Boosting small business and entrepreneurship with private sector expertise and public sector reach.

The MFLA Economic Development Fund provides resources for business and economic development projects that have an immediate and/or direct impact on business development, attract new businesses, and provide support to retain current businesses and industry in the City.

An important project of the Economic Development Fund is the EY-Entrepreneur in Residence (EIR) program. This program deploys expertise into the entrepreneurial community with the goal of designing practical interventions that stimulate entrepreneurialism and business development in the City.

The Entrepreneurs in Residence are experts in their field who take on different aspects of business development and entrepreneurship over the course of one year. EIRs partner with the City, academic institutions, and the private sector to identify best practices and policies that would support and grow the entrepreneurial community in Los Angeles. Past EIRs have focused on the following issues:

• Revitalizing local manufacturing
• Identifying capital needs in LA’s start-up ecosystem
• Improving and streamlining City processes for the restaurant industry
• Increasing gender diversity in science and technology industries
• Preparing for increased automation in the workplace
• Tackling the diversity gap in below-the-line jobs in the entertainment industry