Michael Caldwell , Business Greenhouse Ventures

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Big Idea

Cleveland's economy has been hit hard by the recession, and unemployment in some neighborhoods is as high as 40 percent. I want to help people and communities here thrive again by expanding a small business incubator. Business Greenhouse Ventures will help people start businesses in disadvantaged sections of the city by offering advice, technical expertise, help getting loans and even infrastructure – phones, computer equipment, copiers, etc.

We have done a pilot program with Glenville Development Corp., which will continue to work with and support us. We have also been working with The Cleveland Foundation and Neighborhood Progress Inc. to implement a peer-to-peer program to help provide financing to our new neighborhood businesses for startup expenses. It is nearly impossible for a person from the inner city to get loans.
The long-term idea is to develop a franchise around our model and give the program to community development corporations around Cleveland and, ultimately, around the country.

About Michael Caldwell

I started a number of businesses during the past 30 years. I enjoyed it and was pretty good at it. I have also worked in various industries, so I know how different businesses work. After selling my last business, I had the time, desire and wherewithal to do something to make a difference. Many of my business, education and social contacts are willing to help in whatever way they can.

There is a big need for this effort. People who have lived and stayed in depressed neighborhoods, because those places are home, now want to invest more in the neighborhoods by bringing in businesses and expanding employment. It is such a joy to see people work so hard to rebuild Cleveland.