03 14 2017 board meeting notes

i-GATE Development Corporation Board Meeting for Fiscal Year: 2017 (July 1, 2016-June 30, 2017) Tuesday, March 14, 2017 11:30am-1:00pm Meeting Called to Order by Chairman Buck Koonce At 11:45am In attendance: 1. Mayor John Marchand representing Livermore 2. Buck Koonce (Board Chair) representing LLNL 3. Vice Mayor Jerry Pentin (on behalf of Mayor Jerry Thorne) representing Pleasanton 4. Stephanie Beasly representing Sandia 5. Sblend Sblendorio (Board Counsel) 6. Vice Mayor Newell Arnerich representing Danville Not in attendance: 1. Mayor David Haubert (Secretary) Representing Dublin Citizens Forum

None Minutes/Financials:

Motion to accept January 26th, 2016 Meeting Minutes: Mayor John Marchand 2nd: Vice Mayor Jerry Pentin Vote: Unanimous Motion to accept i-GATE Development Corporation Financials: Mayor John Marchand 2nd: Vice Mayor Newell Arnerich Vote: Unanimous Matters for Consideration:

Annual election of officers Mayor John Marchand nominated Buck Koonce for Board Chair 2nd: Vice Mayor Newell Arnerich Vote: Unanimous Mayor John Marchand nominated Mayor David Haubert for Secretary 2nd: Vice Mayor Newell Arnerich Vote: Unanimous

Executive Director’s report Brandon Cardwell delivered an update on current organizational operations and member companies. Discussion of the role of i-GATE in an evolving ecosystem of startup support, particularly centered around the national labs as anchors of innovation.

LVOC update Buck Koonce and Stephanie Beasly provided an update on current status of LVOC, including the new Additive Manufacturing Laboratory on the LLNL campus and the CREATE facility.

Discussion led to topic of taking equity positions in companies. Strong interest from the board in identifying ways to take equity positions in companies, noting the importance of identifying an appropriate structure for decision making and transactions. The board asked for additional information to be brought back at a future meeting.

Discussion and direction on facility alternatives for i-GATE Brandon Cardwell identified that i-GATE’s current operating model is nearly sustainable, but that its impact is limited by the size of the facility. He pointed out that i-GATE needs to first define a vision for its role in the broader Tri-Valley ecosystem and develop a facility model to achieve those goals. Specific questions pertained to whether or not to expand, and if expansion is preferred, should it be in the form of one larger facility or a network of facilities across the region. Mayor Marchand suggested that multiple facilities would limit the ability of people working there to collide with each other.

Brandon Cardwell noted that the previous facility at Longard Road, while unsustainable financially, led to the greatest successes among i-GATE alumni companies. He suggested this was at least in part due to the more technology-centric nature of the companies that were attracted to the space. In describing the opportunity to acquire more lab space, Cardwell also identified the need to differentiate i-GATE’s value proposition among other regional startup support organizations, emphasizing i-GATE’s relationship with the labs and the importance of making a real difference for member companies.

Discussion of potential cost increases, as well as competitive landscape. Brandon Cardwell predicted that it will take two years to fill the new facility at 1911 Second Street. Vice Mayor Arnerich stated that Danville remains committed to the organization, but they can’t contribute more funding. Cardwell identified that the City of Livermore is willing to subsidize startup costs for the first three years of the facility, but that this is an organizational decision that requires everyone’s buy-in. Cardwell also asked the board for their perspective on continuing to emphasize i-GATE’s relationship with the national labs as a core value proposition, and i-GATE’s ideal relationship to the open campus.

Agreement from the board that the labs remain a core part of the organization’s value proposition, and the organization should move forward to pursue the new space at 1911 Second Street, but a lease should be reviewed and approved by the board before signed.