City of Atlanta: 60th Mayoral Candidate Ask To Launch and Fund A Sustainable Diverse, Inclusive and Equitable Innovation, Entrepreneurship & Investment Ecosystem Building Initiative
$1,000,000 winners at 2017 43North
On December 5th, 2017, Atlanta will vote in a runoff between Keisha Lance Bottoms and Mary Norwood to elect its 60th Mayor. As Atlanta continues to rise like the Phoenix on pundits’ shortlist for “opportunities” like Amazon HQ2, it is critically important for our next Mayor to be intentional about funding the scale of what is poised to be the most authentically diverse, inclusive and equitable innovation (technology), entrepreneurship (startup) and investment (new wealth creation) ecosystem on the planet, particularly against the reality of our rising income inequality, poverty and a racial wealth gap that is predicted to be a big fat zero for the average African American family by 2053.
Today, the fastest way to disrupt income inequality, poverty and the wealth gap is to prepare and get a high demand job in tech, start a high growth well funded technology startup company and have the opportunity to become an early investor in these types of alternative investment opportunities. For the first time in history, multi-generational wealth can be created with no reliance on pre-existing multi-generational wealth. Based on our experience and vantage point, this is the way forward.
My ask.
To this end, here is my definitive ask for the 60th Mayor of Atlanta.
1. Council on Inclusive Innovation, Entrepreneurship & Investment Ecosystem Building
Atlanta’s next mayor within the first 30 days will announce, establish and fund a “Council” of authentically diverse, inclusive and equitable innovators, entrepreneurs, investors and ecosystem builders for the purposes of ensuring that Atlanta is a world leader in inclusive innovation (technology), entrepreneurship (small business) and investment (wealth creation) for all. I volunteer to chair and convene the Council on a quarterly basis as we collectively make recommendations to the Chief of Staff, Deputy Chief of Staff and Mayor on definitive research, initiatives, programs, outreach and solutions. The Mayor will fund this council with an initial $2 million to fund a dedicated team to focus specifically on this year round.
2. Innovative Workforce Development and Entrepreneurship Program
Atlanta’s next mayor will fund CodeStart, a coding (software development), entrepreneurship (startup business) and soft skills (career readiness, agile, financial literacy) workforce development program successfully piloted with The City of Atlanta with $2 million/year. Workforce youth, graduating college students and existing Atlanta Public School teachers will be trained in employable computing, agile and entrepreneurship skills. In addition, the next mayor will authorize the allocation of an in-town city property that can be developed to house and train these students. Students and startups will live and work in the property, agree to pay rent and pay it forward once they obtain gainful employment in the innovation economy.
3. World’s Largest Startup Pitch Competition
Modeled after 43North, Buffalo, NY’s annual $5 million dollar startup pitch competition (currently the largest in the world), Atlanta’s next mayor will commit to establish, fund and sustain an annual startup pitch competition and conference with $7.5 million dollars yearly. Additionally, the Mayor’s Office will commit to work with its inclusive innovation, entrepreneurship and investment council and private sector to fund the remaining $7.5 million* required. For example, Buffalo’s 43 North receives funding from The New York Power Authority.
A company that has specific, proven expertise in managing large scale startup pitch competitions, venture investing, organizing tech conferences and related programming will be hired to manage this initiative on behalf of the city as well as the inclusive innovation, entrepreneurship and investment council. Companies that win the various cash investments will be required to move to Atlanta for a period of 2 years and contribute a small percentage of their equity in warrants to an entity for the purposes of funding ongoing K-12 computer science, coding, technical sales and entrepreneurship training, internships and apprenticeships in Atlanta Public Schools.
*$45 million, or $15 million is requested for 3 years to fund $10 million in seed investment prizes, including $5 million per year for end-to-end execution of the annual event, including event management, logistics, production, international marketing, local outreach, APS K-12 training programs and subsidized incentives for the winners to purchase and live in renovated blighted residential houses to help facilitate relocation and promotion of Atlanta. A full pro-forma of the use of proceeds will be agreed upon by the inclusive innovation, entrepreneurship and investment council. The annual event will also generate revenues from startup applications, event ticket sales and corporate sponsorships.
The urgency of now.
The Atlanta Regional Commission (ARC) is updating its regional competitiveness strategy, and renaming it CATLYST. As part of this update, ARC formed a committee to determine the Atlanta region’s future and to help determine and address the most critical regional challenges for the next five years. We’re socializing a comprehensive approach which includes four primary constructs that can be reviewed in full here. They are:
- Atlanta must be employed and engaged.
- Atlanta must be prepared and productive.
- Atlanta must be healthy and housed.
- Atlanta must be connected and resilient.
I sincerely believe that this proposed ask is a signifiant part of any comprehensive path that will produce sustainable scale in outcome for the region.
Dr. Martin Luther King, Jr. talked about the fierce urgency of now. His thesis still remains sound.
Time is of the essence and the time to make this commitment is now.
What say ye?
As proud as we are of Atlanta’s crown jewel, if not the region’s and the State’s, this election isn’t just about the airport or city contracts for a few citizens. It isn’t just about eliminating alleged corruption at City Hall. It’s not just about the Atlanta BeltLine and its acceleration of re-gentrification. It’s not just about adding more biking routes, walking trails and our overall approach to transportation. It’s not just about whether you can smoke weed and not go to jail in the city limits. Yes, all important issues - some more than others; but, none of these things really matter if the everyday person in Atlanta - no matter their social, economic, political background or alliance - is not able to receive quality modern day training, education, housing and access to viable economic opportunity.
To be honest, this election is about our city’s economic future.
This election is about our future and how Atlanta will be positioned as a world leader in technology, entrepreneurship and new wealth creation for all. This election is about how we prepare students at Atlanta Public Schools for opportunities in higher education and an upwardly mobile career in the workforce of today and the unfathomed workforce of tomorrow. This election is about how we decrease the exodus of our best talent to cities like San Francisco, New York, Boston, Seattle and Austin. This election is about how we attract the world’s leading startup and high growth companies to build their businesses inside the City of Atlanta. This election is about new wealth creation for Atlanta and all of its citizens.
Although not a panacea or silver bullet, your commitment to fund this inclusive innovation, entrepreneurship and investment initiative is a definitive commitment to the alleviation of income inequality and poverty in the City of Atlanta and beyond. This is the Atlanta way.
Keisha, Mary, please socialize this ask amongst your respective policy and campaign teams and let me know if you will commit to this proposal if elected the 60th Mayor of Atlanta.
Please advise as Atlanta voters want to know where you stand.
Thank you in advance for your time and consideration of this proposal.