Item 7 - New London Ventures programme update

Summary    

This cover report sets out the progress made in the delivery of the new London Ventures programme following the contract award in August 2016. 
The contract requests the following key documents to be produced within the first three months for CAB’s approval:
1.    London Ventures Programme Strategy
2.    London Ventures Delivery Plan
3.    The London Ventures Marketing Plan
4.    London Ventures current portfolio assessment report

The London Ventures Programme Strategy and Current Portfolio Assessment documents have been produced and are included for approval by the Board. 
The final two documents are expected to be ready for approval within the first three months, this is before the December CAB meeting, CAB may wish for the remaining reports to be approved using the urgency procedure as set out in London Councils’ Standing Orders. 

Recommendations    

It is recommended that the Capital Ambition Board:

a)    Approves the London Ventures Programme Strategy 
b)    Approves London Ventures current portfolio assessment report, specifically –
i.    Approve the proposed packages of support recommended  for the current portfolio;
ii.    Approve the commencement of commercial deal re-negotiations, for the current portfolio based upon the proposed support packages; and 
iii.    Approve the proposed package(s) of support for future ventures.
c)    Agrees to using the urgency procedure to approve the remaining London Ventures documents.

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