILL BE KIND OF A LATER PHASE. THANK YOU, THANK YOU. SO THE REAL CENTER OF THIS PRESENTATION TODAY IS ABOUT INNOVATION. AS YOU KNOW WE HAVE THE INNOVATION FUND. THAT'S A GRANT WHERE WE SUPPLY STARTUPS WITH CAPITAL TO GET STARTED AND KIND OF GROW THEIR BUSINESS. HERE IN MCKINNEY. THAT'S ONE OF OUR MAIN PILLARS CALLED INNOVATE. THESE ARE IMAGES FROM WHAT WE CALL SIGNING DAYS. WHEN WE SIGN UP WITH A STARTUP, WE DO A FULL EVENT, WHICH IS MUCH APPRECIATED BY THE COMPANIES. BUT I DID ANNOUNCE THIS AT OUR LAST MEETING AND I WANT TO SPOTLIGHT IT AGAIN. THE INNOVATION FUND IS A TOOL. WE ARE NOW REBRANDING THE ENTIRE EFFORT AS INNOVATION EXCHANGE. SO THE MCKINNEY INNOVATION EXCHANGE IS WHAT WE'RE CALLING OUR ENTIRE ECOSYSTEM FOR INSPIRING STARTUPS AND SMALL BUSINESSES TO GROW HERE IN MCKINNEY. AND PART OF THAT ARE 12 PILLARS OF INNOVATION. I WON'T WALK THROUGH ALL THESE HERE, BUT JUST A SNAPSHOT OF ALL THE BITS AND PIECES THAT COME TOGETHER AND THE NEXT COUPLE SLIDES. I'LL KIND OF WALK THROUGH WHAT THESE MEAN FOR ALL OF US IN THIS ROOM.FIRST, THE INVESTMENT SIDE, WE HAVE THE FUND. SO THE INNOVATION FUND WILL REMAIN THE HERE ARE THE KEY POINTS OF THAT. WE PROVIDE BETWEEN 50,000 AND $200,000 IN GRANTS NON-DILUTIVE GRANTS TO COMPANIES, MEANING WE DON'T ASK FOR EQUITY IN RETURN, PROVIDED THEY HAVE A THREE YEAR COMMITMENT TO GROW THEIR BUSINESS IN MCKINNEY. WE HAVE 53 COMPANIES RIGHT NOW IN OUR PORTFOLIO DOING VERY WELL. THOSE COMPANIES THAT GRADUATE TO TEN EMPLOYEES CAN EARN UP TO $500,000. AND AFTER THAT, IT'S REALLY A TRADITIONAL PROJECT THAT CAN EARN MUCH MORE MONEY FOR OFFICE BUILDINGS, ETC. AND THEN THE EXCHANGE SPACE. WE NOW LEASE AN ADDITIONAL 6000FTā !S NT TO OUR OFFICE AT ALMA 121. WE ARE DEFINITELY FOR NEW OFFICES FOR MEDC STAFF, BUT ALSO A COMMON AREA SPACE WHERE VENTURE CAPITAL PLUG AND PLAY OUR PARTNER, WHICH WE'LL HEAR FROM IN A MOMENT HERE. AND PEOPLE IN OUR ECOSYSTEM CAN COME AND LEARN FROM EACH OTHER. SO THIS IS A MONUMENTAL THING THAT WE'RE BRINGING TO MARKET A SPOT FOR STARTUPS, UNIVERSITIES AND SO ON TO COME TOGETHER TO AGAIN INSPIRE MORE GROWTH OF STARTUPS AND SMALL BUSINESSES IN MCKINNEY. AND THEN ALSO ON THE INVESTMENT SIDE, WE DO HAVE A COMMITTEE OF BOARD MEMBERS WHO OVERSEE EVERYTHING THAT WE'RE DOING AND THEN VENTURES. THAT'S MORE ABOUT FUNDS FOR HIGH GROWTH, LATER STAGE COMPANIES AND THE COMMUNITY SIDE. WE HAVE MEETING EVENTS, INNOVATION, UNWIND. MANY OF YOU HAVE ATTENDED THAT THAT DRAWS 100 PLUS PEOPLE TO DIFFERENT AREAS OF MCKINNEY TO COME TALK ABOUT INNOVATION AND WHAT THAT LOOKS LIKE. WE ARE LOOKING AT A COUNCIL OF ADVISORS FOR THE FIRST TIME. WE'LL HAVE A PIONEER AWARD AT THE CHAMBER OF COMMUNITY AWARDS EVENT THAT WILL HONOR THE BEST AND MOST INNOVATIVE PERSON IN MCKINNEY.
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SO THAT'S A BIG WIN FOR US THERE. AND THEN THE GUILD AND THE WAVE THAT'S REALLY ABOUT YOUNG TALENT AND WORKFORCE DEVELOPMENT AND KIND OF GROWING THAT THAT PIPELINE. WE ARE WORKING RIGHT NOW AND TALKING WITH SMU COX SPEARS INSTITUTE TO HELP US IN THAT JOURNEY. AND THIS SLIDE IS REALLY IMPACTFUL. I'LL UNPACK IT HERE FOR A SECOND. WE'RE LOOKING AT MORE PARTNERSHIPS. THESE PARTNERSHIPS ARE JUST NOT INTERNAL TO MCKINNEY BUT ALSO AROUND THE REGION AND THE COUNTRY AND THE COLLECTIVE OUR PARTNERSHIPS WE'RE SPEAKING WITH. YOU'LL SEE TCU AND SMU, UNT, UTD, LOTS OF VENTURE CAPITAL FIRMS WANT TO BE PART OF WHAT WE'RE DOING HERE. THE ADVANTAGE, WHICH IS ABOUT GETTING RELOCATIONS. EYES ON MCKINNEY, THAT'S PLUG AND PLAY. OUR TRIPS TO BARCELONA FOR DIFFERENT EVENTS, GETTING THAT ENERGY POINTING AT MCKINNEY AND THEN A PILOT PROGRAM. AND MR. GRIMES, I KNOW HE'S EXCITED BY THIS, BUT WE TRY TO PILOT AS MUCH AS WE CAN WITH THE CITY. MCKINNEY TO HELP KIND OF CROSS-POLLINATE IDEAS. SO WHEN WE HAVE A COMPANY THAT WE INSPIRE TO COME TO MCKINNEY, OUR FIRST PHONE CALL TO CITY HALL SAYING, WHICH DEPARTMENT CAN HELP, CAN USE THIS GROUP TO KIND OF HELP MCKINNEY WITH THAT OPPORTUNITY THAT MAY BE MORE DIFFICULT TO SOLVE IN TRADITIONAL WAYS. SO WE DEFINITELY DO THAT AS WELL. WITH THAT, MR. MAYOR, I'D LIKE TO BRING UP DAVID STEELE, THE DIRECTOR OF PLUG AND PLAY. PLUG AND PLAY IS OUR PARTNER.THEY'VE BEEN WITH US FOR TWO YEARS. AND WHAT THEY DO, THEY'RE BASED IN SILICON VALLEY.
