The momentum of Sacramento’s startup scene continues to build. The most recent proof came yesterday morning at The Urban Hive in Midtown as Mayor Kevin Johnson elaborated on plans to boost Sacramento’s tech scene. Addressing a crowd of hackers as well as city and state workers, Mayor Johnson outlined key points of his funding initiatives to enable entrepreneurship in Sacramento.
Innovation Growth Fund of $10 Million
1. Replenish $1 million every year
2. Rails Program: $1 million in grants of $25,000, $50,000 to projects that help foster and enable startups and entrepreneurship in Sacramento
2. City will invest $1 million in local companies $100,000, $150,000, $200,000
3. Strategic investments – Invest in global accelerator “500 Startups”
You can hear more details about all of this in the audio clip below.
Sacramento Mayor Kevin Johnson Announces Innovation Growth Fund
The announcement was also covered by local news media in a KCRA news segment that aired Saturday afternoon.
