Week 5:2<\/p>\n
Half a day of what is called Thinking Digital University.\u00a0 And I attended the Startup Panel which had the most attendees of any of the sessions.\u00a0 This may have had to do with limited space on many of the other events, but nobody attending this would have been sorry.<\/p>\n
First the panel members were introduced and interviewed by the host, Paul Smith, Renaissance Man.\u00a0 What peals of wisdom were there?<\/p>\n
Most startups will fail but some make it.\u00a0 What is obvious is that few \u2013 even those who fail \u2013 few regret the process.\u00a0 This is the nature of startups.<\/p>\n
Joining the panel was Martin Bryant, managing editor of The Next Web<\/a>. He writes very successfully about digital business.\u00a0 He has seen everything but seemed reluctant to make a judgement on what makes for a good startup or success in business.\u00a0 He did raise the fact that there are masses more start-ups now than there were even 2 years ago.\u00a0 But one often does not hear about them because they are quietly going about their business, keeping their heads down.\u00a0 Lots of people are talking.\u00a0 London is well placed though the regions are at different stages and (then he flattered us) people think highly of North East.<\/p>\n Was the Industrial Revolution fuelled by start-ups? What do the successful startups have in common? Maybe a certain… No nothing. Um…. Wait. Yes. Mat Clayton, Co-founder of MIXCLOUD<\/a> was next.<\/p>\n The founders are computer scientists and engineers from Cambridge. Founded in 2009 without any venture capital funding.\u00a0 They bootstrapped the company, started out using a container as their first office and upgraded to a warehouse after 6 months. They tried to get funding but all VC\u2019s rejected them and they later discovered that VCs will not fund anything in music.\u00a0 Nobody believed their numbers.\u00a0 But they focussed, persisted and broke even after 2 years.<\/p>\n They launch a lot of features and if it does not work they will kill it off.\u00a0 Eighty percent of what they do fails.<\/p>\n Main mistake and biggest regret was not launching sooner because they were so desperate to get funding.<\/p>\n What made them?\u00a0 The team is critical. Bright people. And don’t be afraid of failure.<\/p>\n And then Christen Duong, Product Lead for Foursquare<\/a><\/p>\n She has been working in software development (apps) for quite a long time; involved in various kinds of app development in the travel and movement of people space.\u00a0 Her first involvement workwise was in a startup and she says, once you have tasted that ability to change the world, it is hard to take a step back. She got nerd swiped. An app to help runners. And the winners are<\/p>\n YossarianLives!<\/p>\n And<\/p>\n EmberAds<\/p>\n Via<\/p>\n An app to help runners.<\/p>\n EmberAds<\/p>\n <\/p>\n And the winners are<\/p>\n YossarianLives!<\/p>\n And<\/p>\n EmberAds<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Week 5:2 Half a day of what is called Thinking Digital University.\u00a0 And I attended the Startup Panel which had the most attendees of any of the sessions.\u00a0 This may have had to do with limited space on many of the other events, but nobody attending this would have been sorry. First the panel members … Continue reading Day 1 of the Thinking Digital 2012 conference #TDC2012<\/span>
\nHow do we get breakouts into entrepreneurship?\u00a0 There should be good service offerings, something fresh and new. And the advice, if sending marketing material to him (and this is probably generally applicable advice because I have heard very similar advice given by a literary agent on what to say in a covering letter)
\nUse a simple font. Don’t overdo it on the words. \u00a0Over explaining is awful, just three or four lines. Or bullet points. Then… we are talking about digital business here so \u2013 remember your URL!<\/p>\n
\nThe most successful start-ups do their own thing, not a copy of someone else\u2019s thing.<\/p>\n
\n{Nerd sniping means, to hook someone into solving a problem without paying them.}<\/p>\n
\nFoursquare seems famous for not having a business model. How are they going to make money? They are working to tie everyday life into travel recommendations.
\nThen we met Tristan Watson from loveyourlarder.com; they connect artisan food producers directly with people wanting to buy this food.\u00a0 The idea came from a baker, a friend who wanted to be able to sell online.\u00a0 They used the difference engine business accelerator to get going.\u00a0 This turned them from just a nice idea into a serious business. They got advice. Contacts…\u00a0 But in the intensity of the startup they lost a co-founder.
\nThen took funding.\u00a0 The lessons? Money goes, quicker than you think. Burn rate is very high at the start. And money does not make it any easier.\u00a0 Starting up is still difficult.
\nStartup competition was done by listening to a three minute pitch by 6 startups.
\nMexican moo should have signalled end of three minutes but only one presentation hit the wall.
\nInternational money transfer system. Transfergo.
\nUsable. IT project management tool.
\nYossarianlives!
\nInspiration engine not search engine.
\nBlooie
\nRecommendation engine.
\nVia<\/p>\n
\nEmberAds<\/p>\n