THEY HELP ACCELERATE OUR STARTUPS TO DIFFERENT STAGES OF DEVELOPMENT AND SPECIFICALLY WITHOUT STEALING HIS THUNDER. WHAT THEY DO IS THEY PARTNER STARTUPS WITH CORPORATIONS WITH PROBLEMS. IT'S BEEN A VERY SUCCESSFUL PARTNERSHIP TO DATE, AND WE LOVE THAT. THIS TWO YEAR ANNIVERSARY, MARK, FOR MR. STEELE TO COME UP AND KIND OF SAY A FEW WORDS ABOUT PLUG AND PLAY AND WHAT THEY'RE DOING FOR US, YOU DID. THANK YOU. MICHAEL. MAYOR, CITY COUNCIL MEMBERS, ALL COMMUNITY MEMBERS HERE. AS A RESIDENT OF MCKINNEY, I AM EXTREMELY EXCITED TO HAVE THIS CONVERSATION. MIKE DID SAY THAT WE WERE BASED IN SILICON VALLEY, BUT I AM BASED HERE AND HAPPY TO TO BE PART OF THIS PARTNERSHIP. SO WE'LL WALK THROUGH ABOUT THE IMPACT THAT WE'VE DONE. PLEASE FEEL FREE TO STOP ME AT ANY TIME TO ASK ANY QUESTIONS ON THE BACK END OF THIS, JUST FOR EVERYBODY'S AWARENESS. AGAIN, WE'LL GO THROUGH JUST KIND OF THE THREE PILLARS THAT PLUG AND PLAY IS AS AN ECOSYSTEM. NUMBER ONE IS INNOVATION PROGRAMS. WHAT YOU SEE HERE LOCALLY, WHAT WE RUN OUR ENTERPRISE AI AND FINTECH PROGRAMING, WHERE WE'RE REALLY TRYING TO DIVE INTO ENGAGING WITH STARTUPS, TECHNOLOGY AT AN EARLY STAGE AND BRINGING IN CORPORATE INNOVATION AND CORPORATE PARTNERS TO MCKINNEY TO BE ABLE TO ENGAGE WITH THESE STARTUP TECHNOLOGIES THAT ARE LOCAL, AS WELL AS BRINGING STARTUP TECHNOLOGIES FROM AROUND THE GLOBE HERE TO THE LOCAL AREA. THE SECOND PIECE IS CORPORATE INNOVATION, AS WE'VE ALLUDED, AND YOU WILL SEE A LITTLE BIT MORE DETAIL OF SOME OF THE PARTNERS THAT WE'VE WORKED WITH IN THE ECOSYSTEM ALREADY. WE HAVE ABOUT 600 CORPORATE PARTNERS ACROSS THE GLOBE THAT WE ENGAGE WITH AND ACROSS 26 DIFFERENT INDUSTRIES. THE WHOLE GOAL OF THAT IS TO BE ABLE TO BRING AWARENESS, TO BE ABLE TO DRIVE PILOTS AND PARTNERSHIPS AND DRIVE ENGAGEMENT BETWEEN OUR CORPORATE PARTNERS AND THE STARTUP TECHNOLOGIES THAT WE SEE ON A DAILY BASIS IN THE LOCAL ECOSYSTEMS. THE FINAL PIECE IS VENTURE CAPITAL. THIS IS WHERE PLUG AND PLAY STARTED AND WILL CONTINUE TO BE. PLUG AND PLAY IS ONE OF THE MOST ACTIVE VENTURE CAPITAL FIRMS IN THE WORLD, WHERE WE RANK BETWEEN NUMBER ONE AND NUMBER THREE ON AN ANNUAL BASIS, WITH THE AMOUNT OF CHECK SIZES THAT WE THAT WE DO, WRITE OUT, THOSE CHECK SIZES FROM THE FAMILY OFFICE DO RUN ANYWHERE BETWEEN 100,000 UP TO 250,000 PER DEAL.
AND WE HAVE FIVE SPECIFIC FUNDS THAT WE WILL WRITE CHECK SIZES FROM 1 MILLION TO $2.5 MILLION AS WELL, OUT OF OUT OF INDUSTRY SPECIFIC FUNDS. SO VERY ACTIVE ON THE VC SIDE. AS WE TALKED ABOUT THE TWO TWO PROGRAMS THAT WE WILL HIGHLIGHT AND THE IMPACT THAT WE ARE MAKING HERE IN THE CITY RIGHT NOW IS ENTERPRISE AND AI AND FINTECH. AS EVERYBODY KNOWS, AI IS THE BIG BUZZWORD AND THE KEY WORD. AND I THINK THE VISION AND MISSION THAT THE CITY HAS LAID OUT TO BE TWO YEARS AGO WAS TO BE THE FLAG HOLDER OF THE AI CAPITAL OF THE UNITED STATES OF THE WORLD, AND WE'RE HOPING TO BE ABLE TO CONTINUE TO DRIVE THAT WITH THE IMPACT THAT WE'RE MAKING ON A LOCAL BASIS. THE PARTNERSHIP WITH FINTECH HAS BEEN BEEN GREAT TO BUILD AWARENESS, BUILD TECHNOLOGY AND DRIVE THE LOCAL ECOSYSTEM FROM A FINANCIAL SERVICE MARKET AND SOMETHING THAT IS NOT IN HERE THAT WE WILL BE TRYING AND TRIALING OUT FOR THIS NEXT BATCH AND PROGRAMING AS OUR TRAVEL AND HOSPITALITY VERTICAL, REALLY, REALLY CAPITALIZING ON THE WORK THAT THE CITY HAS DONE WITH THE WITH THE THE AIRPORT COMING IN, WITH THE NEW HOTELS BEING IN PLACE AND THE NEW ENTERTAINMENT DISTRICT, WE REALLY WANT TO HIGHLIGHT AND SHOWCASE THIS TO THE GLOBAL AREA, THAT MCKINNEY IS NOT JUST AN AREA FOR BUSINESS DEVELOPMENT, BUT IT'S AN AREA FOR TRAVEL AND HOSPITALITY FOR OTHER PEOPLE TO COME TO. SO YOU WILL SEE A LITTLE BIT OF A SHIFT FROM THE PROGRAMING. AI AND ENTERPRISE WILL STAY, FINTECH WILL PIVOT OUT A LITTLE BIT AND TRAVEL AND HOSPITALITY WILL BE A VERSION, BUT WE'LL SPEAK HIGHLY TO TO THE IMPACTS THAT WE'VE DONE ON THESE LAST, THESE LAST TWO ONES. ONE OF OUR BIG GOALS WHEN WE COME INTO A DIFFERENT MARKET, AS YOU SAW IT, THERE'S 67 GLOBAL OFFICES. BUT OUR GOAL HERE LOCALLY IS TO REALLY HIGHLIGHT THE CITY AND THE PARTNERS THAT WE'RE WORKING WITH. WHEN YOU LOOK AT THESE BRANDS, WHEN YOU LOOK AT THE CITIES THAT ARE HIGHLIGHTED ON
