Digital Media Pilots

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    Elaboration and Validation of

    Digital Media Pilots

    Creative Industries Technical Assistance

    Author: Kieran OHea

    Version: 1.0Date: 12 September 2002

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    Digital Media Pilot Projects 2

    Table of Contents

    1. Introduction ............................................................................................................................................ 3

    2. Methodology .......................................................................................................................................... 3

    3. Approach ................................................................................................................................................ 44. Impact ..................................................................................................................................................... 4

    5. Pilot 1: Financial PilotAccess to Capital ......................................................................................... 5

    5.1 Rationale ......................................................................................................................................... 5

    5.2 Networks and Mentoring Programmes .......... .......... ........... .......... .......... ........... .......... .......... ......... 5

    5.3 Cross-Border Investment Trends .......... .......... ........... .......... ........... .......... .......... ........... .......... ....... 5

    5.4 Regional Development and Clustering .......... .......... ........... .......... .......... ........... .......... .......... ......... 6

    5.5 Investment Readiness ........... ........... .......... .......... ........... .......... ........... .......... ........... .......... ........... . 6

    5.6 Educating Investors .......... ........... ........... .......... .......... ........... .......... ........... .......... .......... ........... ..... 6

    5.7 Identifying Financial Sources .......... .......... ........... .......... .......... ........... .......... .......... ........... ........... . 7

    5.8 Challenges to be addressed .......... ........... .......... .......... ........... .......... ........... .......... ........... .......... ..... 7

    5.9 Investment funds for digital media .......... ........... .......... ........... .......... ........... .......... .......... ........... ... 7

    5.10 Pilot Participants .......... ........... .......... ........... .......... ........... .......... ........... .......... .......... ........... .......... 8

    5.11 Venture Capital Companies ........... .......... ........... .......... ........... .......... ........... .......... ........... .......... ... 8

    5.12 Pilot Objectives ......... ........... ........... .......... ........... .......... .......... ........... .......... .......... ........... ........... . 8

    5.13 Pilot Duration and Costs ........... .......... ........... .......... .......... ........... .......... ........... .......... .......... ......... 9

    5.14 Implementation schedule .......... .......... ........... .......... .......... ........... .......... ........... .......... .......... ........10

    5.15 Deliverables .......... ........... .......... ........... .......... ........... .......... ........... .......... .......... ........... .......... ......10

    5.16 Impact ............................................................................................................................................11

    5.17 References .....................................................................................................................................12

    6. Pilot 2: Mentoring Pilot Digital Business Labs ..................................................................................14

    6.1 Rationale ........................................................................................................................................146.2 Challenges to be addressed .......... ........... .......... .......... ........... .......... ........... .......... ........... .......... ....14

    6.3 The Digital Business Labs Programme .......... ........... .......... ........... .......... ........... .......... .......... ......15

    6.4 Approach .......................................................................................................................................15

    6.5 Cluster Development .......... ........... .......... ........... .......... ........... .......... ........... .......... .......... ........... ..16

    6.6 Pilot Objectives ......... ........... ........... .......... ........... .......... .......... ........... .......... .......... ........... ...........16

    6.7 Pilot Participants .......... ........... .......... ........... .......... ........... .......... ........... .......... .......... ........... .........17

    6.8 Lab Structure .......... .......... ........... ........... .......... ........... .......... .......... ........... .......... .......... ........... ....17

    6.9 Marketing Plan .......... ........... ........... .......... ........... .......... .......... ........... .......... .......... ........... ...........18

    6.10 Pilot Duration and Costs ........... .......... ........... .......... .......... ........... .......... ........... .......... .......... ........18

    6.11 Implementation Schedule .......... ........... .......... ........... .......... ........... .......... ........... .......... .......... ......20

    6.12 Deliverables .......... ........... .......... ........... .......... ........... .......... ........... .......... .......... ........... .......... ......20

    6.13 Impact ............................................................................................................................................20

    6.14 References .....................................................................................................................................21

    Annex I: Irish EVCA Members .................................................................................................................23

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    Digital Media Pilot Projects 3

    1. Introduction

    The interim report of this assignment, Digital Media Overview, proposed the implementation of a

    number of pilot applications that could address the main deficiencies in digital media in Ireland

    and in doing so support the development of the sector. The purpose of this exercise is to elaborate

    and validate the proposed pilot projects, addressing the manner in which they should be executed.

    The work will also identify the resources required and will predict the outputs and the impactachieved. It will also identify comparable initiatives in Ireland and abroad and incorporate points

    of best practice from these into the proposed pilots.

    According to the Harvard Business School 2nd

    annual Internet Conference, Success on theInternet is no longer driven purely by technology, first mover advantage and buzz. Rather, it is

    much about quality of management and the ability to grow successfully in an increasingly

    competitive market. In the digital media sector, the two main inhibitors to growth are poor stateof readiness and inability to secure funds. Some might point out that there are other serious

    inhibitors, most importantly bandwidth but this is mainly a problem of cost, not availability and

    solving the problems associated with business skills, finance and networking might well enable

    the bandwidth problem to be solved.

