Just one caution - when I was helping to set up a local user group, a lot or companies wanted a guarantee that no poaching would occur, and tried to make that a condition of their participation.

Of course, we couldn't do that, but at the same time, we wouldn't make it a prominent part of the user group's mission either.

So, great initiative, but if you're gonna bring this into your community, just consider the effects (if any) on corporate sponsorship.