It might be a coincidence that the first day of SXSW Interactive saw a big announcement about Austin's Innovation District, but it probably isn't.
A new nonprofit, Capital CIty Innovation, has been formed to oversee development of the district, the Austin American-Statesman reports.
City and state leaders have designated the area, a stretch on the eastern edge of downtown, along I-35, for the facilitation of private enterprise that complements the nearby University of Texas Dell Medical School and teaching hospital, currently under construction.
The major players in the new medical district—Central Health, the Seton Healthcare Family, and the medical school, will provide the initial funding for Capital City Innovation, according to the Statesman. All three will have members on its board, to comprise mostly public-sector members. Austin Mayor Steve Adler and Travis County Judge Sarah Eckhardt will be advisory members.
The Statesman story goes on to provide an excellent, detailed summary of the district's proposed roles and benefits. Whatever happens, there's sure to be plenty of disruption, interactions, and relationship-building ahead.