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THIS SPECIFICALLY IS WHERE THE MCKINNEY BRAND HAS BEEN SHOWCASED, SHOWED AND PERSONALLY ELEVATED, WHETHER THAT'S WITH A CORPORATION, WITH A STARTUP, TECHNOLOGY WITH A DELEGATION, OR AN OPPORTUNITY IN REVERSE PITCH FOR FOR ENTITIES TO SEE WHAT'S HAPPENING. SO WHEN WE LOOK AT HOW WE'RE BUILDING THE INTERNATIONAL ECOSYSTEM, WE KNOW THAT WE'RE TELLING THE MCKINNEY STORY, THE MCKINNEY INNOVATION EXCHANGE, THE MCKINNEY INNOVATION FUND TO ALL OF THESE AREAS ON A REGULAR BASIS. THESE ARE ONES THAT WE CAN ALL KIND OF BUILD BACK TO. SO IF YOU WANT FURTHER INFORMATION, I'M MORE THAN WILLING TO SHARE THOSE OTHER PIECE. WHEN WE TALK ABOUT THE INTERNATIONAL VISIBILITY FOR THE CITY OF MCKINNEY IS LOOKING AT THE INTERNATIONAL STARTUPS THAT ARE HOSTING. WHEN YOU LOOK AT THE OPPORTUNITY THAT THE STARTUPS HAVE BEEN PART OF, THE BATCH PROGRAMS THAT HAVE CAME HERE FROM THE EU, ASIA AND LATAM AREAS HAVE ALL HAD THE OPPORTUNITIES TO SEE WHAT THE CITY IS ALL ABOUT AND SEE WHAT THE STORY THAT IS BEING TOLD AND THE OPPORTUNITIES THAT ARE HERE FOR EITHER US EXPANSION OR RELOCATION. AND THEN THE FINAL PIECE IS, IS THE OTHER PIECE THAT WE WANT TO BRING TO THE TEAM, THE EDC BOARD, CITY COUNCIL, ARE THESE DELEGATION TRIPS WHEN WE GO OUT, WHEN YOU GO GOING OUT TO MARKET AND THE OPPORTUNITY TO BE IN THESE OTHER AREAS, WE REALLY WANT TO STRIVE ON MAKING SURE THAT YOU'RE WELCOME THERE. AS YOU SEE, WE HAVE A LOT OF TOUCH POINTS AND A LOT OF DIFFERENT COUNTRIES, OVER 50 COUNTRIES AT THIS POINT. SO WHEN WHEN WE'RE OUT, WHEN YOUR TEAM IS OUT, WE WANT TO BE THE RESOURCE TO MAKE SURE THAT'S HAPPENED. AND WE'VE BEEN ABLE TO DO THAT IN A COUPLE OF DIFFERENT COUNTRIES THAT HAVE HIGH TARGET AREAS THAT HAVE LED TO SOME REALLY FRUITFUL CONVERSATIONS BACK FOR OUR PARTNERS IN THE ECONOMIC DEVELOPMENT CORPORATION. THREE BIG THINGS WHEN I LOOK AT MCKINNEY IN THE VISION AND THIS IS FUNNY THAT MIKE HAD THIS ON HERE BECAUSE I DIDN'T SEE IT WAS THE LEAD GROW AND COMPETE. RIGHT. AS A RESIDENT, THESE ARE THE THREE THINGS THAT I SEE AND THAT THESE ARE THE THREE THINGS THAT YOU GUYS ARE PUTTING OUT INTO THE ECOSYSTEM. YOU WANT TO LEAD AND YOU WANT TO OWN NOT ONLY WHAT'S HAPPENING IN NORTH TEXAS AND IN THIS REGION, BUT YOU WANT TO LEAD AS AN INDUSTRY, AS AN INDUSTRY PROFESSIONAL ACROSS THE NATION AND ACROSS THE GLOBE. THE GROWTH, THE GROWTH IS HAPPENING. WE'RE NOT STOPPING THAT. WE'RE EMBRACING IT AND WE'RE MOVING FORWARD. AND SO WE WANT TO BE ABLE TO GROW AND HELP KIND OF BE THOSE PIECES TOGETHER. AND THEN SOMETHING I DON'T KNOW IF YOU GUYS HAVE SEEN THIS OR NOT, BUT Y'ALL ARE PRETTY COMPETITIVE. AND YOU'RE NOT JUST FROM THE ASPECTS OF WHAT YOU'RE DOING FROM A BUSINESS AND AN INDUSTRIAL. YOU GUYS WANT TO WIN, AND THAT'S SOMETHING THAT'S EXCITES US. AND SO WHEN WE LOOK AT GOING OUT AND COMPETING FOR THIS CITY AND COMPETING FOR THIS BRAND, THESE ARE THE PIECES THAT WE REALLY INFLUENCE AND AND REALLY WANT TO SHOWCASE THROUGH THESE THINGS. THREE KEY PIECES THAT I WANT TO HIT ON THIS FOR THE LOCAL IMPACT SPECIFICALLY IS THE INNOVATION FUND IMPACT. WHEN YOU LOOK AT THE INNOVATION FUND AND THE GROWTH THAT HAS HAPPENED OVER THE LAST TWO YEARS, OVER THREE AND A HALF TIMES, THE APPLICATIONS HAVE COME THROUGH SINCE THE PLUG AND PLAY PARTNERSHIP. NOW THAT'S ALL BECAUSE ECOSYSTEM BUILDING, RIGHT. THAT'S NOT I'M NOT GOING TO TAKE ALL OF THE CREDIT FOR THOSE PIECES. OUR TEAM'S NOT GOING TO TAKE ALL THE CREDIT FOR THOSE PIECES. BUT THAT'S WHAT THE ECOSYSTEM DRIVES. THAT'S WHAT AN INTERNATIONAL BRAND LIKE OURSELVES BRING TO THE ECOSYSTEM. AND THE CONVERSATIONS THAT HAVE ALLOWED OTHER BRANDS AND OPPORTUNITIES TO SEE THAT MCKINNEY IS FOCUSED ON INNOVATION. WITH THAT, WE'VE BEEN ABLE TO LEAD SPECIFICALLY A THOUSAND DIFFERENT INTERESTED STARTUPS THAT WE'VE HAD ON OUR PORTFOLIO TO HAVE CONVERSATIONS OR INTEREST TO MOVING TO THE CITY OR LOOKING AT THE INNOVATION EXCHANGE AS AN OPPORTUNITY WITH THAT. THAT HAS LED TO A LITTLE BIT OF A BACKLOG. WE'VE BEEN ABLE TO HELP SOURCE AND BRING THAT BACK TO PACE ON, ON A COUPLE OF DIFFERENT ENTITIES, JUST BECAUSE OF HOW MUCH STRUCTURE AND HOW MUCH WORK THAT GOES INTO THOSE DEAL FLOWS. AND THE TEAM AT MCKINNEY EDC HAS DONE A GREAT JOB IN MAKING SURE THAT THOSE CONVERSATIONS ARE HAPPENING AND THE INVESTMENTS ARE HAPPENING, BUT WE WANT TO MAKE SURE THAT WE'RE TAKING THE OPPORTUNITIES TO REALLY TELL THAT STORY UP FRONT FOR ALL OF THOSE STARTUPS TO UNDERSTAND WHAT IS HAPPENING ON THAT SIDE. OUTSIDE OF THAT, OUR PLUG AND PLAY ACCELERATOR HAS ACCELERATED OVER 70 STARTUP TECHNOLOGIES FROM ACROSS THE GLOBE THAT HAVE ENGAGED IN THE CITY IN SOME WAY, SHAPE OR FORM. WITH THAT HAS BEEN OVER 50 CORPORATE ENGAGEMENTS WORKING WITH THOSE STARTUPS AND EITHER PILOTS, PARTNERSHIPS, PROOF OF CONCEPTS, WORKING FOR MVPS ALL THE WAY UP TO TO FULL DEALS THAT ARE BEING DONE. SO THAT IMPACT IS STARTING