The gist
Program officials Director of Economic Development Annel Guadalupe and Managing Director Mat Yelvington shared the business accelerator's progress and what’s to come this year at a Feb. 18 City Council meeting.
Launched last April in partnership with regional business hub The Cannon, Fulshear Fast Track aims to bring resources to support and grow small businesses in Fulshear. The program, created and funded by the city’s Economic Development Corporations, costs $200,000 annually.
By the numbers
The business hub has met or exceeded most of its goals, including membership growth, number of events and new business start-ups in the area, according to agenda documents. Additionally, the initiative is on its way to meeting other goals such as financial sponsors and new job creation.
“In less than a year, Fulshear Fast Track has made great strides in fostering a thriving entrepreneurship community,” Yelvington said. “With your continued support, we are excited to build on this momentum in 2025.”
Council member Jason Knape said he was concerned about the return on investment rate of the program. Knape said he attended an event where he was able to meet with program participants and shared additional resources that were available.
“We can be utilizing that [sales tax] for other things like investing in our parks—to the tune of $200,000 per year—as opposed to investing in these start-ups,” he said. “I don’t necessarily disagree that this program isn't a benefit; I’m more challenged with the fact of the cost versus the benefit that comes with it.”
However, council member Joel Patterson, who serves as City Council liaison for the EDC, said the council was given the opportunity to veto the program on two occasions, including project and budget approval.
“Fulshear is big enough to spend $200,000 a year on parks and $200,000 on an entrepreneurship program—we have that kind of money, we're just not spending it,” he said. “I think it's very short-sided to think that this program is not offering something that is bigger than what the city of Katy is offering and the surrounding area.”
Going forward
In 2025, Yelvington said the business hub aims to:
- Increase awareness of mentorship opportunities
- Update its online platform to be more accessible
- Offer more evening and weekend event times, including an entrepreneur boot camp and various roundtable discussions
- Create investor groups
- Partner with local school districts to bring resources to students