    Pilot 1: Access to Capital Pilot 2: Digital Business Labs

    Finance

    Mentoring

    Networking

    The main areas where support is needed are mentoring, networking and finance. The two pilots

    identified in the Digital Media Overview deal with finance and with business support. The firstpilot deals with access to financial information by digital media companies. It also deals with

    cross-border investment trends. The second pilot proposes a business knowledge programme for

    digital media companies. It also deals with creating partnerships between digital media

    companies and larger enterprises. Finance features in pilot one while mentoring is the main

    feature of pilot two. Networking meanwhile is a feature of both pilots.

    Between them the pilots will address a range of issues aimed at improving the business and

    investment prospects of Irish digital media companies. The absence of major investors and digital

    media role models means that this is unlikely to happen without public sector intervention.

    The amount of the intervention sought for the two pilots is 197,000 (314,000).

    2. Methodology

    It is anticipated that the pilot projects might be the subject of a call for proposals. In the case of

    each pilot proposal, the following methodology will apply:

    Description of the pilot consisting of the rationale behind it and what the pilot might achieve.

    Summary of the information that exists, which might allow the proposal to be validated.

    Description of similar initiatives which have been implemented, together with a comment ontheir effectiveness

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    Proposed work plan for each pilot including an implementation schedule

    Cost estimates for the implementation of the pilots.

    This methodology is intended to provide sufficient information to allow a decision on the merits

    of the proposals to be reached.

    3. Approach

    The pilots will run independently but in parallel. Each will run pilot seminars, which will be used

    for knowledge sharing purposes and to determine future needs. Each pilot should also publish a

    series of industry guidelines on issues including IPR, seeking funding, developing industry

    partnership and cash flowing developments.

    The life cycle of the pilots will include four phases:

    1) Existing situation and requirements analysis (desk & field research),

    2) Solution design (strategic planpilot modules)

    3) Implementation and demonstration (pilot networks, seminars and results publication)

    4) Marketing plan preparation and implementation of dissemination activities.

    The pilots should address the issue of dissemination and showcasing achievements in the digital

    media sector. For this reason they should investigate links to a suitable digital media awards

    ceremony.

    4. Impact

    The pilots must address the following needs of the digital media community:

    Improvement of quality of business models

    Better business networks for digital media

    Benchmarking of good practice in the sector

    Support on IPR and financial issues

    For the investment community, the following needs must be addressed:

    Improvement of ability of the venture capitalists to form funding consortia

    Making the digital media sector more prominent

    Creating business networks for venture capitalists and business angels

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    5. Pilot 1: Financial PilotAccess to Capital

    5.1 Rationale

    According to the European Commission, a lower level of investment and market transparency for

    accessing capital in Europe than in the US results in a smaller percentage of the available risk

    capital being channeled towards digital media companies, especially start-ups and SMEs. Thisslows down growth and employment creation. Many start-ups and medium sized firms need to

    expand beyond their national border but cannot. In the highly turbulent market situation where

    revenue models are unclear, investors are reluctant to provide capital for medium term risk

    bearing projects. Traditional financial institutions are faced with the lack of physical goods on

    which to secure loans; the capital provided is often in the form of interest bearing loans, not ideal

    for digital media and Internet related investments that may need many years to become profitable.

    5.2 Networks and Mentoring Programmes

    Venture capitalists, unlike banks, should be attracted to digital media companies, which promise

    to be ideal vehicles for exit strategies, funding plans, intellectual property rights, low cost bases

    and multiple income streams. However many digital media companies have not attempted to

    structure themselves in this way. Investment companies have therefore tended to shy away from

    digital media and this situation has only become worse in the wake of the dot.com fiasco. Digital

    media companies need help from investors in order to identify their Critical Investment Success

    Factors (CISFs). The subsequent alignment of digital media companies and investors to a pointwhere the art of creativity meets the art of entrepreneurship can only be achieved through the

    creation of special networks and mentoring programmes. The objective of these initiatives should

    be to encourage digital media talent to flourishartistically, culturally and economically.

    5.3 Cross-Border Investment Trends

    Investment trends differ from country to country but trends unique to digital media have emerged

    in Europe. In the US, regulations concerning capital gains tax, IPR, privacy and securities are

    consistent across the country. In Europe, where there are multiple regimes, trading across

    boundaries can be problematic and this is compounded by the legal difficulties of trading in

    digital IP. Investors have therefore proved reluctant to invest across borders and this is hindering

    the growth of the European digital media sector. Even more alarmingly, business angels tend toinvest in companies within a 100km radius of the city in which they are based.

    One of the ways to address this problem is to set up cross-border networks of investors and digitalmedia companies. Ireland needs particular assistance in this respect because none of the major

    digital media companies or venture capitalists is based here. Ambitious companies andentrepreneurs inevitably gravitate to where the money so this means that the best talent eventually

    dissipates. An Irish venture market for digital media, capable of providing an alternative to this

    trend, is unlikely to develop without public sector intervention.

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    5.4 Regional Development and Clustering

    Unequal regional development is also contributing to the problem. There are not many digital

    media clusters and still fewer successful ones. This is a result of regions placing low priority ondigital media, which is in turn due to a lack of growth expectations, poor financing or perceived

    lack of competence. In a sector where typically 90% of the companies have less than 10

    employees, the lack of clusters is not only hindering the development of a digital ecology but is

    also making it difficult for investment companies to see progress in the sector and to identify

    likely investment targets. Regions need to create active cross-border networks that link clusters of

    digital media companies with each other and with the investment community. These networks can

    help to transfer knowledge from digital media experts in high activity metropolitan clusters to less

    advanced regions. Ireland must make more effective use of networks and clusters if we are to

    make the offerings of our digital media companies more visible and attractive to investors.

