King’s Exchange

PROJECT IDENTIFICATION

Project Title:

King’s Exchange: Local Business Collaboration Program

Project Type:

Economic Development

Scale:

Neighborhood

Timeline:

Medium-term (2-3 years)

ISO37101 mapping for ‘Local business collaboration program.’

Scores

Score	Purpose	Issue	Justification
5	Attractiveness	Economy and sustainable production and consumption	The King’s Exchange program aims to foster economic growth by creating a diverse marketplace that reflects local culture and provides support for small businesses. It leverages local artisans and established businesses, enhancing economic vitality while preserving the unique character of King’s Landing. The project’s focus on collaboration and resource sharing significantly contributes to the attractiveness of the neighborhood.
5	Social cohesion	Culture and community identity	King’s Exchange respects and enhances local cultural identity by fostering collaboration between established businesses and new startups. This initiative strengthens social ties and showcases the community’s rich artisan culture. By promoting inclusivity and encouraging shared experiences among residents, it helps build a stronger sense of belonging.
4	Well-being	Health and care in the community	By providing mentorship programs and resources to small business owners and aspiring entrepreneurs, the King’s Exchange improves the overall well-being of the community. Access to resources and support systems contributes to both physical and mental health, fostering a thriving environment that prioritizes the happiness and success of its residents.
4	Resilience	Living together, interdependence and mutuality	The King’s Exchange program promotes economic resilience by encouraging collaboration among local businesses and entrepreneurs. Its focus on mentorship and community support enhances the neighborhood’s capacity to adapt to economic changes and ensures that the community remains interconnected, ultimately leading to a more resilient local economy.
3	Responsible resource use	Education and capacity building	The initiative not only provides access to resources but also focuses on skill-sharing and capacity building within the community. By delivering workshops and mentorship opportunities, King’s Exchange equips local entrepreneurs with valuable knowledge that promotes sustainable practices and responsible resource management.
4	Attractiveness	Living and working environment	Through the establishment of a co-working space, the King’s Exchange program enhances the local living and working environment. This physical space encourages interaction, creativity, and collaboration among entrepreneurs, ultimately contributing to a more vibrant and attractive neighborhood for both residents and businesses.
4	Social cohesion	Governance, empowerment and engagement	King’s Exchange places a strong emphasis on community engagement and participatory decision-making. By involving residents in the planning process through design sessions and forums, the program empowers local stakeholders and reinforces the importance of inclusive governance, ultimately fostering stronger community bonds.
3	Preservation and improvement of environment	Community smart infrastructures	The project encourages innovative economic practices, potentially leading to the development of community smart infrastructures that can support sustainable business operations. By leveraging local networks and resources, King’s Exchange may promote environmentally friendly practices among participating businesses.
3	Resilience	Mobility	The program includes plans for increased community engagement and outreach, which may lead to improved mobility solutions. By fostering a diverse marketplace and encouraging local commerce, it could enhance overall accessibility and transportation options for residents.
4	Social cohesion	Living together, interdependence and mutuality	The collaborative nature of King’s Exchange fosters a sense of interdependence among community members. By encouraging mentorship and resource sharing, it cultivates an environment where businesses support one another, allowing for mutual benefits and shared success.

CONTEXTUAL FOUNDATION

Specific Local Challenge Addressed:

King’s Landing, the vibrant capital of the Seven Kingdoms, showcases a thriving yet uneven economic landscape where small businesses face pressures from rising property values and competitive markets. Entrepreneurs, particularly those from diverse backgrounds, often find limited access to mentorship and resources necessary to navigate these challenges. This project directly addresses the need for robust support systems for small business owners and aspiring entrepreneurs, as highlighted in the assessment, which noted that the local economy is influenced by varying levels of access to resources and business knowledge among different community members.

Local Assets Leveraged:

The foundation of the King’s Exchange program will leverage the rich artisan culture inherent in King’s Landing, along with the spirit of community collaboration already evident in the city’s numerous markets and local business networks. Specifically, initiatives like “Horse and Cart Lane” illustrate the city’s readiness to adopt innovative, sustainable economic practices. This program will enhance existing community organizations such as the North Star Community Center, allowing for a network effect where established businesses share resources and knowledge with budding entrepreneurs.