TO CONTINUE TO GRAB TRACTION. THOSE THOSE FUNDS THAT ARE CONTINUING TO BE INVESTED FROM THE INNOVATION EXCHANGE WILL CONTINUE TO GROW THROUGH THE IMPACT OF THE RELATIONSHIP THAT WE'RE CONTINUING TO WORK WITH YOU GUYS ON FROM THE COMMUNITY ENGAGEMENT. THIS IS A LOCAL TEAM ASPECT. WE REALLY, TRULY BELIEVE IN ENGAGING IN OUR COMMUNITY AND HOW WE WANT TO IMPACT. I KNOW COUNCILMAN BELLER WAS VERY IMPLEMENTAL IN THE IN THE PROJECT CARE AND GROUP, AND I KNOW A COUPLE. CITY MANAGER GRIMES WAS OUT THERE WITH US AND THE OPPORTUNITY TO SEE WHAT WAS HAPPENING. WE HAD TEN LOCAL STUDENTS REALLY BE ABLE TO BUILD A COMPANY FROM UTILIZING AI TECHNOLOGY. WE WERE ABLE TO GO OUT AND LEVERAGE OUR RELATIONSHIPS WITH BRANDS LIKE LENOVO AND AMC AND NVIDIA TO BRING IN TECHNOLOGY AND BRING IN HARDWARE FOR THOSE STUDENTS ACTUALLY COULD BUILD THEIR COMPONENTS IN CITIES. SO FOR US BEING ABLE TO GIVE BACK TO TO THAT GROUP WAS SOMETHING VERY SPECIAL FOR US. AND WE WANT TO CONTINUE TO DO THOSE. AND SO WHEN PROJECTS ALIGN THAT YOU GUYS SEE ON A DAILY BASIS, PLEASE REACH OUT TO US BECAUSE THAT LOCAL ENGAGEMENT IS VERY IMPORTANT. ANOTHER THING THAT WE TRY TO STAY VERY ENGAGED WITH IS ALL OF OUR CHAMBER EVENTS, CITY HALL EVENTS, ANYTHING THAT WE CAN SHOW UP AND SHOW OFF FOR, WE WANT TO MAKE SURE THAT WE'RE ENGAGING EITHER SPONSORED, SPONSORED REVENUE BACK TO THEM OR JUST ENGAGING FROM THE THE CEO[00:20:02]
SERIES, THE STATE OF THE CITY, ANY ASPECTS THAT WE CAN REALLY COMMUNICATE. SO FOR US, COMMUNITY ENGAGEMENT IS A BIG PART OF THE PILLARS THAT WE'RE TRYING TO WORK ON HERE IN THE CITY AND THEN THE CAPITAL IMPACT. I THINK THE BIG ONE ON THIS ONE THAT I REALLY WANT TO HIGHLIGHT IS THE GROWTH FROM BATCH ONE AND YEAR ONE TO BATCH TWO, THE CAPITAL RAISE COMING OUT OF BATCH ONE FROM THE STARTUPS THAT RAN THROUGH THAT, WHETHER THEY WERE LOCAL TO THE NORTH TEXAS REGION OR WHETHER THEY WERE PART OF THE GLOBAL, WAS A LITTLE OVER 300,000. THAT HAS NOW GROWN TO 11.3 MILLION IN CAPITAL RAISE FOR THESE NEXT COUPLE STARTUPS THAT HAVE CAME THROUGH THE BATCHES THROUGH YEAR TWO, WE'LL CONTINUE TO SEE THOSE CAPITAL RAISE AND THE IMPACT THAT IS MAKING BECAUSE OF WHAT THE PROGRAM AND WHAT THE CITY BRANDING AND WHAT ALL OF THE ASPECTS ARE DOING FROM THE LOCAL INVESTORS AS WELL AS OUR GLOBAL ECOSYSTEM. AND SO THAT PIECE IS ANOTHER BIG PART OF WHAT WE'RE DOING FROM AN IMPACT STANDPOINT. I'LL PAUSE HERE FOR A SECOND BEFORE CONTINUING IF THERE'S ANY QUESTIONS ON THOSE FIRST COUPLE OF QUESTIONS. YEAH, I'VE GOT A COUPLE. SO START ON THE SLIDE HERE. YOU'VE GOT A NOTE THAT THERE ARE 70 OR 70 STARTUPS. GIVE US GIVE US THE THE BLOW BY BLOW OF THE LAST DEAL. YOU COMPLETED THE BLOW BY BLOW IN THE LAST. FROM A STARTUP STANDPOINT ON THE INVESTMENT SIDE. SO THE INVESTMENT PIECE FOR FOR MCKINNEY WAS ACTUALLY MORE ON THE ACQUISITION PIECE.AND I'M BLANKING ON THE NAME OF THE COMPANY THAT DID THROUGH THE ACQUISITION SIDE. SO THE 70 STARTUPS HERE ARE HIGHLIGHTED FOR THE COHORT. AND SO THESE ARE THE ONES THAT ARE GOING THROUGH THE ACCELERATOR. AND SO THESE ARE THE ONES THAT ARE DRIVEN FROM THE CORPORATIONS THAT WE'RE WORKING WITH. SO OUR CORPORATE PARTNERS. SO WHEN YOU LOOK AT LIKE THE NTT DATA'S OF THE WORLD, THE AXIS OF THE WORLD, THE LENOVO'S YOU GUYS, WHAT YOU'LL GET IS YOU'LL GET A TOP LIST AND A SELECTION PROCESS FOR FOR ABOUT 50 DIFFERENT STARTUPS THAT HIT A CRITERIA. WE THEN GO THROUGH, AND WE BURY THOSE DOWN TO ABOUT TEN OF THOSE THAT COME TO THE CITY, TO OUR ABOUT 25 OF THOSE COME TO THE SELECTION DAY IN THE CITY. THOSE ARE THEN VOTED ON FROM OUR SELECTION COMMITTEE, AND THEN THOSE GO THROUGH OUR DEVELOPMENT PIECE. AND SO IT'S A 12 WEEK PROCESS OF HOW THOSE COMPANIES GO FROM ACCELERATION. AND SO ALL OF THEM ARE DIFFERENT STAGES. SOME OF THEM WE WILL INVEST IN, SOME OF THEM WE WON'T INVEST IN BECAUSE IT COULD BE OFF ON THE THESIS ON THAT SIDE. WE'LL CAN PROVIDE MORE DETAIL ON ON A SPECIFIC ON OUR INVESTMENT PIECE. I DON'T HAVE THAT INFORMATION RIGHT OFF. YOU HAVE ANY DEAL THAT YOU'VE DONE THAT YOU'VE COMPLETED, YOU MAKE AN EXCELLENT PRESENTATION. SO I'M JUST TRYING TO BRING IT DOWN TO WHERE YOU'RE GOING TO GET INTO A DEAL THAT YOU'VE THAT YOU'VE CLOSED. YEAH. AND I CAN SPEAK FROM, FROM OUR INVESTMENT STANDPOINT. I'D HAVE TO I'D HAVE TO GO WITH OUR VENTURE SIDE. I COULDN'T PULL THAT OFF. AND I'VE GOT SOME INFORMATION HERE ON THE INVESTMENT PIECE. A LITTLE BIT LATER ON WE CAN HIT ON. BUT OFF THE TOP OF MY HEAD, I DON'T HAVE THAT LAST QUESTION. YOU HAD MENTIONED $2 MILLION IN ABOUT THE SECOND OR THIRD SLIDE.