    5.5 Investment Readiness

    In Ireland, despite culture and digital media being inherently linked, the development of the

    digital media sector has up to now been inconsistent with the popularity of Irish culture and with

    more traditional forms of expression such as music. To speed up growth, the sector needs a

    scheme that will successfully match digital media companies with suitable investors and

    financiers. Help is also needed in reducing the "time to investment" and lowering search costs for

    both parties. This would facilitate companies looking for fast growth and strategic partnerships

    but this is unlikely to occur of its own accord. What is needed is fully supported investment

    where the venture capitalist brings in not only money but advisors, premises, network contacts in

    the industry, introductions to complementary technologies and the positioning of senior

    managers.

    5.6 Educating Investors

    Match making should be facilitated by organisations that can work between investors and digital

    media companies and can foster mutual understanding between the two communities. Investors

    have up to now been afraid to get hands-on with digital media companies, who for their parthave been ill prepared to meet the assessment criteria of the investors. The result is a hesitation by

    the investment community due to perceived immaturity in the digital media sector. This is even

    inhibiting the availability of seed capital, or amounts less than 50k for exploring ideas in this

    sector.

    The pilot will therefore include an induction phase for investors, which will more fully appraisethem with the characteristics and potential of the digital media market. The objective will be to

    set up a common standard of induction so that anyone from the finance community can have a

    common grounding in the characteristics of the digital media sector. This could be achievedthrough a series of seminars in which practitioners from the sector could lecture on best practice,

    business models and sectoral trends, using practical experience and case studies.

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    5.7 Identifying Financial Sources

    The aforementioned problems have been compounded by the difficulties that digital media

    companies have had in accessing the right financial information. Different types of projects

    require different types of funding while at the same time different investors have different

    thresholds and criteria for investing. To add to the confusion, digital media companies often end

    up in the investors technology portfolios because of the sectors association with the Internet.Addressing these problems should involve the development and widespread dissemination of an

    all-island matrix showing digital media companies who they should approach for different types

    of funding. The matrix should take into account the criteria of the financing organisation,

    including minimum and maximum investment, type of company supported and types of

    investment made.

    5.8 Challenges to be addressed

    The barriers to development associated with raising finance in digital media give rise to the

    following challenges:

    Creating new funds that combine private and public money, to be managed by investors witha sophisticated understanding of the sector.

    Providing access to these funds with a professionalism and swiftness which reflects the needsand dynamics of the sector.

    Offering finance at different stages of business development, in particular at seed capitalstage.

    Structuring funding in a flexible way, offering venture loans and equity options and providing

    continuing financial advice after the loan is secured.

    Creating environments for research and experimentation, which are not dependent on shortterm market return.

    Creating a series of investment funds for digital media at seed capital, business developmentand corporate expansion levels, ranging from 5000 to 5 million.

    Encouraging funds to be linked to specific business schools, cities and regions in Ireland topromote regional economic development and the emergence of dynamic digital ecologies.

    5.9 Investment funds for digital media

    Part of the work will be to examine the options for creating investment funds for digital media.

    These funds might be located at:

    University business schools providing a link between university research, the development ofbusiness and management skills and the creation of new digitally related businesses.

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    At a city level, similar to the New York Discovery Fund, which is promoted through theMayors office and administered via the New York Economic Development Agency and/or

    At a national level, similar to the Scottish Technology Fund (a joint venture between ScottishEnterprise and 3i) and the Welsh Technology Growth Fund.

    5.10 Pilot Participants

    The target groups for participation in the pilot will include the following. Participants will be used

    as a source of consultation and validation at all stages of the pilot.

    Digital media and Internet companies, particularly SMEs, entrepreneurs and start-ups.

    Professional and industrial associations, networks, market analysts and managementconsultants.

    Partnership forums, associations for business angels, venture capital, etc., incubator typeorganisations.

    Dissemination networks, magazines, newspapers etc.

    5.11 Venture Capital Companies

    The targeted investment organisations in the South offer a range of investment options for digital

    media companies.

    Name Seed Start Exp Min Invest Max Invest

    ACT Venture Capital N Y Y 500 1500Campus Companies Venture Capital

    Fund

    Y Y Y - -

    Delta Partners - - - 500 3000

    Dublin Business Innovation Centre Y Y N 12 127

    Eircom Enterprise Fund N Y Y 38 391

    Enterprise Equity Ireland N Y Y 75 1600

    ICC Venture Capital N Y Y 75 1600

    Shannon Development Y Y Y 20 1000

    Trinity Venture Capital Y Y Y 100 2500

    Source: European Venture Capital Association, 1999, in kEuros

    For a full listing of EVCA members in Ireland, see Annex I.

    5.12 Pilot Objectives

    The pilot will increase the capacity of Irish enterprises and potential ventures (i.e. project results

    and business ideas) in the digital media sector to identify, represent, develop and certify

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    knowledge, competencies and business potential. It will do this by making possible a better

    understanding of the market opportunities, trends and evolution scenarios and through the

    development of a set of services tailored to meet the needs of this markets stakeholders, namelythe entrepreneurs, the knowledge producers and providers, the investors and the venture

    capitalists. It also aims to improve the availability of knowledge about finance options by making

    this available to the digital media sector in a centralised way.

