Forever Investment in St Paul

by Mike Rohlfsen | Apr 04, 2013
| 1 Comment

Summary:

The intent is to use the 1 million dollars of The Fund, along with the talents and experience of a Board of Directors consisting of volunteers from the Minnesota Community Foundation (or perhaps others, such as small business leaders in St. Paul) and existing office infrastructure in St Paul to create a long term, self-funding, center of entrepreneurship and business development. Find a place well located but under-utilized in St. Paul to house this entity. The money for this will be provided by The Fund but at a presumably subsidized rent from the city, as is often done in cities where this type of idea has traction. Use the funds to finance the right business opportunities deemed most viable by The Board. This facility then becomes a center that attracts successful entrepreneurs where ideas, connections, experiences, etc are shared. Funded businesses must domicile in St. Paul, there must be a job committment to the business in St. Paul, and The Fund will take some percentage of equity ownership in the businesses chosen, negotiatied case by case. Any capital gains in those investments are then plowed back into The Fund, allowing the pool of investment to grow and create an ongoing annuity of opportunities that do not stop at the initial amount of 1 million dollars. If done correctly, this becomes a dynamic mechanism that creates a business legacy much larger than the original investment and will be of sigfinificant economic and social benefit to the city.

About You

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About You

First Name

Mike

Last Name

Rohlfsen

City

Edina

County

Hennepin

Country

United States, MN

Website (if you have one)

Names of others who helped contribute to my idea

Rob Rebischke

How did you hear about the Forever Saint Paul Challenge?

My Father Jerry Rohlfsen

About Your Organization (if applicable)

Organization Name (if applicable)

Rohlfsen Family Foundation

Organization Website

Organization Phone

Organization Address

City

Plymouth

Organization Country

United States, MN

Your idea

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Title of your idea

Forever Investment in St Paul

Give us the highlights of your idea for making Saint Paul great (2,000 characters maximum or approx. 250 words)

The intent is to use the 1 million dollars of The Fund, along with the talents and experience of a Board of Directors consisting of volunteers from the Minnesota Community Foundation (or perhaps others, such as small business leaders in St. Paul) and existing office infrastructure in St Paul to create a long term, self-funding, center of entrepreneurship and business development. Find a place well located but under-utilized in St. Paul to house this entity. The money for this will be provided by The Fund but at a presumably subsidized rent from the city, as is often done in cities where this type of idea has traction. Use the funds to finance the right business opportunities deemed most viable by The Board. This facility then becomes a center that attracts successful entrepreneurs where ideas, connections, experiences, etc are shared. Funded businesses must domicile in St. Paul, there must be a job committment to the business in St. Paul, and The Fund will take some percentage of equity ownership in the businesses chosen, negotiatied case by case. Any capital gains in those investments are then plowed back into The Fund, allowing the pool of investment to grow and create an ongoing annuity of opportunities that do not stop at the initial amount of 1 million dollars. If done correctly, this becomes a dynamic mechanism that creates a business legacy much larger than the original investment and will be of sigfinificant economic and social benefit to the city.

Website address (if applicable)

Innovation

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What makes your idea different or unexpected? (4000 characters maximum or approx. 500 words)

This is not a one-time deal. This is not a static idea. This is a long-term mechanism that begets more benefit to the city. It will attract talent, economic value, jobs, tax-paying companies, and credibility for the city as a place where the right format is in place to create successful business. This 1 million dollars is truly a seed, not just a piece of fruit.

Impact

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This Entry is about (Issues)

How will your idea make a difference in Saint Paul? (4000 characters maximum or approx. 500 words)

Jobs, taxes, talent, putting under-utilized office assets to work. Who knows, the next big idea and company may be hatched here. With no mechanism in place,you will never know. We have the talent in Minnesota to do this.

Sustainability

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Why do you think people will recognize or remember your idea after it comes to life? How might it inspire others to do something similar in their community? (4000 characters maximum or approx. 500 words)

I think my narrative to this point speaks for itself. The entire idea is to plant a financial seed that goes well beyone the original amount.

jandayangacho2013 jandayangacho2013 said: Investment would be high and what is important is we are dealing with a lot of people. - Aldo Disorbo about this Competition Entry. - 2527 days ago read more >

Mike Rohlfsen updated this Competition Entry. - 2822 days ago

Mike Rohlfsen submitted this idea. - 2822 days ago