March 18, 2025 Bloomington Port Authority Meeting

Tuesday, March 18, 2025

Approval of February 18, 2025, Port Authority meeting minutes

Request for budget adjustments for the Hatch Bloomington program

Areas of Interest (4)

Port Authority considers funding boost for 'Hatch Bloomington' small business pitch competition.
City of Bloomington pivots business support strategy from mobile food trucks to permanent brick-and-mortar establishments.
Questions arise regarding the vetting process and financial oversight of city-funded startup competitions.
Hatch Bloomington aims to mirror the $13 million economic impact reported by Hatch Detroit.

Votes (1)

Approve the Port Authority meeting minutes from February 18, 2025

Passed4-0

Moved by Peterson · Seconded by Nelson

Notable Quotes (2)

Most small businesses fail after three years... Hatch Detroit has been able to kind of break that cycle because they've built out this huge ecosystem of small business programing.
— Sean Lundy

Hatch Bloomington ProgramJustification for program support services

If you're betting on the jockey, the horse might not make it but the jockey is going to find another horse.
— Sean Lundy

Selection CriteriaResponding to questions about evaluating founders versus ideas

People (5)

Sean LundySpecial Projects and Initiatives Manager

Lead on the Hatch Bloomington pitch competition

2 quotes

“The only stipulation being that you're a US citizen and that you commit to building your business here in Bloomington.”

Eligibility for Hatch Bloomington

“We're trying to thread the needle on both sides like ensure that the business proposal has the sound foundation and that the individual behind that or the individuals championing that are committed.”

Evaluating entrepreneurs

Mary KayPort Authority Accountant

Explained budget adjustment request of $300,000

PetersonCommissioner

Voiced concerns about the vetting of business proposals

HuntCommissioner

Inquired about the selection process and founder quality

NelsonCouncil Member

Participated as a judge for the Hatch Bloomington program

Places Mentioned

Bloomington City Council ChambersDetroitSchneider Theater

Events & Meetings (1)

March 18, 2025: Port Authority Meeting at Bloomington City Council Chambers

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