    The pilot will be delivered through networks and seminars aimed at investors and digital media

    companies. The digital media participants will undergo an audit of investor readiness as part of

    their assessment. From the investor side, a model for an e-tolerant investment fund will be

    created. The pilot will include a simulated application of this model and a simulated cluster

    development that will explore different configurations of digital practitioners and investors. The

    pilot will carry out a continuous, sustainable market observation and intelligence building

    exercise, tailored on the real needs of the above-mentioned stakeholders.

    5.13 Pilot Duration and Costs

    The proposed duration of the pilot is 12 months following which it will deliver a report and

    publish best practice guidelines. Progress will be validated at the 6 and 11 month stage in specialworkshops. There will be an interim review after six months. The work should be carried out in a

    number of work packages to be more precisely defined by those implementing the pilot. The

    following guideline includes the effort in person days that should be dedicated to each work

    package.

    Work package 1: Management and workshop organisation (50)

    Work package 2: Marketing: secure participating organisations (20)

    Work package 3: Verified model for all-island network of investors/digital media companies (50)

    Work package 4: Verified model for preparing digital media companies for investment (20)

    Work package 5: Verified model for digital media induction programme for investors (20)

    Work package 6: Verified model for investment fund for digital media (20)

    Work package 7: Verified model for all-island matrix of funding possibilities (20)Work package 8: Dissemination of results and best practice guidelines (20)

    The following cost estimates are in Euro:

    Management and workshop

    organisation

    50person days @ 800 40 000

    Marketing 20 person days @ 800 16 000

    Workpackages 3-8

    implementation150 person days @ 800 120 000

    Literature Brochure, workshop

    material

    5 000

    Website Design, development,hosting

    10 000

    Public Relationslaunchand ongoing publicity

    Use of PR company 5 000

    TOTAL 196 000

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    The resources to be made available by InterTradeIreland to the pilot are a financial contribution

    of 196k and optional hosting of some of the pilot activities.

    Total effort to implement the pilot is estimated at 11 person months.

    5.14 Implementation schedule

    5.15 Deliverables

    The pilot will investigate and practically demonstrate the feasibility of various support measures

    aimed at furthering the development of more effective relationships between digital media

    companies and investors. The pilot will be encouraged to address all of the following issues and

    implement those that are appropriate:

    Setting up of cross-border networks of investors and digital media companies

    Transferring knowledge from digital media experts in high activity metropolitan clusters toless advanced regions.

    Reduction of the "time to investment" and lowering search costs for both parties.

    Management &

    workshop organisation

    Marketing

    All-island network

    Investment readiness

    Investor induction

    Investment fund

    Financial matrix

    Dissemination of results

    WP / month 1 2 3 4 5 6 7 8 9 10 11 12

    Worksho 1

    Worksho 2

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    Model for an audit of investment readiness

    Design of an induction phase for investors, to more fully appraise them of the characteristicsand potential of the digital media market

    Blueprint for creating investment funds for digital media

    Development of an all-island matrix of funding possibilities

    5.16 Impact

    The success of the pilot programme will be judged by measuring the following criteria:

    Positive feedback from the marketing and dissemination campaigns which will serve tofurther verify the need for the pilot actions.

    The interest and commitment of the financial and digital media communities will be gaugedby their level of participation in the programme and by the strength of the emergingnetworks.

    Acceptance by the investment community of the induction programme and the investmentfund for digital media.

    Acceptance by the digital media community of the investment readiness programme and theall-island funding matrix.

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    5.17 References

    The following projects have been funded by the European Commissions e -Content programmethrough its action line on opening up access to capital for digital content companies. Most of

    these projects have similar objectives and the European Commission in choosing so many similarprojects has taken something of a scattergun approach to increasing the flow of venture capital

    into digital content projects in the various Member States. While this is an admirable objective,

    the downside is that these projects are doing little to stimulate the flow of investment across

    borders and most of them are clearly lacking the direct participation of digital media companies.

    The pilot should consider these aspects when carrying out its background research and preparing

    its methodology.

    http://www.checkchances.org/

    CHECK YOUR CHANCES addresses small e-content businesses (up to 50 employees) that

    consider an IPO as an option to raise venture capital. The project provides information services to

    these companies that support them in their decision-making process and helps them to evaluate

    whether an IPO is advisable considering the background of their specific business situation. If the

    assessment is positive, CHECK YOUR CHANCES will support the e-content businesses in

    taking their first, yet critical, steps towards an IPO.

    In the project a comprehensive set of learning content on corporate financing has been created.The different forms of financing (equity vs. debt, intermediate forms) and various sources of

    financing (banks, public funding, business angels, venture capitalists, strategic investors,shareholders) are described. This general part is supplemented by an overview of typical phases

    of financing and situations with high financing demand. Practical guidance is given with respect

    to venture capital financing. Concerning an initial public offering, requirements and steps in

    preparation and administration are described.

    For entrepreneurs there is a comprehensive section providing basic knowledge, practical tips anda financial planning tool for the preparation of a business plan. Important terminology is

    explained in a comprehensive glossary on financial and business administration terms. By means

    of commented case studies the financial and operational development of well-known companies

    of the growth industries are illustrated.

