Everybody knows that you've gotta spend money to make money, and no one knows that better than people who already have a ton of it. Enter rapper Lupe Fiasco and Google Executive Di-Ann Eisnor, who have teamed up on a million dollar search for a savvy entrepreneur to focus on making improvements in poverty-stricken and marginalized neighborhoods.
Fast Company is reporting that the Neighborhood Start Fund will kick off in Brownsville, New York on Nov. 13 and will function on a two pronged plan: 1) search for ideas in overlooked neighborhoods and 2) redirect profits from successful startups back into the community.
An official statement regarding the project breaks it down further:
Eisnor, Fiasco, and other judges will hear business ideas from would-be Brownsville entrepreneurs. Finalists in the competition (Brownsville residents can apply here) will compete for $5,000 to turn ideas into prototypes, and will also have access to mentorship and free technology services.”
By next year Fiasco and Eisnor hope to develop the project into a $100 million dollar company, and to expand into dozens of neighborhoods.
Photos by Getty Images/Don Arnold