Richardson, Texas – The City of Richardson joined representatives from Startup Runway in a ribbon cutting ceremony this morning celebrating the beginning of a strategic partnership to enhance international economic ties and foster continued innovation within The IQ® business community and throughout the city. The partnership includes several key elements designed to support Startup Runway’s mission of promoting the growth of India-based and other international businesses it represents.

“Foreign startups bring innovative ideas, diverse talent, and new technologies, driving competition and fostering growth,” said Richardson Mayor Bob Dubey. “They are also attractive partners for our local business ecosystem and have the potential to make our community a launch point and hub for proven industries looking to establish roots in Texas and the United States.”

Richardson has been officially designated the "International Business Capital of North Texas" by the Texas State Legislature, in recognition of the community's substantial presence of international business operations and employees. Building on the City's reputation for creating global opportunities, this new partnership will feature biannual trips to India by at least one member of the economic development team. These visits will foster relationships and advocate for Richardson's interests with business and government leaders, ultimately attracting startup companies to establish permanent locations within Richardson.

“Startup Runway is at the forefront of innovation, creating an ecosystem that unites academia, international companies, enterprises, and capital,” said Startup Runway CEO Mahesh Nandyala. “By bridging these forces, we help cities transform into thriving innovation hubs, fostering sustainable growth and generating new jobs. Our mission is to drive progress, shape the future, and build vibrant communities through the power of collaboration and cutting-edge ideas."

The partnership directly aligns with The IQ®HQ’s mission of facilitating collaboration and networking between Richardson’s innovation, entrepreneur, and startup communities.

“We’re breaking new ground in Richardson with this agreement by opening a direct pipeline that will attract international business to Richardson and The IQ®,” said Richardson City Manager Don Magner. “Direct foreign investment from these startups not only creates jobs and stimulates the local economy but also builds our global business connections, strengthening our position as a hub of innovation and opportunity.”

The City of Richardson and the University of Texas at Dallas have partnered to help develop the Richardson Innovation Quarter, or The IQ®, as a hub for innovation, technology, and entrepreneurship. It serves as a central point for businesses, startups, and research institutions to collaborate and drive economic growth and technological advancements by offering a range of resources, including state-of-the-art facilities, coworking spaces, and access to a network of professionals and investors.

The City of Richardson’s Economic Development Department encourages all businesses considering expansion or relocation to submit applications for various incentives. These incentives include building modernization grants, building and tenant improvement grants, permit fee waivers, and job creation grants, among other economic development tools designed to attract investment and promote community revitalization. Incentives are available to entities committing to significant capital investments, noteworthy job retention or creation, and/or long-term lease agreements. Each application is evaluated on its own merits to ensure it aligns with Richardson’s goals of fostering economic growth and enhancing the community’s competitiveness.

www.RichardsonEconomicDevelopment.com

About the Richardson Innovation Quarter

The Richardson Innovation Quarter, known simply as the Richardson IQ® or The IQ®, is a 1,200-acre, amenity-rich, urban tech hub in the heart of the booming DFW Metroplex. Its legacy of serving as a home to technology-focused industries and entrepreneurship stretches back to the early days of the Space Race in the 1950s. Today, The IQ® continues to evolve and boasts innovators across a wide range of industries, including advanced additive manufacturing, biotechnology, finance, software development and R&D, as well as hosting incubators for entrepreneurial start-ups. With more than 1,100 businesses and 20,000 workers, The IQ® spurs the creativity and collaboration that drive innovation and growth, like that between the City and The University of Texas at Dallas, which jointly share The IQ® Headquarters. The IQ® acts as a living laboratory for big ideas and groundbreaking technology.

RichardsonIQ.com

Startup Runway accelerates not only startups but also entire cities, laying the foundation for a prosperous and forward-looking future. Their commitment to revenue, growth, and innovation makes us a key driver in transforming cities into vibrant centers of opportunity and progress.

thestartuprunway.com