    The most comprehensive presentation of material and tools is provided as an e-learning

    environment on the Internet (www.checkchances.org). This service also includes self-checks of

    knowledge, a selection of relevant links and sections dealing with subjects closely related to the

    matter of financing, such as company valuation and intellectual property rights. Other formats for

    output are a CD-ROM and a printed handbook, which both include part of the content and tools

    available on the Internet.

    http://www.checkchances.org/http://www.checkchances.org/http://www.checkchances.org/
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    http://www.e-nec.net/

    NEC is a project designed by a European consortium in 2000 to support the start-up of European

    Internet-related SMEs in the new economy by providing an animation and tutoring service aimed

    at improving access to risk capital. During the twelve months' duration of the project, the

    consortium produced an online incubator, a virtual meeting place - made up of a network of real

    "physical" regional meeting places - where human talent, venture capital, consulting services,

    entrepreneurship, and training come together, meet and are invited to start new ventures.

    This New Economy incubation model serving as a meeting point is experiencing rapid worldwide

    growth. The need, especially among New Economy start-ups, for venture capital services and

    digital consulting is growing exponentially with the Internet. In response, business incubators are

    developing into New Economy for-profit businesses of their own that emphasise venture capitalfinancing and consulting services in exchange for fees and equity in tenant companies. The NEC

    strategy has been designed to meet the entrepreneurs', investors' and experts' needs. It introduces

    a new approach to simplify the investor - invested relationship and the international partner

    matchmaking process.

    NEC tools, in fact, intend to contribute to the definition of a standard legal and advisory platform

    which is simultaneously European and local, personalised and codified, and which reduces

    investment barriers and risks. In other words, as far as NEC is concerned, the distinctive formula

    for delivering services is that of a networked incubator, i.e. a mechanism to foster partnerships

    among start-up teams and other successful Internet-oriented firms, because the New Economy is a

    Networked Economy. That formula is facilitating the flow of knowledge and talent across

    companies and the forging of marketing and technology relationships between them.

    http://www.checkchances.org/http://www.checkchances.org/http://www.checkchances.org/
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    6. Pilot 2: Mentoring Pilot Digital Business Labs

    6.1 Rationale

    Digital micro-enterprises have many creative ideas but inadequate time and resources to develop

    them. They are often ill equipped to deal with investors and content commissioners. The success

    of the digital media sector relies heavily on developing sufficient creative talent to satisfy the

    demand for diverse and compelling content. While their work is recognised and flagged as beingat the forefront in terms of innovation and content, digital media innovators and entrepreneurs

    need access to an intellectual infrastructure that will support business growth in this dynamic

    industry.

    The pilot should provide a programme of business support to digital media companies, focusing

    mainly on the needs of established, indigenous enterprises, with the aim of promoting best

    practice in business management. It will provide knowledge on issues such as business

    development, branding and intellectual property rights, with the objective of encouraging digital

    media companies to become competent in these practices. It will also encourage them to exploit

    the resources around them, such as academic support, R&D facilities, business-to-business

    networking and collaboration opportunities. Contributors to the programme will include digital

    media companies, experts in business, law, finance and sponsoring organisations, ideally with the

    participation of a business school and a University research centre.

    Large organisations are often unaware of the different business functions that digital media can

    add value to, including Training; Corporate communications; Customer relations; Retail activity;

    Supplier networks; Marketing; Internal communications; Procurement; and Public relations. Mostorganisations will eventually use digital media to some degree even if it is only on the company

    web site. However, they need help from the sector in order to understand more fully the ways in

    which digital media can help their business. In a pilot scenario, digital media companies could be

    given assignments by sponsoring companies. Digital media specialists could also take upresidencies inside sponsoring companies in order to carry out research into their digital needs.

    The sponsoring company may also wish to place staff inside digital media companies, to learn

    more about digital media or to carry out due diligence in the case of a possible investment.

    Partnerships such as this will lead to more widespread recognition of digital media as a problem

    solving technology and will increase the profile of the Irish digital media sector.

    6.2 Challenges to be addressed

    The following challenges are associated with helping Irish digital media companies to access the

    global market:

    Developing business knowledge of how to provide continuity of supply and how to protect,harness and exploit intellectual property rights.

    Finding cost-effective ways for emerging talent and talented products, works or programmesto be showcased internationally.

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    Supporting small companies to secure international distribution deals and to provide acompelling global online presence.

    Creating networks and partnerships that allow digital media companies to establish profitableworking relationships with a range of clients.

    6.3 The Digital Business Labs Programme

    The programme should be a knowledge-driven process for digital media companies that enables

    them to take a 360o

    view of their future business directions. It will include modules on analysis,

    discovery, creative thinking and strategic orientation and is designed to help digital media

    companies to equip their businesses for the future. The programme will provide an innovative

    approach to company orientation and the provision of prescriptive business solutions. It will help

    participants to align with best practice in their sector and to align their own internal strategies.

    The programme will give digital media companies a high-level view on their business and ontheir sector and helps them to develop future orientations.

    Companies will be given the opportunity to participate in cost-effective group labs that aresmall enough to retain the intimacy of one to one consulting.

    The programme will provide digital media companies with a low cost introduction to highquality consulting and business analysis.

    Participants will learn about best practice in the sector and how to apply it to their businesses.

    The proposed model is not unique and could in theory be offered to any sector by any competent

    consulting firm. What makes it unique in the context of this application is that nobody in Ireland

    has attempted to deliver business knowledge to the digital media sector using this model. Thoseconsulting firms that could do it have chosen not to, either because they do not recognise the need

    from inside the sector or they do not see sufficient profit in it. Public sector intervention is

    therefore needed to provide this important service.

