Spread the Word: City of Toronto Launches Urban Fellows Program

City of Toronto 175 Years

One of the reasons I love living in Toronto at this particular time is the growing energy going into making the city a truly great place to live. There’s an increasing interest amongst everyday citizens in civic issues: topics like housing, transit, streetscapes, art, outdoor life, pollution, and economic vitality are fast becoming part of everyone’s sphere of interest.[1] And just as importantly, there’s an increasing willingness and capacity to change things. Unlike many other cities I’ve visited, Toronto is a place where you can actually change the way the city works, and accomplish it in your lifetime. It’s a huge reason to live here.

If this line of thinking resonates with you, and you’ve been seeking ways to get more engaged within the city, there is a program you need to know about: The City of Toronto is launching the “Urban Fellows Program“, an initiative aimed at attracting new high caliber professionals to the Toronto Public Service.

As I understand it, it’s one half boot-camp, one half incubator for smart people who want to make the city better. Participants get “an intensive introduction to the governance, operations and administration of Canada’s largest city through a combination of full-time work experience and participation in a series of seminars, tours and workshops.”

The program is one year long, with two six-month rotations in city positions. They’re seeking Masters – and Ph.D.-level experience, although that doesn’t seem to be an absolute requirement… I read it as, “we want whip-smart, well-educated people who are fired up about making the city better”. There are a limited number of positions. And it’s paid: the salary is almost $62K, some serious cash.

I love this concept, and I hope they net some really great thinkers. Applications are due may 30, and the first cohort starts this September. Please help spread the word.

[1] I readily admit to being biased by the people I surround myself with.

David Crow posted thoughts on StartupNorth about startup incubators and why we don’t have one in Toronto. As he points out, funding an incubator program is a big challenge. There aren’t enough Angels and VCs around willing to risk money on very early stage ventures here, and the ever-decreasing amounts of capital needed by tech startups look less and less attractive to investors with big chunks of money to manage. So if we’re to have a farm team, in Rick Segal’s words, how do we fund it?

I believe Toronto has both the financial and intellectual capital needed to do this.  Given that we’re having trouble getting bigger investors to fund this sort of effort, I wondered in reply whether micro-financing might be a viable alternative:

What if we tried micro-funding instead of the current approach? That might net enough investors to make it viable. We create a fund that pays for operating one session (or one year) of the program from start to finish. Price shares at, say, $5,000 apiece. Standardize the share terms so there’s no negotiation involved. Entrepreneurs offer up a fixed amount of equity in exchange for program participation. Investors share in the entrepreneurs’ risk and reward.

Who would buy? Well, at that price, I’d buy a share. I bet at least a few hundred other people would too. Wealthy investors (incl. some Angels) might purchase tens or hundreds of shares. Forward-thinking corps and a VC or two looking for higher-risk investments would buy in, and get good PR as a result. Maybe even the government buys some shares, or provides a tax incentive to others for buying. If the terms are suitable, even investors in other countries could participate.

Could we sell 2000 shares at that price? $5,000 x 2000 shares = $10M.

$10M could buy you an awfully big farm team, or even better, many cohorts of a small farm team.

Would you buy a share?

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