City of Cincinnati - File #: 202101530

• File #: 202101530
• Version: 1
• Type: Motion
• Status: Filed
• File created: 4/22/2021
• In control: Budget and Finance Committee
• On agenda: 5/3/2021
• Final action: 5/17/2021
• Title: MOTION, submitted by Councilmember Goodin, Flywheel Social Enterprise is requesting up to $300,000 to be used to expand current programs focused on racial and gender equity and on entrepreneurial ventures that advance systemic change. It is expected these funds would equip a minimum of 20 diverse startup founders and engage 50 "angel investors" to invest a minimum of $3 million in at least 15 startups, increasing employment opportunities in the Greater Cincinnati region. These funds would be matched by donations from foundations, sponsors and individuals. WE MOVE that funds from the American Rescue Plan Act be allocated to Flywheel Social Enterprise.
• Sponsors: Steve Goodin

Date	Ver.	Action By	Action	Result
5/17/2021	1	Budget and Finance Committee	Filed
5/11/2021	1	Budget and Finance Committee	Held
5/3/2021	1	Budget and Finance Committee	Held
4/28/2021	1	Cincinnati City Council	Referred to Budget & Finance Committee

title

MOTION, submitted by Councilmember Goodin, Flywheel Social Enterprise is requesting up to $300,000 to be used to expand current programs focused on racial and gender equity and on entrepreneurial ventures that advance systemic change. It is expected these funds would equip a minimum of 20 diverse startup founders and engage 50 “angel investors” to invest a minimum of $3 million in at least 15 startups, increasing employment opportunities in the Greater Cincinnati region. These funds would be matched by donations from foundations, sponsors and individuals. WE MOVE that funds from the American Rescue Plan Act be allocated to Flywheel Social Enterprise.

recommendation

BUDGET AND FINANCE COMMITTEE