    6.4 Approach

    The pilot will be based on successful mentoring programmes but will be especially designed for

    the needs of digital media companies. The pilot programme should be made available on a

    subsidised basis to companies who meet certain criteria relating to size and turnover, including

    independent digital media companies and traditional media companies who are in transition to

    digital. Business-to-business mentors will participate in phase one of the pilot and will impartknowledge directly to the participants via the labs programme. Phase two of the pilot will

    encourage large enterprises to work with local digital media companies by setting up partnershipsaimed at increasing the role of digital media in everyday business. Large businesses are potential

    market makers due to their ability to stimulate the market by outsourcing certain requirements to

    digital media specialists or by becoming investors in their companies. This phase will seed further

    understanding in the business community of the impact of digital media on their business.

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    The pilot programme of one-day labs will be run once a month for three months starting at the

    end of month 3 of the pilot. The labs will cluster companies around issues key to their

    development. These issues have been identified from within the sector. The objective is to mix

    the diversity of a conference with the intimacy of one-to-one consulting. The lab model is a

    hybrid that will bring up to 16 participants from 8 companies together for one day off-site with

    four independent experts, each addressing one of the identified topics. The day will be split

    between lectures and round table discussion.

    The Digital Business Labs are intended to be the first steps in a development path that will

    disseminate best practice in the digital media sector, encourage collaboration between the

    companies and lead to an eventual migration into a digital media cluster when such facilities

    come on stream. The pilot scheme is borne of a commitment to the development of a robust

    digital media sector with great economic potential.

    6.5 Cluster Development

    The following diagram shows how the proposed pilot programme helps what are currently non-

    aligned digital media companies to mobilise themselves into a collaborative platform sharing

    skills and access to expertise. Such a platform will galvanise the digital media sector, filling gaps

    in its business armoury and equipping it to compete internationally. This will eventually become

    an organically derived digital cluster, which will be attractive to investors and capable of

    substantial and sustainable growth.

    6.6 Pilot Objectives

    The results of the recent O2 National Digital Media Conference (www.ndmc.info) indicate that

    digital media companies would benefit from better advice in a number of areas including business

    development, branding and intellectual property rights. The cost of obtaining such advice can be

    T0 T0 + 6 T0 + 12 T0 + 18 T0 + 24 T0 + 30

    BUSINESS

    KNOWLEDGE

    PROGRAMME

    Performance

    Assessment

    and Business

    Model

    Analysis

    COLLABORATIVE PLATFORM (featuring Industry Working Group)

    PEER

    EXPOSURE:

    Industry

    Conference &

    Workshops

    MARKET

    EXPOSURE:

    Collective

    Pitching and

    Marketing

    Migration

    into DIGITAL

    CLUSTER

    http://www.ndmc.info/http://www.ndmc.info/http://www.ndmc.info/http://www.ndmc.info/
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    prohibitive so it is intended to offer the labs at a highly subsidised price that will be cost-effective

    for all participants. The pilot programme is intended to fill a gap in the market for business

    knowledge but is also intended to complement other initiatives aimed at developing a first-class

    digital media sector in Ireland.

    The main aim of the pilot programme is to equip digital media organisations with the necessary

    knowledge and intellectual resources required to successfully manage the growth and direction oftheir organisations. The pilot programme should comprise three labs. Up to eight companies from

    the digital media sector should attend each lab. Each company can bring two people. Leading

    independent experts in business, infrastructure, IPR and finance will lecture at each lab. An

    international guest may also feature. By the end of the pilot programme, a total of 24 companies

    will have gone through the pipeline.

    If successful, the pilot may create a demand for further programmes. If this demand is sufficient,

    a fully operational labs programme running one lab per month could reach 10% of the digital

    media sector or approximately 100 companies in its first year.

    6.7 Pilot Participants

    The target audience for the programme is the digital media sector. The digital media community

    has specific needs and requires a special approach that few people outside the industry arecapable of understanding or providing. The team of experts that will deliver the programme must

    have such experience. There are three typical profiles for participants in the programme:

    1) Start-ups or recently established companies facing the challenge of rapid growth.2) Established companies that are in transition into new markets.3) Organisations and entrepreneurs who are considering investing in the digital media sector

    In addition to the above, the programme must encourage the participation of business schools,

    research centres and the local business community.

    6.8 Lab Structure

    The suggested format of the Lab is a morning of presentations by acknowledged experts,

    followed by an afternoon of round-table issue discussions with the experts from the morningsession. The following would be a typical schedule:

    09h00Positioning your business

    10h00Marketing and presentation skills: hitting the right pitch.

    11h00Unlocking value from IPR

    12h00Effective networking with the business and finance communities 13h00 Lunch

    14h00Roundtable discussions of present business issues with the experts who presented themorning content.

    17h00 Close.

    Each lab participant should receive focused business advice from acknowledged experts in the

    field. The right advice on IPR, Finance and Marketing can make the difference between winning

    and losing in the Digital Media arena. Such advice doesnt come cheap, but the lab programme

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    enables young companies to benefit at a low cost from unique, valuable advice normally only

    available to longer established, cash rich organisations.