WAS THAT $2 MILLION? WHAT VC IS WILLING TO GIVE TO ONE PROSPECT, OR IS THAT A GO AHEAD? YEAH, YEAH. FROM THAT'S FROM OUR STANDPOINT, FROM AN INVESTMENT STANDPOINT. WE'RE WILLING TO GIVE THAT TO ONE PROSPECT. SO CHECK SIZES FOR US ARE 100,000 UP TO TWO, ABOUT $2 MILLION ON INVESTMENT. I WOULD SAY ABOUT 250 OF THOSE INVESTMENTS SIT BETWEEN 100,000 TO 250,000. AND THEN OUR SMALLER INVESTMENTS WHERE WE WRITE CHECKS, FOLLOW ONS WHERE OUR PRO RATA, OR WE'LL SIT IN THAT 1 TO 2.5 MILLION OUT OF OUR FUNDS THAT WE'RE DEPLOYING CURRENTLY.
THANK YOU. ALL RIGHT. WE'LL CONTINUE ON FROM THIS SIDE. COMPANIES RELOCATION, EXPANSIONS, FACILITATION. WE KNOW IT'S A VERY IMPORTANT FROM THE ECONOMIC DEVELOPMENT SIDE TO WORK THROUGH THE RELOCATION, THE JOB CREATION AND THEN THE BIG ASPECTS HERE. SO WHEN WE LOOK AT A COUPLE OF THESE, THE INNOVATION EXCHANGE, THESE ARE ALL COMPANIES THAT WE ENGAGE WITH ON A DIRECT STANDPOINT. BIBLE DUKE AI AND EDEN LUX. WHEN YOU LOOK AT THE INDIRECT SIDE, THESE ARE COMPANIES THAT WE'VE EITHER BROUGHT EITHER THROUGH THE ECOSYSTEM THAT IS ALSO ON A FOLLOW UP SHEET, CAN PROVIDE THOSE COMPANY NAMES TO YOU AS AS NEEDED. BUT THOSE COMPANIES ARE IN ADDITION TO THE INNOVATION FUND, THROUGH CONVERSATIONS THAT WE'VE HAD WITH THEM, THROUGH OUR OTHER PROGRAMS, OUTSIDE OF WHAT WE'RE DOING IN THE MCKINNEY PROGRAM.
AND SO THE MCKINNEY PROGRAM GETS TO HIGHLIGHT AND SHOWCASE ACROSS THE OTHER ONES, WHICH THEN ALLOWS THE FURTHER CONVERSATION FOR THE INNOVATION FUND INVESTMENTS. WHEN YOU LOOK AT FOUNDERS AND ORGANIZATIONS FROM A LOCAL STANDPOINT, THESE ARE THE BIG PIECES THAT WE'RE WE'RE KIND OF LOOKING AT FOR FOR THE OPPORTUNITY. I THINK ONE MAYOR COX THAT CAN KIND OF SPEAK ON ON THE IBM WATSON X AND THE EMBEDDED AI, THAT WOULD BE ONE THAT REALLY KIND OF FOCUSED ON THE PRIVATE MEETINGS WITH INNOVATION FUND PORTFOLIOS. AND SO THESE ARE ORGANIZATIONS THAT WE'RE NOT ONLY TAKING OUR BATCH, EXCUSE ME, OUR BATCH STARTUPS THAT WE'RE WORKING WITH FROM OUR TRADITIONAL ACCELERATOR. WE'RE ALSO WORKING WITH THE MCKINNEY EDC ON THE INNOVATION FUND TO GIVE THEM ACCESS TO OUR GLOBAL NETWORK. AND SO WHEN YOU'RE LOOKING AT THOSE COMING ACROSS THOSE COMPANIES, COMING ACROSS THOSE REVERSE PITCHES FROM LIKE AN IBM WATSON, THOSE INNOVATION COMPANIES GET THE OPPORTUNITY TO SEE THOSE AS WELL. WHEN YOU LOOK AT IT, THE MCKINNEY INNOVATION FUND WAS A STARTUP THAT WE ENGAGED WITH EARLY ON, AS WELL AS THE LOCAL ECOSYSTEM HERE TO REALLY BRING THEM IN AS THEY JUST GOT THEIR INVESTMENT.
AS ONE OF THE PICTURES THAT MISTER KOSKI WAS ABLE TO SHOW SHOWCASE EARLIER WAS THE FOUNDER UP THERE SIGNING THAT INNOVATION FUND. AND SO THIS HAS ALL BEEN PART OF THE PROCESS OF THE ECOSYSTEM BUILD OUT THAT WE'VE BEEN ABLE TO TO REALLY KIND OF HELP ENHANCE AND
[00:25:04]
HONE IN ON AS WE'VE LOOKED FORWARD OVER THE LAST TWO YEARS. OTHER BIG ASPECT THAT WE KNOW IS IMPORTANT TO THIS CITY IS WORKFORCE DEVELOPMENT. WE'VE PARTNERED WITH WORKFORCE SOLUTIONS FOR NORTH CENTRAL TEXAS. THIS IS SOMETHING THAT'S CONTINUING TO WORK ON WITH LGA.I KNOW THAT'S SOMETHING THAT YOU GUYS HAVE BEEN VERY INVOLVED WITH RECENTLY AND WILL CONTINUE ON WITH OUR NEXT MEETING HERE IN MARCH, BUT OUR FOCUS WITH THEM IS REALLY DRIVING INNOVATION FROM THE FROM THE ISD UP TO THE UNIVERSITY, UP TO THE WORKFORCE, UP INTO THE COMMUNITY, WORKING WITH THE CORPORATIONS AND BUILDING PARTNERS. SO WORKING WITH THEM THROUGH A COUPLE OF DIFFERENT WAYS, THROUGH JOB PATHWAYS, THROUGH THROUGH WORKING SESSIONS, THROUGH CONNECTING NEW BUSINESSES TO THE TALENT POOLS ACROSS THE ECOSYSTEM. SO JUST A CONTINUED PARTNERSHIP AND JOINT PARTNERSHIP BETWEEN ALL OF US AS WE CONTINUE TO DRIVE THIS ECOSYSTEM FORWARD. BUT THIS IS ONE THAT WE'RE REALLY EXCITED ABOUT AND BEING ABLE TO SHOWCASE BECAUSE OF THE IMPACT THAT IT CAN MAKE ON A DAY TO DAY BASIS WITH JOB CREATION, CORPORATE ENGAGEMENT. AS WE TALKED ABOUT THIS AS A PROBABLY A THIRD OF THE CORPORATIONS THAT WE'VE ENGAGED WITH THROUGH THE MCKINNEY PROGRAM, THESE ARE ALL ORGANIZATIONS THAT HAVE EITHER SEEN AN INNOVATION FUND PORTFOLIO COMPANY OR A MCKINNEY BATCH COMPANY, OR HAVE ENGAGED LOCALLY HERE IN THE ECOSYSTEM IN THE CITY OF MCKINNEY IN ONE WAY, SHAPE OR FORM THROUGHOUT THIS PROCESS OF THE LAST TWO YEARS. SO YOU SEE SOME OF THE LOCAL BRANDS, OF COURSE, BUT SOME OF THE OTHER BIGGER