Big changes are coming to the North Texas Enterprise Center as Frisco hires a private company to take over the business incubator.
Launch Pad City will run the 9-year-old incubator as a for-profit business, the Dallas Morning News reported. Frisco-based Launch Pad will be paid up to $600,000 in a 12-month contract to operate the facility.
Previously, nonprofit NTEC ran the incubator in partnership with the Frisco Economic Development Corp.
Startups rent space in the building and get help from mentors as they get their business off the ground.
“Our mission was to spearhead and get the ball rolling,” Jaime Ronderos, chair of NTEC’s board of directors, told the Morning News. “We’ve met that mission, and there’s no need for us to be in the way when private industry can take over.”
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