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Landmark establishes Innovation Fund
The Landmark Publishing Group, which includes Landmark Community Newspapers Inc., headquartered in Kentucky, has launched the Innovation Fund. The
fund's purpose is to provide seed money, guidance and inspiration for Landmark properties looking to start new products and publications, in addition to running properties more efficiently.
The fund will have $2 million in seed money, according to a story in the May issue of the LCNI News. The money will fund the start-ups of new products and publications as well as projects that improve existing operations. A panel of Landmark executives will select projects to be implemented. They will be chosen based on adding profitable revenue or reducing expenses.
Landmark Publishing employees whose ideas are selected for implementation will be paid a
finder's fee or bonus. The amount will depend on the potential of the idea and its early success. An idea for a multi-million dollar project could be worth as much as $15,000, the LCNI News said.
To enter an idea, Landmark employees in must complete a detailed questionnaire on their proposal. Those LCNI employees lacking a business background can get coaching from Gary Miller, LCNI vice president/finance, at the
company's Shelbyville corporate office.
LCNI operates 19 papers in Kentucky, in addition to several specialty publications, including real estate booklets and sports special publications.
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