City Asks Tech Incubator For More Accountability
Aldermen have approved grants totaling $50,000 for the Technology Innovation Center so far in 2012, as long as the tech incubator approaches Northwestern University for money.
Evanston aldermen voted Monday to withdraw future city funding from Evanston’s Technology Innovation Center (TIC) if the nonprofit does not meet certain benchmarks. In the past, aldermen have questioned whether the 25-year-old tech incubator was worthy of city tax dollars. Formed in 1986 as a joint venture of the city of Evanston and Northwestern University, the TIC's mission is to provide an affordable workspace and marketing, networking and guidance to startup technology companies. “Where I think a technology incubator in the city is a great idea, I just don’t see where our return on investment is,” said Ald. Coleen Burrus (8th Ward). “I just don’t think we’re actually running an incubator that’s bringing business into the community.” …
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