Last night I couldn't sleep and as usual my brain went into idea mode. Most of my midnight ideas are nothing more than lucid dreams, but this time I hit on something, or so I think. Why don't you be the judge.The idea: Allocate a portion of the forthcoming stimulus to nascent high tech and other startup firms.
The logic: Stimulus, in its many forms, may prevent further damage to the economy but it will not position us for growth. To grow we (we being America) are going to have to develop new goods, services and industries.
Most startups need about 2-3M and can employ up to 20 people in their infancy. I know the employment number is low, but that is not the purpose. The purpose is potentiality. The potential for the next Henry Ford, Dave Packard or Bill Boeing. The potential for the next multi-trillion dollar industry that spurs real growth. True growth. Not the ersatz tech bubble or housing kind.
A $200M allocation by Obama and congress could help incubate 100 startups. The government could even have a stake in the instance that their funding spawns the next Google! Think about it, even if only 1 of the 100 startups turns out the trillion dollar 'widget of the century' the investment will have been well worth it. Now think about 2...or 3.....