BRANDS, THE GLOBAL BRANDS THAT WE'VE BEEN ABLE TO BRING EYES AND AWARENESS TO IN PARTNERSHIP HERE HAS BEEN SOMETHING THAT HAS BEEN VERY, VERY ADVANTAGEOUS FOR US BECAUSE THEY'RE LOOKING FOR OPPORTUNITY AND GROWTH OUTSIDE OF THE METROS THAT THEY'RE ALWAYS LOOKING FOR. SO ALL OF THESE WORK WITH US IN DIFFERENT WAYS, WHETHER THAT'S DEAL FLOW CONVERSATIONS OF LOOKING AT INVESTING IN STARTUPS, WHETHER THAT'S WORKING THROUGH PILOTS, WHETHER THAT'S WORKING TO ENGAGE AS MENTORS. BUT WE CAN KIND OF SPEAK TO TO THOSE IN A DIFFERENT REALM AS WELL, IN A LITTLE BIT MORE DETAIL. BUT LIKE I SAID, THIS IS ABOUT A THIRD OF THE ENGAGED CORPORATIONS AND PARTNERSHIPS THAT WE'RE WORKING WITH ON A DAY TO DAY BASIS TO MAKE SURE THAT THEY'RE SEEING THE CITY AND HOW THE CITY IS ENGAGING AND GIVING OPPORTUNITY FOR THE CITY TO TO ENGAGE WITH THEM IN DIFFERENT REALMS AS WELL. YEAH. THIS IS A VERY POWERFUL SLIDE, BECAUSE MANY OF THESE COMPANIES ARE NOT LOCATED IN MCKINNEY. RIGHT. BUT IT GIVES US A TOUCH POINT. SO THROUGH THE PLUG AND PLAY NETWORK, THEY NOW KNOW ABOUT MCKINNEY. THEY COME TO OUR EVENTS BECAUSE THEY TALK TO US. SO WHEN THEY DO DECIDE TO MAYBE EXPAND THEIR MAIN FOOTPRINT OR HAVE SOME SPIN OFF FOOTPRINTS, MCKINNEY IS NOW TOP OF MIND. SO VERY POWERFUL RELATIONSHIPS ARE BEING BUILT BEHIND THE SCENES ALL THE TIME. APPRECIATE THAT. ANOTHER BIG FOCUS IS ON OUR EDUCATION AND ISD DISTRICT PARTNERSHIPS. OUR TEAM AGAIN, WE TALKED ABOUT COMMUNITY IMPACT AND HOW WE ENGAGE. I THINK THIS IS SOMETHING THAT WE I WANT TO SPEAK ON A LITTLE BIT MORE ON OUR LOCAL TEAMS, BECAUSE THIS IS NOT SOMETHING THAT THE PLUG AND PLAY MODEL TRADITIONALLY DOES. PLUG AND PLAY IS TRADITIONALLY FOCUSED ON CORPORATE INNOVATION AND BRINGING THOSE CORPORATE RELATIONS THAT INVESTOR SIDE, THE COMMUNITY SIDE IS SOMETHING THAT WE FOCUS ON HEAVILY AS A TEAM AND WE REALLY ENGAGE LOCALLY, AND THAT IS UP TO US TO BUILD THAT AUTONOMY. SO WHAT WE'VE ACTUALLY WENT IN AND DID HAS WORKED WITH THE MCKINNEY ISD TO ACTUALLY GO INTO THE CLASSROOMS TO BE ABLE TO WORK WITH STUDENT PITCHES, SEE THEIR COMPETITIONS AND BE ABLE TO BE A JUDGE ON THAT, WHICH HAS ALSO LED TO OPPORTUNITIES WHERE WE SIT IN THE STATE AND REGIONAL JUDGING FOR DECA COMPETITIONS, TO REALLY BE ABLE TO SHOWCASE WHERE THOSE LEVERAGES ARE. AND SO WE'RE MAKING SURE THAT WE'RE GIVING BACK. ANOTHER PIECE IS THE UNIVERSITY HACKATHONS. AND AGAIN, THE WORKFORCE SOLUTIONS WITH ALL OF THE THE UNIVERSITIES THAT WE'RE ENGAGING ON IS WE WANT TO MAKE SURE THAT THOSE STUDENTS HAVE THE OPPORTUNITY TO COME OUT AND SEE WHAT WE'RE DOING. SO WORKING HAND IN HAND WITH COLLIN COLLEGE AND THEIR CAMPUSES TO MAKE SURE THAT THEIR STUDENTS HAVE THE OPPORTUNITIES TO SEE PITCHES, TO MAKE SURE THAT THEIR STUDENTS HAVE THE OPPORTUNITY TO SEE PROGRAMS, AND MAKE SURE THAT THEIR STUDENTS HAVE THE OPPORTUNITY TO SEE A REALM THAT HAS NOT BEEN TRADITIONAL FOR THEM IN THIS MARKET. AND SO EXCITED TO BE ABLE TO CONTINUE TO SHOWCASE THE WORK THAT'S BEING DONE ON THOSE SIDES. THE FINAL KIND OF LAST PIECE ON COMMUNITY ENGAGEMENT AND CIVIC IMPACT. THESE ARE SOME OF THE BIG FOCUS AREAS THAT WE'VE BEEN ABLE TO REALLY BRING BACK INTO THE CITY FROM A FROM A CIVIC STANDPOINT, THE WOMEN IN TECH LUNCHEONS AND THE MCKINNEY EXECUTIVE LUNCHEONS ARE SOMETHING THAT WE'RE JUST GOING TO CONTINUE TO BUILD ON AS AS SOME OF YOU HAVE PROBABLY KNOWN, PROBABLY A NEW FACE TO A LOT OF YOU GUYS HAVE BEEN REALLY KIND OF BUILDING THIS UP FOR THE LAST SIX MONTHS IN MCKINNEY ECOSYSTEM, SPECIFICALLY, AS YOU'LL SEE ON THE STEP FORWARD FOR FOR 2026, THESE ARE THE MORE ACTIVITIES AND MORE OPPORTUNITIES THAT WE WANT TO BRING. MR. WILKES, IN THE BACK OVER HERE LED THIS EXECUTIVE LUNCHEON WHERE HE BROUGHT OVER 45 DIFFERENT INNOVATION LEADERS FROM AROUND THE REGION TO THE KAIZEN BUILDING, WHERE THERE WAS A PROGRAM THAT WAS SET ON TO REALLY DIVE IN TO UNDERSTAND WHAT WHAT THE MAGIC IS, RIGHT? HOW DO WE HOW DOES THE CITY ENGAGE? HOW IS THE CITY PRO-BUSINESS, AND HOW IS THE CITY INVESTING? THIS IS ALL DRIVEN OFF OF MULTIPLE DIFFERENT RELATIONSHIPS AND MULTIPLE DIFFERENT PIECES OF OPPORTUNITY. SO FOR US, WE WANT TO BE ABLE TO BE ABLE TO CONTINUE TO DRIVE THOSE. AND WE'LL SPEAK TO THAT AS WE LOOK INTO COMING INTO 2026. WHEN WE LOOK AT THE MOMENTUM COMPOUNDING, THESE ARE THE CONVERSATIONS WE'RE HEARING.
