SmallBizResource Blog -- Startups

Win Ideablob's Money

Posted by Gayle Kesten Friday, Jan 25, 2008, 12:58 PM ET

A penny for your thoughts is a sweet sentiment, but it won’t get your business far. Ten thousand smackers for a great business idea, on the other hand? That’s how much is up for grabs every month from a new site called ideablob.com.

Ideablob, which went live in the fall, is the brainchild of Ami Kassar. Kassar is the chief innovation officer of Advanta, a Spring House, Pa.-based credit-card issuer that focuses on small businesses. Nearly one year ago, he and his team were brainstorming ways to broaden Advanta’s appeal in the marketplace.

Ideablob emerged as “a platform for SMBs and entrepreneurs to come and share their ideas,” Kassar told me. “In exchange they get feedback, make connections and can win a prize of $10,000.”

American Idol fans will appreciate this part: Each monthly winner is determined by fellow ideablob members, who vote for their favorite business idea. To assess what’s posted (posting your own idea is an intuitive process, by the way), it’s probably most convenient to view by category, which includes health, kids, food, business, technology and music. The contest is open to anyone with a business idea, including small-business owners, entrepreneurs, students and stay-at-home parents.

So far there have been three winners, Kassar said -- a software developer with the idea to develop a college-freshmen orientation product that integrates with Facebook and MySpace; a nonprofit that organizes trips for young adult cancer patients and their families; and a dance group that’s applying Web 2.0 technologies to the performing arts as a way for people to enjoy them at home.

“Even the people who don’t win are still thrilled,” Kassar said. “They gain publicity and awareness.”

The skeptic in me wondered whether putting your idea on the Web for the world to see makes sense. What’s to prevent someone from running off with it? Kassar said that hasn't been an issue.

“We found that so far the majority of ideas on the site are from people already out in the public with them and trying to take it to them next level,” he said.

January’s contest is soon coming to a close; eight finalists are now featured on Ideablob’s home page. Leading the way is a youth marketing firm that teaches entrepreneurship, a nonprofit milk bank for premature and critically ill babies, and a national Indian fast-food chain.

Go take a look. At the very least, you'll come away inspired. At that, my friends, is priceless.

Startups