HomeMy WebLinkAbout1T - PresentationPalm Springs City Council Update
October 26, 2023
CVEP & Palm Springs iHub
Item 1T - Page 1
CVEP
•Reliable, Efficient, and Accurate Service for Government Partners
•Geographic Information Systems and Data Analysis
•Business Services and Small Business Workshops
•Riverside County Innovation Month
•Disaster Preparedness
•Economic Summit
•Annual Support
Palm Springs iHub
•Morning Insights
•PSiHub Portfolio Companies
•Supplemental Funding
•Public Relations & Media
Item 1T - Page 2
GIS and Data Analysis –
Supporting Government Projects, Planning, and Policy
Projects for the City of Palm Springs and/or the Coachella Valley
•labor force data, commuting patterns, jobs, and developing a housing/job ratio for the city
•provided custom maps of average family size and households with 7+ people
•age demographics to support need for housing for younger families and residents, not just “Over
55” developments
•data on top employers for the city, and updates to annual demographic reports
•Provided extensive demographic reports to help quantify the reach of poverty in the Coachella
Valley for Eduardo Garcia’s District 36 Poverty and Inequality Project.
For Business, Nonprofits, and Government, CVEP provided
•180 custom demographics reports
•Over 400 hours of data mining and analysis to fulfill requests
Item 1T - Page 3
GIS Projects
•Published 26 new Data Digests for the public (cvep.com/data-d igest)
May 23, 2023: Employment Centers of the Coachella Valley
https://cvep.com/employment-centers-of-the-coachella-valley/
March 7, 2023: Employment Inflows and Outflows in Coachella Valley Cities
https://cvep.com/employment-inflows-and-outflows-in-coachella-valley-
cities/
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Business Services Activities
•Lunch & Learn – The Power of Capital
•Money Matters – Cash Flow
•Digital Marketing
In partnership with the Women’s Business Momentum Center:
•Monthly Momentum (new monthly series began September 2023)
In development for 2024 launch:
•Taco Tuesdays (emphasis on finance and funding)
•Insights at Night (Rotating locations: professional networking for entrepreneurs)
Item 1T - Page 5
CVEP Distributed 213,350 sandbags in
advance of Tropical Storm Hilary
37,500 sandbags donated to the City of Palm Springs
Benefitting over 3,700 Palm Springs residents/businesses
Palm Springs Fire picked up 10,000 bags on 8-18-23 and 27,500 bags on
8-19-23.
Item 1T - Page 6
April 2023: 6th Annual Riverside County
Innovation Month
•CVEP: Innovation Month Central Committee; Fast Pitch Finale Committee
•Meet the Entrepreneurs events in Palm Springs and Palm Desert
•Coachella Valley Fast Pitch Competition – Four local startups competed for prizes.
•Winner: Palm Springs iHub Client Company, Moducan Corporation
•Coachella Valley Student Pitch Competition – Four CSUSB-PDC entrepreneurship
students competed.
•These events earn excellent media coverage, particularly for the iHub programs in
Palm Springs and Palm Desert.
Item 1T - Page 7
Economic Summit
Item 1T - Page 8
Consistent Annual Support helps to offset some of the necessary costs
of doing business, which makes operating the Palm Springs iHub
possible:
•Accounting
•Annual Audit
•Grant Writing
•Compliance
•Human Resources
•Office Supplies, Equipment, and Software
Annual Support
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New Event Series: Morning Insights
•Over 200 attendees since February launch
o 20% of attendees are new to the Coachella Valley
o 25% of attendees are considering starting a business
•Guest speakers cover a wide range of topics:
o March - Population change
o April - Local news
o May - The State of Entrepreneurship
o June - Vacation rentals
o July - Running a great business
o August - Cannabis industry
o September - Affordable housing
o October - dark for CVEP Economic Report & CA Economic Summit
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Palm Springs iHub Portfolio Company Sectors
•Renewable Energy (5)
•Hardware, Hard Goods, and Soft Goods (6)
•Healthcare Innovation (2)
•Software [Education, Lifestyle, Marketing] (1)
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Palm Springs iHub Program
•14 Companies in Program
•48 Program Graduate Companies
•206 direct jobs created or retained
•808 indirect jobs created or retained
79% of PS iHub Portfolio Companies are woman-led,
veteran -led, or minority-led.
Source: Economic Policy Institute, Employment Multipliers for the U.S. EconomyItem 1T - Page 12
Applications Submitted
•California Wellness Foundation
- $150,000 (LOI)
•Bighorn Cares - $5,240 for
technology needs
•Kaiser Permanente - $10,000
business services/$14,500 iHub
•TechHubs program consortium
- $500,000 strategy
development
Supplemental Program Funding
Received
•PNC Bank - $7,500 business services
•SoCal Gas - $5,000 business services
•Wells Fargo - $25,000 business services &
iHub
•Agua Caliente - $5,000 sponsorship of
Morning Insights
Item 1T - Page 13
Public Relations, News, and Other Media
•60 interviews, quotes, and other mentions in print, television, and digital
media, including The Desert Sun, KESQ, NBC Palm Springs, Uken Report,
CV Independent, the Public Record, Palm Springs Life, and more.
•Over 1,000,000 traditional media impressions.
•Social media reach across Instagram, LinkedIn, Facebook, Twitter, and
YouTube:
•86,000 organic post impressions
•110,000 page and profile impressions
Item 1T - Page 14
Joe Wallace
CEO and Chief Innovation Officer
Joe.wallace@cvep.com
812.431.3877
Thank you.
Item 1T - Page 15