    Certain participants may need a more personalised type of service. The pilot should have the

    flexibility to explore the structure of a more intensive lab dealing with individual clients and

    covering the following topics:

    Discovery: an in-depth look at the clients business model, customer base, development planand pipeline.

    Market Landscape: presenting industry trends, developments and best practice relevant to theclient.

    Validation: evaluating the clients current market position and direction against the marketlandscape and identifying gaps.

    Strategy: identifying corrective actions, presenting findings to the client and working withthem to ensure that the business strategy is in line with the business opportunity.

    6.9 Marketing Plan

    The following tactics will be used to create awareness of the labs and secure critical mass

    participation:

    PR programme supported widely in the press and trade media

    Marketing through trade associations such as NIIM and IIA

    Sampling of databases by phone and of a larger number of companies by e-mail

    Sampling includes information on labs and request to assist in shaping labs by replying toembedded survey

    Use input from sampling to refine lab objectives, confirm participant cost and date of first lab

    Once sufficient response obtained from sampling to sell out first lab, go out to a wider targetaudience to sell out remaining two labs

    Publicise these via e-mail with link to Lab web site and through the press

    6.10 Pilot Duration and Costs

    Funds are limited in the digital media sector and there is not a tradition of paying for consulting.

    Lack of a subsidised business support programme is depriving those most in need of help. On the

    other hand, pricing the labs too low or offering them for free might attract participants for the

    wrong reasons. A nominal participation charge may therefore be considered. However the cost of

    planning and delivering a labs programme still far exceeds the amount that could be collected in

    revenue from participants. This makes the lab programme an unattractive proposition for a

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    Digital Media Pilot Projects 19

    commercial organisation. Yet without such a programme the digital media sector is being

    deprived of valuable information which could help companies to grow.

    The work should be carried out in a number of work packages to be more precisely defined by

    those implementing the pilot. The following guideline includes the effort that should be dedicated

    to each work package.

    Work package 1: Management and planning (20)

    Work package 2: Marketing: secure participating organisations (20)

    Work package 3: Lab organisation (30)

    Work package 4: Developing industry partnerships (20)

    Work package 5: Dissemination of results and best practice guidelines (10)

    The cost of each lab is 16,000 including management and planning, guest speakers time andexpenses, venue costs and catering. Additional costs are likely to be incurred in promoting the

    programme and securing the participants. The lab programme will be run over a 6-month period

    allowing for 2 months of planning, followed by 3 labs over 3 months and 1 month for follow up

    and reporting. Approximately 6 person months of effort are anticipated.

    The following cost estimates are given in Euro:

    Management and reporting 30person days @ 800 24 000

    Marketing and networking 40 person days @ 800 32 000

    Lab organisation 10 person days per lab @

    800 per day x 324 000

    Guest experts 4 person days @1500 perday inc travel expenses x 3

    18 000

    Literature Brochure, lab material 5 000

    Website Design, development,

    hosting

    10 000

    Public Relationslaunch

    and ongoing publicity

    Use of PR company 5 000

    TOTAL 118 000

    The format of the labs is lectures followed by round table discussion. Technology requirements

    are minimal as no digital media creation or presentation is anticipated. Conference-style

    presentation will be the norm. There will therefore be no exceptional costs in this area and all

    equipment needed will be included in the venue apart from portable computers which some of the

    speakers may care to bring with them.

    Documentation will include a lab programme which will initially be developed for online

    dissemination during the marketing phase and which may later be reproduced in printed brochureform. A programme covering each days activities will be integrated into this brochure. Theprinted content of the Labs programme may be supplemented by handouts from the experts

    should they wish to make these available.

    The contribution of InterTradeIreland to the project should include a financial contribution of

    118,000 and the optionally the provision of facilitation including the hosting of the three labs.

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    6.11 Implementation Schedule

    6.12 Deliverables

    The first deliverable is the lab offering which will be used to attract a critical mass ofparticipants.

    The second deliverable is the lab programme including the names of the experts who havebeen secured to deliver the labs.

    The third deliverable is the report of the labs programme which will be published as a bestpractice guide.

    The fourth and final deliverable is the report of the ongoing mentoring programme aimed atbuilding working relationships between digital media companies and large clients.

    6.13 Impact

    The success of the pilot programme will be judged by measuring the following criteria:

    Feedback from sampling campaign leading to a critical mass of interest and a capacityaudience at the three pilot labs

    Securing the interest and commitment of the business community and the subject experts

    Positive review from feedback forms submitted by the labs participants

    Sufficient word of mouth generated to create demand for second labs programme

    Management & Planning

    Marketing & Networking

    Lab organisation

    Industry partnerships

    Dissemination of results

    WP / month 1 2 3 4 5 6

    Lab 2 Lab 3

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    6.14 References

    www.nmk.co.uk

    NMK is based at the University of Westminster as part of its Business Development and

    Commercial Research Unit. It is a business resource for individuals and companies working in

    the new digital media. NMK is publicly funded, but does not position itself in any of the

    traditional public-sector institutions or hierarchical structures. Rather, NMK operates across

    economic boundaries, bringing together knowledge and expertise from higher education,

    professional bodies and the creative industries, in order to drive forward the UK's new media

    industry.

    Making use of these extensive assets and contacts, NMK can offer businesses and individuals a

    rich programme of events, courses, publications and networking activities, all aimed to boost

    profitability and facilitate development in the new media industry. From the freelancer just

    starting out to the director of a large production team, NMK helps people to realise their business

    and creative potential.

