Tim Draper, a founder of Draper Fisher Juvetson venture capital firm, is trying out a new approach to finding the next entrepreneurial superstars. In his Web log, Draper asks the readers to leave the comments with their billion-dollar ideas.

In May, Mr. Draper had invited entrepreneurs to post their ideas on his Web log. He offered no promise of money, only a chance to secure a few minutes with a bona fide top-drawer Silicon Valley venture capitalist.

Mr. Draper sponsored a similar contest last fall. That experience convinced him the event was something he should hold more often. Sure, there were a lot of “nutty ideas” among the 110 entries he had received by the first contest’s cut-off date, Mr. Draper said, but he does not doubt it was worth the time and hassle.

In the fall session, Mr. Draper and his partners gave $500,000 to Craig Elias, a 42-year-old salesman from Calgary, Alberta, to help him finance InnerSell, an online exchange that collects a commission for linking sales representatives to prospective buyers. In exchange, Draper Fisher Jurvetson received an ownership stake in Mr. Elias’s start-up.

It is doubtful that any of Mr. Draper’s Sand Hill rivals will mimic his contests anytime soon. But Tristen Langley, Mr. Draper’s assistant, said television might be interested.

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