Khan had kicked in about
But this year additional companies joined Khan in his commitment, ending up with the ultimate tally of
"We will definitely show a preference to qualified creators who have a quality idea that perhaps needs financial support to become a reality and then would be willing to do business here in Jax," Khan said in a news release.
The inaugural One Spark in the spring brought an estimated 130,000 people to the downtown
For participants, award money and "crowd-funding" shares of cash were a key to attracting the creators. Crowd-funding is where stakeholders give money to an entrepreneurial or creative concept. The One Spark model used a cash pool to offer that crowd-funding money to be distributed after the audience voted online as to who should get what. One Spark organizers say they'll still have additional monetary contributions of
Khan's funding was used to help the creators in their business ventures separately from the crowd-funding.
One Spark Executive Director
"It's worth clearing up that none of this potential capital funding belongs to or will ever belong to One Spark," Sampson said in an email. "We've partnered with these visionary venture capital partners to provide these funding opportunities exclusively for One Spark 2014 creators. How will selected creators put the funds to use? We're as excited as anyone to find out."
"Connecting great ideas to investment dollars is a crucial component of a successful event. The caliber of capital partners who will be at One Spark 2014 looking for the next big thing is truly remarkable," Rivas said in a news release.
Ultimately, Sampson said the money from Khan and other investors will impact the participants more than the audience members who attend One Spark this year.
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