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Jacksonville Jaguars owner Shad Khan pledges $1 million in capital to One Spark festival participants

6:46 AM, Jan 24, 2013   |    comments
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JACKSONVILLE, Fla. -- Jacksonville Jaguars owner Shad Khan will lend his support to the entrepreneur with the next great idea, pledging $1 million in capital to participants in April's One Spark "crowdfunding" festival.

During the April 17-21 festival, the nonprofit organization looks to foster innovation by bringing together investors and creators of technology, science, music or art.

"One Spark will attract and celebrate creativity in a variety of fields including science, technology, engineering and the arts, all of which are areas of great personal interest," Khan said in a release. "Jacksonville is the perfect host for this festival and I believe One Spark has the potential to inspire some really big thinking from the brightest minds in the area and beyond."

Khan has pledged the funds through STACHE Investments Corp., which he founded in 2012 to back Northeast Florida entrepreneurs. One Spark will provide STACHE with profiles of participants prior to the festival to review, the release said.

"One Spark started with the belief that game-changers emerge from dorm rooms, garages and small studios -­- where great ideas develop. One Spark 2013 will be the point when creators of all kinds converge in our community, and when people from far and wide join together to decide on the next big thing(s). The heart of our city will be the place to get involved, be inspired, connect and collaborate," said Elton Rivas, co-­founder and executive director of One Spark, in a release.

So far, more than 250 creators are registered for the festival and 65 downtown spaces will host creations and showcases. Participants can be from anywhere in the world and are invited to show their works.

During the festival, the public votes on the creations and creators can get a slice of a $250,000 crowd fund based on how much of the vote they gain, according to the release. Investors can also contribute directly to creators.

Registration closes February 22. For more information on the festival and how to participate, visit One Spark's website.

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