MMDC & U3A Launch Live Local and Buy Local Programs in Memphis
U3 Advisors, working with the Memphis Medical District Collaborative, has launched two programs in the Memphis Medical District to attract more employees to the district and target more institutional spend at local businesses.
Live Local 901, a housing incentive program for employees of 5 anchor institutions in the Medical District, was launched in October of 2016. The program offers up to $15,000 to purchase a home within the Medical District and up to $2,000 to rent a home within the neighborhood. The $500,000 pilot program is funded collectively by the participating anchor institutions and the Hyde Family Foundations and was recently featured on the front page of the Memphis Commercial Appeal.
As part of an effort to increase institutional spend within Memphis, U3 Advisors in partnership with Memphis Medical District Collaborative and EpiCenter recently launched Operation Opportunity Challenge a business plan competition to encourage Memphis-based innovators, entrepreneurs, and existing businesses to help solve operational pain points within the supply chains of the institutions, and use the experience to launch, scale, or expand their businesses. The competition will provide winners with $20,000 in seed capital and technical assistance to help them build products or services that will address the "pain points” identified by the anchor institutions. The competition was recently covered in High Ground News.