Innovation and Entrepreneurship: The Popuphood

POPUPHOOD from Eva Kolenko on Vimeo.

Oakland, California is using an innovative strategy to revitalize its Old Town business district. Sometimes a fresh idea, a little support from the community, and a willing landlord can make the difference in filling storefronts and attracting shoppers. Now, this idea may not work everywhere. But, it is important to consider how thinking outside the box can support entrepreneurs and invigorate a community. I encourage you to read the excerpts below and watch the video, then think about what attributes your community has, and what opportunities exist for you to rethink how business is done.

"Many cities in America are facing the slow decline of their main streets and shopping areas. But a new program in Oakland might be the key to reviving vibrant, local commercial centers. All it takes is a little free rent and some entrepreneurial spirit.

In September 2011, local entrepreneur Alfonso Dominguez and his friend Sarah Filley, an urban planner, teamed up to create PopuphoodOakland, a project that is giving five new retail shops the opportunity to get six months of free rent at previously vacant storefronts on one block in the neighborhood. Dominguez and Filley didn't have to work too hard to convince the landlord that owns the storefronts to get on board. The spaces had been unoccupied for at least a year, and successful storefronts might stay out past the six month mark. The Oakland Redevelopment Agency, ever hopeful to revitalize downtown, pitched in with a $30,000 grant. And the pair have plenty of creative-minded contacts in the city, so finding tenants wasn't too difficult.

"The concept of simultaneously curated retailers that open all at once removes several of the barriers to entry right away," explains Filley. "One is being the lone pioneer in a transitional neighborhood. Another is the initial capital of buildout, rent, and staffing. The third barrier is, doing it on your own,you don't necessarily have a retail community. You can't control who comes in next to you. In this case the retailers have neighbors that they know will complement their business."

It was least to see how the strength of five new storefronts could invigorate a newborn old that as sporadically populated before. All of the retailers were enthusiastic about the potential to stay longer than the six month free rent period. A lot of people showed up during the December 9th launch making it look like the strategy of combining retail and entertainment with a no-risk lease seems to work here."