Make 1 Million 1 Billion

by Brendan Kramp | Mar 30, 2013
| 3 Comments

Summary:

To make a real and lasting impact, I would find a way to turn $1 million into $1 billion. Take the 1 million and divide it into 20 investments of $50K each that small or start up businesses can apply to win and grow their businesses. The businesses would be required to show they would create at least 5 jobs in the next 3 years, and also address an issue of environmental sustainability, economic development, community transformation, or another issue important to Saint Paul. Convene a voluntary panel of the most successful private equity investors, venture capitalists, community leaders, city advocates, and innovation experts to evaluate the business plan ideas, pick those most likely to succeed, suggest the mentoring, advice, market access, and talent that will be needed, and award the 20 $50K investments based on those start ups and small businesses with the most potential to grow and create positive change in St. Paul while providing jobs and further tax revenues. If even 2 of the 20 ideas are 'hits' -- and the chosen businesses grow and thrive -- the revenues, energy, vitality, press, and positive impact from their work will return far more than $1 million in value to the city of St. Paul. Even better, those businesses that benefit most will agree to replenish the 'Forever Saint Paul' challenge pot, thus creating an ongoing fund for investment and interest in other forward-thinking, innovative, and transformational businesses. This will rejuvenate downtown St. Paul, bring much needed energy and optimism to the business landscape, and create a real community of innovators based in the capital. That is St. Paul, and that is forever.

About You

read more ↓↑ hide↑ hide

About You

First Name

Brendan

Last Name

Kramp

City

Saint Paul

County

Ramsey

Country

United States, MN

Website (if you have one)

Names of others who helped contribute to my idea

How did you hear about the Forever Saint Paul Challenge?

In the newspapers and Facebook

About Your Organization (if applicable)

Organization Name (if applicable)

N/A

Organization Website

Organization Phone

Organization Address

City

Organization Country

United States

Your idea

read more↑ hide↑ hide

Title of your idea

Make 1 Million 1 Billion

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

To make a real and lasting impact, I would find a way to turn $1 million into $1 billion. Take the 1 million and divide it into 20 investments of $50K each that small or start up businesses can apply to win and grow their businesses. The businesses would be required to show they would create at least 5 jobs in the next 3 years, and also address an issue of environmental sustainability, economic development, community transformation, or another issue important to Saint Paul. Convene a voluntary panel of the most successful private equity investors, venture capitalists, community leaders, city advocates, and innovation experts to evaluate the business plan ideas, pick those most likely to succeed, suggest the mentoring, advice, market access, and talent that will be needed, and award the 20 $50K investments based on those start ups and small businesses with the most potential to grow and create positive change in St. Paul while providing jobs and further tax revenues. If even 2 of the 20 ideas are 'hits' -- and the chosen businesses grow and thrive -- the revenues, energy, vitality, press, and positive impact from their work will return far more than $1 million in value to the city of St. Paul. Even better, those businesses that benefit most will agree to replenish the 'Forever Saint Paul' challenge pot, thus creating an ongoing fund for investment and interest in other forward-thinking, innovative, and transformational businesses. This will rejuvenate downtown St. Paul, bring much needed energy and optimism to the business landscape, and create a real community of innovators based in the capital. That is St. Paul, and that is forever.

Website address (if applicable)

Innovation

read more↑ hide↑ hide

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

This idea is unique because it provides a way of turning the $1 million into $1 billion through the successful selection and investment in high growth, innovative, socially-minded companies. It also recognizes that our greatest asset is not just money, but harnessing the talented of socially-minded and concerned talented business men and women to make a real, long-term, lasting impact on St Paul beyond this challenge. Taken together, the expertise, investment, and mentorship have a real chance of creating some of tomorrow's change-making companies, and thus creating a healthy and vibrant future for St. Paul.

Impact

read more↑ hide↑ hide

This Entry is about (Issues)

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

This idea will impact several aspects of St. paul. First, it will create funds for several small or start-up businesses to have a viable future in St. Paul. This will then create more jobs, fill up empty spaces in St. Paul's downtown neighborhoods, create more tax revenue for the city, and start bringing people down on a daily basis to create a thriving atmosphere in the city. The businesses themselves, chosen for proven and scalable solutions to some of the city's biggest problems, will bring a social entrepreneur mindset to addressing issues of education, poverty, community development, environmental sustainability, and job skill development. Best of all--St. Paul will become known as one of the USA's cities of tomorrow, acting as a model for the country.

Sustainability

read more↑ hide↑ hide

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)

If this idea is implemented, it will create 20 new businesses that have a much higher chance of success due to access to funds, expert-level mentorship, and the free press and publicity that comes with the awards. Better still, the businesses chosen will have to meet criteria that go beyond simple profits and growth, but measurable and achievable impacts on specifically chosen community issues that will improve the city--e.g. education gap, poverty alleviation, affordable healthcare, etc. It will last and be recognized because the successful companies will replenish the Forever St. Paul challenge grant, and encourage other social entrepreneurs and business owners to become a part of the future of St. Paul in a real, dynamic, and proactive manner.

Brendan Kramp said: Thanks for the comments--I hadn't realized these were still posted. Good to have the energy of thinking of more ideas going forward! about this Competition Entry. - 2547 days ago read more >
apolinario sasam said: With Warren Buffet's new offer with the NCAA bracket contest, this might be the thing to get into. - Adam LaFavre about this Competition Entry. - 2548 days ago read more >
Mel Pomadas said: If we could give some importance to what would be the consequences of our actions we could really surpass that stage. - Marla Ahlgrimm about this Competition Entry. - 2548 days ago read more >

Brendan Kramp updated this Competition Entry. - 2849 days ago

Brendan Kramp submitted this idea. - 2849 days ago