Cultural/Social Fit:

King’s Exchange respects the identity of King’s Landing as a culturally rich and historically significant area. It builds on local values of support, community, and craftsmanship. By encouraging collaboration between established enterprises and new startups, the program not only fosters economic growth but also reinforces social ties, honoring the community-centric ethos of its diverse residents. This alignment with local practices—even a nod to traditional mentoring systems within various cultural groups—further positions the initiative as a cherished asset emerging from within the neighborhood.

PROJECT DESCRIPTION

Core Concept:

King’s Exchange is a collaborative program designed to pair established local businesses with aspiring entrepreneurs and startups within King’s Landing. By facilitating mentorship and resource-sharing, the initiative aims to bolster economic resilience, empower local artisans, and create a thriving marketplace that reflects the city’s unique character.

Key Components:

Physical/Spatial Element: An accessible co-working space dedicated to local entrepreneurs where workshops, networking events, and collaboration sessions can take place, positioned near existing marketplaces to encourage foot traffic and community interaction.
Programming/Activity Element: Regularly scheduled mentorship sessions, skill-sharing workshops, and collaborative market days where established businesses can showcase and promote the products of startups, fostering a spirit of collaboration and economic interdependence.
Community Engagement Element: Engagement with community members through design sessions and forums to ensure that the program reflects their needs and aspirations while encouraging participation across all socioeconomic backgrounds.

Implementation Approach:

Phase 1: Launch a community outreach campaign to raise awareness of the King’s Exchange initiative, supplemented with local surveys to gather input on the types of mentorship and resources that would be most valuable. Identify and recruit established businesses willing to act as mentors. Initial workshops can begin with topics such as marketing, finance, and navigating the local market.
Phase 2: Establish the co-working space and host a series of networking events to build connections between established businesses and startups. Also, launch a pilot of the collaborative market days, assessing the interest and participation of both entrepreneurs and the community.
Phase 3: Expand programming based on feedback from participants, while securing additional partnerships with local institutions, such as universities, for further resources like training, access to student interns, or incubator programs for startups.

STAKEHOLDER ECOSYSTEM

Champions:

Local entrepreneurs and small business owners. Specific individuals may emerge through community forums, ideally drawn from cultural groups within the city that share a commitment to holistic growth.

Partners:

Local organizations including the North Star Community Center, the Chamber of Commerce, and local artisan guilds that can provide additional resources, networking opportunities, and venues for programming.

Beneficiaries:

Primarily, small business owners and aspiring entrepreneurs will gain valuable mentorship and resources to enhance their business acumen. Additionally, the broader community will benefit from a diverse marketplace enriched with local culture and offerings.

Potential Opposition:

Some established businesses may resist engaging in mentoring due to concerns about competition or resource depletion. Addressing these worries will involve emphasizing the mutual benefits of collaboration and the shared success achievable through a robust local economy—highlighting potential for increased customer base rather than rivalry.

FEASIBILITY & IMPACT

Success Indicators:

Quantitative metric: Increase in the number of small businesses established in King’s Landing by 10% within three years.
Qualitative metric: Positive feedback from mentorship participants indicating a perceived value in knowledge gained and connections made.
Community-defined metric: Increased participation rates in local market days, with residents expressing satisfaction regarding the diversity of products available.

Ripple Effects:

The Kings Exchange initiative has the potential to stimulate a broader localized economy, creating jobs and encouraging investment in King’s Landing’s cultural richness, enhancing community pride. As businesses thrive, it fosters a renewed interest in local commerce, ultimately mitigating displacement fears by solidifying the economic base of lower-income neighborhoods.

Risk Mitigation:

The primary risk involves low participation rates. To mitigate this, the program will prioritize pre-launch engagement, ensuring community buy-in through incentives such as feature spots in local markets or promotional opportunities for successful partnerships.

LOCAL ADAPTATION NOTES

What makes this project uniquely suited to this place:

This project directly addresses the socio-economic dynamics of King’s Landing, where artisanal culture intersects with modern market demands. Unlike other urban settings where larger chains dominate markets, King’s Landing’s identity thrives on its unique local craftsmanship and community ties. The project leverages this while countering the threats new economic pressures pose.

How locals would likely describe this project in their own words:

“King’s Exchange is like a village market in our neighborhood—where seasoned hands guide the fresh faces, and we all uplift each other. It’s about harnessing the spirit of our craftsmanship, teaching each other skills, and making sure our community thrives together.”