Where to Tomorrow for Welsh Dot Coms?
Where to tomorrow for Welsh Dot Coms? Given the recent turbulence of tech stocks globally, is the money still out there for Internet start-ups and how can the fragile and still nascent Welsh Net economy survive the current climate?
The panel event attended by Jed Simmons of Eos Ventures, Lucy Marcus of Marcus Venture Consulting, Adrian De Ferranti of Ferranti Venture Capital, Alastair King of New Media Investors and Peter Shortt of The Wales Innovation Fund and moderated by Niki Panourgias, Investment Editor of www.netimperative.com certainly did raise the temperature in Cardiff.
Topic under discussion was “Where to tomorrow for Welsh Dot Coms”
Thanks to Niki’s artful guidance of the discussion a number of topics where covered, some of the comments made were…..
Lucy P. Marcus stressed the importance of community and partnerships if a raw economy is to succeed. “Those with talent should be mentored, keep the pool of talent full!” she said.
The importance of VC friendly behaviour was brought to the forefront by Adrian De Ferranti, “ Send a brief synopsis, the whole business plan can come later!”, he stressed.
The question of recruitment was raised by First Tuesday Cardiff member Greg Cannon, “ Its virtually impossible to find quality staff”, he said. As with the rest of the UK, London included this is a hot topic and the panel suggested a variety of solutions including training old world staff in the ways of New Media or tempting ex-Welsh folk back to the nest!
Peter Shortt was keen to stress the importance of quick, clear decision making by founders and clarity of revenue streams if a business is to be successful. “Defensible revenue streams, defensible revenue streams and defensible revenue streams”, was his advise to FTC entrepreneurs.
Alastair King and Jed Simmons both agreed that it was the people behind the idea that make it a success. “A good management team is imperative”, said Alastair, and Jed concluded, “entrepreneurs must have a good idea, good people and clear revenue streams if they are to succeed”.
The community in Cardiff learnt a massive amount from the panel discussion, and enjoyed the opportunity to network with VC’s and e-business developers from London.
Thanks to our sponsors Palser Grossman, Deloitte + Touche and The Wales Innovation Fund for helping to make the night such a success!