Ever wonder what the next big idea might be worth? Untold millions of dollars if you’re talking about commercial products. But what about ideas focused on the public good?
The Rhode Island Foundation last week took a step toward defining at least an initial payoff for those willing and deemed able to take on the challenge of improving the lives of fellow Ocean State residents.
Spurred by philanthropists Letitia and John Carter, the foundation’s Innovation Fellowships program will choose two people to each receive $300,000 over the next three years. The money will be used to develop, test and implement the recipients’ ideas. The program may also be expanded to include two new fellows each year.
“We need to see some case made for social or community impact – the greatest good for the greatest number,” Neil Steinberg, foundation president and CEO, told PBN.
Steinberg does not want to limit proposals by suggesting specific problems to focus on, but here are a couple of places where there can’t be enough good ideas.
For-profit proposals are welcome, so anything with the potential to significantly grow jobs in a state with double-digit unemployment deserves consideration.
Nor can we have enough bright minds focused on narrowing the state’s persistent skills gap.
Big challenges, yes, but with a huge potential payoff.
So who’s up for it? •
