Business and basketball double-team at Target Center

Summary by Creative Investment Research, Inc.

It's not every day that basketball fans have the chance to both see a Minnesota Timberwolves game and pick up business tips from successful entrepreneurs. It's also not very often that smaller business owners have the opportunity to showcase their products and ideas during an NBA game with the potential to reach more than 19,000 fans.

But those are some of the objectives behind the Timberwolves' first "Salute to Entrepreneurs and Financial Freedom" expo at Target Center on Sunday, when the Wolves face the Boston Celtics. Purchasing a $22 or $37 game ticket allows for free admission to pre-game and post-game business workshops and exhibits. (Also, lower-level game seats are available for $47 and $60).

While some might perceive pairing a professional basketball game with a business workshop a bit unusual, organizers say it's a natural fit.

Marcus Carpenter, ticket sales executive for the Timberwolves, agrees it's a plausible strategy. "For me, it's not too tough a combination, because my job is to outreach to different community organizations and associations and provide avenues for groups to get publicity and the chance to get in front over 19,000 fans. We're reaching out to find financial leaders as well as entrepreneurs who are already successful. We thought they'd have a story to tell, and fans can capitalize on their ideas."

The timing for such an event, Carpenter added, couldn't be more appropriate. Because of the fluctuation in the economy during the last several years, he said, the notion of financial freedom and the entrepreneurial spirit are at an all-time high. This is what prompted the idea to tie in the Wolves product with financial literacy and the entrepreneurial spirit that lives in Minnesota.

Carpenter said the Wolves' expo will capitalize on the strength of small business, and he expects it to become an annual event. To his knowledge, this is the first time an NBA team has sponsored a financial literacy program.

"Minnesota has a habit of coming up with innovative solutions," said William Michael Cunningham, one of the event's speakers. Cunningham works for Creative Investment Research, a certified U.S. Department of the Treasury community development entity. He will speak on financing options for businesses owned by women and minorities.

"I wouldn't be surprised if it established something for the rest of the NBA league," Cunningham said. "You just never know who will show up, but I suspect that the amount of demand will justify the effort put into the event. Sometimes with new events, you have to do it more than once for it to catch on."

Cunningham commends the commitment of the Timberwolves to reach out to the community with an event like this.

"Marcus is aggressive in pursuing new strategies to get the team in front of the community and work with the community on new events. This is purely informative; we're not selling anything," he said.

Carpenter selected a team of financial gurus to help create, sell and market the idea. The event will consist of the "Financial Freedom" speaker series from 3 p.m. to 4:30 p.m. The keynote speaker will be Glen Taylor, majority owner of the Timberwolves.

Taylor also has held the title of international businessman, state senator, entrepreneur, philanthropist and executive of the year. Other speakers are Denise Favors of the Small Business Administration, Yvonne Chueng-Ho of the Metropolitan Economic Development Association and Hyon Kim, a local entrepreneur and former member of the University of Minnesota Board of Regents.

The Timberwolves have sold concourse space to organizations, inventors and entrepreneurs interested in marketing their ideas and products during the expo, which begins at 4:30 p.m. The game starts at 6:30 p.m., followed by a networking event.

Carpenter sees many ways attendees can benefit: "You get a chance to listen to people who are successful in the business world. You can meet peers and hear their stories. You can network. And in listening to the speakers, you will hear from associations that can help you understand the steps it takes to start a business. I'm excited. From my standpoint, there hasn't been much collaboration in the past between entrepreneurs and inventors and associations and corporations. This event will offer that collaboration. And you get a chance to see the hottest team in town."