When I conceived of iSelect I conceived that it would initially be a series of small, individual funds focused on individual communities. We would go and set up maybe iSelect St. Louis, iSelect Kansas City, iSelect Cleveland, and we’d have a small portfolio that we grew in that city.
Since we’ve founded iSelect and we’ve gotten out and started actually working and building the company, the need for this product, and the size of the opportunity, has overwhelmed me. I had no idea, until we really got out and started talking to people, of how much, basically, every community in America outside of Silicon Valley, and Boston, and New York, are struggling with the same issues of how do we keep our smart people, our smart kids in our community? How do we build businesses here so they don’t get shipped out once they’re about to succeed? How do we convince people to spend money in this community versus some other unforeseen, untouchable place where they don’t have a real tangible impact on the lives of the people around them?
And it’s been a little bit overwhelming to discover how pervasive this problem is across America. So, we really believe iSelect can be a lot bigger than what we initially conceived it to be.
We believe that people want to invest in their local communities. They want to invest in the smart people around them. And, so it’s going to be possible for us to raise millions, hundreds of millions of dollars to invest in these communities.
We know from what we’ve seen that there are smart people in Akron, Ohio, and in Denver, Colorado, and in Portland, Oregon who are all building businesses that need support, and if we give them that support, they’re gonna drive the growth of our economy. They’re going to drive us from 2% to 4% growth, and they’re going to solve the big problems. World hunger, cancer, and a myriad of problems we face as a society.
There are solutions out there waiting to come into the commercial arena, and all they need is a little capital and a little support to get there.
We’ve been overwhelmed with the size of the opportunity that we have in front of us. We think it could be hundreds of millions of dollars every year that are coming through our platform to fund these communities and the companies they’re growing there.