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Get up and go: how can entrepreneurial vigour be restored to the battered new media sector? The Cambridge Enterprise Conference was among those addressing this issue. (Insight).

Publication: New Media Age
Publication Date: 03-OCT-02 		Format: Online - approximately 1207 words
Delivery: Immediate Online Access

Article Excerpt
The end of last month saw the FIFTH CAMBRIDGE ENTERPRISE CONFERENCE. Dedicated to developing technology-based enterprise, the theme was 'pioneering entrepreneurship'.

"The bar is now very high and only world-class engineering teams will win early stage financing," says Christopher Spray, a senior principal with early-stage VC Atlas Venture. He thinks there are still strong new media ideas being developed, but says there are five key questions that any business must answer before being evaluated seriously by Atlas.

"First, do the founders accept that they will probably be replaced by more experienced management, normally as the business enters the high growth period?" he asks. In the US between 1997 and 1999, 90% of original new media business founders were replaced by professional managers by the time of floating.

Other questions Spray thinks new media businesses should resolve are: do they have a proven business model, a revenue expectation of [pounds sterling]35m in five years, US market potential (essential to building a strong business) and an acceptance that marketing excellence is more important than product excellence?

Few were surprised to hear that...

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