The Little Rock Technology Park Authority Board voted in a special meeting Wednesday to open space in the Block2 building it leases at 107 E. Markham St. to Arkansas Venture Center for $6,500 in lease money and the cost of utilities, which is about $13,500 for 2015.
In return, the tech park continues to benefit from the Venture Center's work facilitating the growth of startup technology companies, entrepreneurs and technical talent through experimental programs, partnerships and mentoring.
"This is the start of progress that the public can see," said Technology Park Director Brent Birch. "Until now, it's all been behind the scenes."
The Little Rock Technology Park leases about 8,000 square feet on the first floor of Block2, which is close to other buildings planned for the tech park. The greater part of the space is taken by the ARK Challenge, a group similar to Arkansas Venture Center, until the end of the month. At that time, Birch will move his office to Block2, along with the Venture Center, now located in the Greater Little Rock Chamber of Commerce Building.
Most of Wednesday's meeting was taken with discussion about how the board will divide the space and the expenses that the tech park expects to incur next year, roughly $45,000. The city of Little Rock is paying the lease on the building for the first six months of the year. The tech park plans to lease seven desks in the building to one- to two-man teams for $150.
Arkansas Venture Center President Lee Watson told the board he could likely have takers for another three to five desk spaces. The Venture Center also requires desks for classrooms and workstations for an office and cubicles, plus some other furniture and technology needs.
"It definitely beats the coffee shop or working at home," Birch added. In addition, it puts like like minds within close proximity to on another for the benefit of all.
Birch referred to a recent report from the Brookings Institution touting the "open innovation" economy and how it "rewards collaboration, transforming how buildings and entire districts are designed and spatially arrayed. Our diverse population demands more and better choices of where to live, work and play, fueling demand for more walkable neighborhoods where housing, jobs and amenities intermix."
The tech park's partners include the University of Arkansas for Medical Sciences, the University of Arkansas at Little Rock and Arkansas Children's Hospital.
Little Rock Technology Park Authority Board President Mary Good reiterated her desire to have the partners represented on Arkansas Venture Center's board.
"If you want them to interact and participate, you have to get them involved," she said.
Metro on 12/18/2014