WE'RE HEARING THIS FROM COUNCIL, WE'RE HEARING THIS FROM COMMUNITY. WE'RE HEARING THIS FROM OUR PARTNERS OF WHERE WE CAN REALLY STEP IN AND HELP A LITTLE BIT MORE. WHEN WE LOOK AT THE OFFICIAL RELOCATION PROGRAM, THIS HAS BEEN A LITTLE BIT OUT OF THIS HAS BEEN WHERE
[00:30:06]
WE'RE GROWING, RIGHT. SO 1048 STARTUP STARTUP TECHNOLOGIES FROM AROUND THE GLOBE. WE EMBEDDED THIS INTO OUR PROPRIETARY SYSTEM OF WHERE YOU WOULD LIKE TO MOVE TO, WHERE YOU WOULD LIKE MORE INFORMATION, WHERE WOULD YOU LIKE TO SEE? WE HAD 1048 STARTUPS FROM FEBRUARY OF 2025 TO DECEMBER. SAY MCKINNEY IS AN OPPORTUNITY THAT WE WOULD LIKE TO LOOK AT.THAT'S PIPELINE BUILD, RIGHT? THAT'S INNOVATION FUND BUILD, THAT STARTUP BUILD, THAT'S RECRUITMENT. NOW, WHAT WE'RE WORKING WITH, WITH THE MCKINNEY EDC IS TO WHAT'S THAT PROCESS LOOK LIKE? HOW DO WE BUILD THAT PROCESS TO MAKE SURE THAT THERE IS A SYNERGISTIC WAY TO SHOWCASE THE VALUE OF ACTUALLY BEING HERE. ANOTHER IS THE EXPANDING THE LOCAL PROGRAMING, WORKING WITH PARTNERS LIKE FLOUR MILL, THE CHAMBER OF THE SCHOOL DISTRICT TO REALLY ENGAGE WHAT IS HAPPENING IN THIS CITY, TO MAKE SURE THAT EVERYBODY HAS THE OPPORTUNITY TO LOOK AT WHAT INNOVATION LOOKS LIKE FROM AN ECOSYSTEM. SO YOU'RE GOING TO SEE US OUT A LITTLE BIT MORE. YOU'RE GOING TO SEE US MORE INVOLVED IN EVENTS. YOU'RE GOING TO SEE THAT NUMBER CONTINUE TO SCALE AS WE MOVE INTO 2026. ANOTHER BIG FOCUS IS REALLY HEAVILY ON COLLIN COLLEGE AND AN AI CENTER OF EXCELLENCE OR IN HEALTH. WE KNOW AI IS DRIVING HEALTH. WE KNOW THAT THAT COLLIN COLLEGE HAS GOT A BIG FOCUS ON THIS. AND SO WE WANT TO BE IMPERATIVE IN HELPING THEIR TEAM DRIVE WHAT AI TECHNOLOGY IS. AND SO WORKING WITH DOCTOR MATKIN AND SOME OF THE GROUP TO UNDERSTAND HOW WE BUILD SOMETHING TOGETHER WITH WITH COLLIN COLLEGE, WHICH LEADS INTO UNIVERSITY OF NORTH TEXAS AND UT DALLAS CONVERSATION AS WELL, THAT THE CITY OF MCKINNEY WILL BE ENGAGED WITH THE EXPANDED WOMEN IN TECH JUNETEENTH INITIATIVES.
THESE ARE ALL THINGS THAT WE'RE LOOKING AT TO TO BE ABLE TO HOST BACK HERE, TO BRING EYES AND AWARENESS BACK TO THE CITY AND SHOWCASING DIFFERENT PIECES ON THAT. AND THEN THE LAST ONE THAT I'LL CALL, ACTUALLY, I'LL CALL OUT TWO MORE AND THEN I'LL STOP THE, THE 2 TO 3 CORPORATE PARTNERS, JUST TO KIND OF GIVE YOU A LENS OF THE CORPORATE RELATIONSHIPS THAT ARE HAPPENING. WE'RE UNDER CONTRACT RIGHT NOW WITH CATERPILLAR, WHICH WE KNOW THE HEADQUARTERS IS JUST DOWN THE STREET, BUT THEY'RE LOOKING AT HOW THEY CAN ENGAGE IN A DEAL FLOW CONVERSATION WITH THE PROGRAM. THAT AND THE STARTUP COMPANIES THAT ARE COMING THROUGH THE INNOVATION FUND, AS WELL AS THE STARTUP COMPANIES THAT ARE COMING THROUGH OUR BATCH PROGRAMING. AND SO LOOKING FORWARD TO HAVING THAT CATERPILLAR ONE WRAPPED UP PRETTY SOON. TWO OTHER BIG ONES THAT THE BRANDS I THINK SPEAK FOR THEMSELVES IS NVIDIA AND LENOVO. THESE ARE TWO ORGANIZATIONS THAT ARE WORLD RENOWNED IN THE AI HARDWARE TECHNOLOGY SPACE THAT WANT TO ENGAGE IN NORTH TEXAS. THEY WANT TO BE PART OF WHAT WE'RE DOING. THEY WANT TO BE PART OF WHAT THE CITY IS DOING. THEY WANT TO BE PART OF THIS BRAND.
AND SO WE'RE WORKING WITH THEM HAND TO HAND TO TRY TO FIGURE OUT WHAT THAT PARTNERSHIP LOOKS LIKE. RIGHT NOW. I ACTUALLY HAVE A FOLLOW UP MEETING WITH NVIDIA IN THE MORNING, SO I'M HOPING THAT ONE GETS BOWED UP AND BUTTONED. SO EXCITED ABOUT THE CORPORATE PARTNERS AND THE ENGAGEMENT THAT ARE FINALLY COMING TO WRAP HERE. AND THEN THE FINAL PIECE IS THE MCKINNEY INNOVATION WEEK. WE'RE LAUNCHING THIS THE FIRST WEEK IN APRIL. WE'RE INVITING ALL THE STARTUPS AS PART OF OUR BATCH TO BE HOSTED BY PLUG AND PLAY FOR FOUR DAYS IN THE CITY.
WE'RE GOING TO HAVE THEM FLY IN. WE'VE GOT CURATED MEETINGS SET UP WITH ALL OF THE INVESTORS IN THE LOCAL REGION. WE HAVE CURATED MEETINGS, SET UP WITH ALL OF THE CORPORATE PARTNERS IN THE REGION. ALL OF THESE EVENTS ARE HAPPENING IN CAPSTONE WITH THE TASTE OF MCKINNEY, AND THEY EXPERIENCE OF WHAT THE CITY CAN BRING FROM A COMMUNITY AND VISIBILITY STANDPOINT. SO WITH THAT, I WILL STOP AND AGAIN, WE'LL ANSWER ANY QUESTIONS OR GET YOU THE ANSWERS TO THE QUESTIONS AS FAST AS POSSIBLE. IF I DON'T HAVE THAT ANSWERED THIS AFTERNOON, QUESTIONS OF MR. STEELE, ANYONE? ANYONE? DAVID HAD A QUESTION BACK. ONE SLIDE.
YOU MENTIONED 1048 INTEREST FROM FEBRUARY 25TH TO JUNE TO DECEMBER 25TH OUT OF 1048. HOW MANY HOW MANY CLOSES HAVE WE HAD? YEAH, THE CLOSES WOULD BE A QUESTION. I'D HAVE TO GO BACK ON THE INNOVATION EXCHANGE BECAUSE THAT'S WHERE THE THAT'S WHERE THE DELTA GAP IS. RIGHT.
AND I THINK WE HAD WE HAD A BACKLOG OF, I THINK ABOUT 250 CONVERSATIONS THAT WE'VE PUT TOGETHER THE CLOSES AND THOSE INVESTMENTS TO GET THEM HERE FROM A RELOCATION. BECAUSE PLUG AND PLAY IS NOT A RELOCATION INCENTIVE TOOL SPECIFICALLY OUTSIDE OF FILLING TOP OF FUNNEL. BUT WE WANT TO BRIDGE THAT GAP. AND SO WORKING HAND IN HAND WITH THE TEAM BEHIND US TO REALLY IRON OUT WHAT THAT LOOKS LIKE, THEY'RE DOING A GREAT JOB KEEPING PACE. WE'RE JUST CONTINUING TO KIND OF PULSE THAT FUNNEL ON THAT SIDE. SO I WOULD HAVE TO LEAN TO YOU IF YOU HAD TO PULL DOWN A FEW THINGS HERE. RIGHT NOW, THE ANSWER IS ZERO. BUT PROSPECTS THOUGH, SO 1048 WE DO THERE. THEY COME TO OUR DIVISION. THEN WE TALK TO THEM AND FIND OUT IF THEY'RE TRULY INTERESTED IN LOCATING TO MCKINNEY. WE TELL THEM MCKINNEY STORY TO THEM, AND WE DO HAVE SOME PEOPLE FLYING INTO MCKINNEY FROM AROUND THE WORLD THIS FIRST QUARTER, NEXT QUARTER OF THIS YEAR TO COME CHECK US OUT. SO THEY'RE IN THE EXPLORING STAGE, BECAUSE RIGHT NOW YOUR PORTFOLIO IS 90,000 110,000 STARTUPS IN OUR PORTFOLIO THAT WE DID A KIND OF A CALL TO ACTION TO EVERY SINGLE PORTFOLIO PARTICIPANTS SAYING, ARE YOU INTERESTED IN THE US? ARE YOU INTERESTED IN TEXAS? IF SO, DO YOU KNOW ABOUT MCKINNEY? AND MANY PEOPLE SAID YES. AND THEN WE VET, THEY VET THOSE OUT AND THEN WHITTLE IT DOWN TO A GROUP THAT HAS SOME PROSPECTS TO IT. SO THIS IS A NEW ENDEAVOR WE'RE STARTING. SO WE'RE STILL IN THE EARLY DAYS. THANK YOU. THANK YOU. ANYONE ELSE? DAVID, THANK YOU FOR YOUR
[JOINT MEMBER COMMENTS]
[00:35:02]
PRESENTATION I APPRECIATE IT. APPRECIATE Y'ALL. COUNCIL COMMENTS REGARDING MDC'S UPDATE ANYONE? MAYOR MILLER. COUNCILMAN WARD APPRECIATE YOUR QUESTION, MR. MAYOR. I KNOW WE HAD A LOT OF INFORMATION TODAY AND CERTAINLY NOT TO GLOSS OVER DAVID AND MIKE YOUR PRESENTATION, BUT THERE IS SO MUCH GOING ON IN A GOOD WAY IN MCKINNEY. WE APPRECIATE WHAT YOU GUYS AND YOUR AND LADIES, WHAT YOU'RE DOING BEHIND THE SCENES, IF YOU WILL. WE TRULY APPRECIATE IT. THANK YOU. IF THERE'S NOTHING ELSE, WE ARE GOING TO ADJOURN AND YOU'RE GOING TO RECESS. SO WE NEED A MOTION TO ADJOURN. SO MOVED. MOTION BY MAYOR PRO TEM FELTUS AND A SECOND BY COUNCILMAN FRANKLIN TO ADJOURN CITY COUNCIL WORK SESSION. ALL THOSE IN FAVOR SAY AYE. AYE. THOSE OPPOSED? SAME SIGN. IT'S 411 AND CITY COUNCIL IS ADJOURNED.[EXECUTIVE SESSION - MEDC only]
IN ACCORDANCE WITH THE GOVERNMENT. SECTION 571, SUB, PARAGRAPH TWO. CONSULTATION WITH. REGULAR SESSION. I CAN'T FIND THE VICE. ABOUT THE DELIBERATIONS. INSTEAD, I'M INCLUDING DELIBERATIONS ON THE PROPERTY. LIBERATION OF THE MEMBERS OF POSTED ON THE AGENDA AT THIS TIME. 4:11 P.M. WE WILL RETURN EXECUTIVE SESSION TO MICHAEL JONES. THERE WILL BE ACTION. SO? SO WE DON'T GO IN THERE. TO FIND YOU YESTERDAY. THANK YOU. YOU TOO.CONGRATULATIONS. THAT'S AWESOME. ALL RIGHT. WE'RE ALL RIGHT, SENOR. THANK YOU. THANK YOU, MY FRIEND. I THINK YOU WERE GOOD TO GO, MOM. PROJECT WOODLAND HAS. SHARING. I'LL MAKE A MOTION THAT WE ADJUST OUR AGREEMENT AS PER OUR DISCUSSION. TO TURN OFF. WE TURN HIS MIC ON.
[ACTION ON MEDC EXECUTIVE SESSION ITEMS]
SAY THAT ALL OVER AGAIN. THANK YOU. SORRY, MR. CHAIRMAN, I'LL MAKE A MOTION THAT WE ADJUST OUR AGREEMENT FOR THE DISCUSSION. THANK YOU. SECOND. ALL RIGHT. WE HAVE A MOTION BY AND SECOND EARTH. AND IF YOU VOTE YES, PLEASE. ALL IN FAVOR? I MOTION PASSES UNANIMOUSLY.NEXT, WE HAVE A MOTION ON THE. MR. CHAIRMAN, I'LL MAKE A MOTION THAT WE ADJUST OUR TIME FRAME WITH REGARD TO OUR AGREEMENT WITH TECH LEADERS FOR. THE SECOND TIME. THANK YOU. I HEARD A. ENTERTAIN A MOTION ON THE. MOTION THAT WE ALSO ADJUST OUR TIME FRAMES ASSOCIATED WITH OUR AGREEMENT FOR THE DISCUSSION. THANK YOU FOR THAT. SECOND. I HAVE A MOTION AND A SECOND BY OHIO STATE. SCOTT AT THE HUMAN FACE, LIKE I THINK HE WORKED IN. ALL IN FAVOR, RAISE YOUR HAND. I MOTION PASSES. NEXT, WE HAVE A MOTION ON THE NEW. MOTION. MR. CHAIRMAN, I MAKE A MOTION THAT WOULD BE JUST OUR AGREEMENT OR OUR DISCUSSION IS A SESSION. AND I WILL SAY THAT WE HAVE A MOTION BY PAT AND SECOND, BY JULIE TO THE ALUMNI OF OKLAHOMA WHO ALSO LOST IN. A. THAT MOTION PASSES. AND WITH THAT, WE NEED A MOTION TO ADJOURN. I'LL MAKE A MOTION TO ADJOURN. SECOND, BY ROBERT. SECOND BY SECOND. WE ARE HERE.
* This transcript was compiled from uncorrected Closed Captioning.