    The Innovation Labs

    An important part of the NMK project is the Innovation Labs. These are a cluster of new media

    businesses neighbouring the NMK office at the Harrow Campus of the University ofWestminster. The businesses are developing a wide-range of new media products and services,

    and, as well as office space, they receive support from the NMK programme.

    Industry Advisory Groups

    Through a number of steering groups, NMK is in a process of ongoing consultation with leading

    members of the new media industry, in order to ensure that the programme reflects the needs and

    concerns of the UK's industry.

    A Learning Resource for New Media Companies

    NMK's Knowledge Network is a new way of delivering the information, skills and expert

    knowledge that everyone working in new media needs to succeed. The Network is grouped into

    four main themes, each of which includes a range of subjects: project management, pricing,

    pitching, recruitment and training are just some of the issues covered.

    Many of the subject areas are hosted by specialised experts, all of whom have been selected on

    the basis of their experience, understanding and willingness to support the UK's growing new

    media industry. As well as donating knowledge resources to the site, they can also be contacted

    by e-mail.

    http://www.nmk.co.uk/http://www.nmk.co.uk/http://www.nmk.co.uk/
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    Digital Media Pilot Projects 22

    www.firsttuesday.com

    First Tuesday is the world's leading network for innovation and technology. With over 50,000

    active members worldwide, the First Tuesday network includes 43 cities in 25 countries across

    five continents and brings together the leading players in the technologies sector: entrepreneurs

    and managers of new ventures; venture capitalists and investors; service providers; and"intrapreneurs" and technology managers in corporate entities. No other such company operates

    in as many cities with such local depth as First Tuesday.

    First Tuesday cities hold monthly events, such as: the Classic event, which traditionally brings

    together the full range of a city's membership on the first Tuesday of the month; Thought

    Leadership events, which bring together leading experts to brainstorm on issues in the

    technology sector; or Wireless Wednesday events, which are focused on the wireless segment of

    the telecom sector. Among its services for companies are:

    Business Cluster Exchanges: First Tuesday brings together clusters of companies from twocities that work in the same business area of the technology sector.

    Chambers of Commerce: First Tuesday works with local chambers of commerce to organiseevents where they match companies visiting a First Tuesday city from another country or city

    with companies in the First Tuesday city.

    Discussion Forums: First Tuesday maintains discussion forums among members concerningspecific themes or areas of the technology sector.

    Elevators: First Tuesday offers leading companies a platform to present and publish theirsuccesses to other members.

    HR: First Tuesday is preparing to offer on-line postings for job offerings and CV brokering

    services for recruiters and candidates.

    Inside: First Tuesday organises events inside its members' companies that bring peopletogether around specific themes on innovation and technology.

    MatchMaking: First Tuesday offers a service to match business plans with funding sources.

    Offices: First Tuesday will offer an on-line exchange of under-utilised office space in FirstTuesday cities.

    Research: First Tuesday will soon be offering its members on-line access to leading researchon companies and trends in the technology sector.

    Suppliers: First Tuesday will soon be offering suppliers in the technology sector theopportunity to post the services they offer in an on-line format to First Tuesday members.

    Youth: First Tuesday is developing product services for youth that are interested ininnovation and technology.

    http://www.firsttuesday.com/http://www.firsttuesday.com/http://www.firsttuesday.com/
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    Digital Media Pilot Projects 23

    Annex I: Irish EVCA Members

    The following companies are the Irish members of the European Venture Capital Association and

    should be considered for inclusion in certain aspects of the pilot. Searches in EVCA for Northern

    Ireland venture capitalists yielded nothing. All UK members are located on the mainland.

    Company3i IRELAND(full member) Address Alexandra House, 1st Floor The Sweepstakes, Ballsbridge

    IRL - Dublin 4

    Ireland Telephone 353 1/667.38.38 Telefax 353 1/667.36.33 [email protected]

    Contact Mr. Clive Austin Partners Mr. Alex Brebbia Type of firm Independent Quoted Company Number

    of staff 2 Minimum Investment () not applicable Maximum Investment () not applicable Investment

    stages Buyout - Buyin (below EUR 15M), Delisting, Expansion - Development Capital, Privatisation,

    Buyout - Buyin (EUR 15M to EUR 75M), Buyout - Buyin (above EUR 75M) Industry preferences No

    Preferences Geographical preferences Ireland Type of financing Equity Financing

    CompanyA+L GOODBODY(associate member) Address International Financial Services Centre North Wall Quay

    IRL - Dublin 1Ireland Telephone 353 1/649.20.00 Telefax 353 1/649.26.49 Websitewww.algoodbody.ieEmail

    [email protected] Mr. John Olden Partners Mr. Paul Carroll Mr. John Coman Ms. Eithne

    Fitzgerald Mr. Jack O'Farrell Mr. John Olden Mr. David Widger Type of firm Law Firm Number of staff

    400

    CompanyACT VENTURE CAPITAL LIMITED(full member) Address Jefferson House Eglinton Road, Donnybrook

    IRL - Dublin 4

    Ireland Telephone 353 1/260.09.66 Telefax 353 1/260.05.38 Websitewww.actventure.comEmail

    [email protected] Mr. Niall V. G. Carroll Partners Mr. Aidan Byrnes Mr. Niall V. G. Carroll Mr.

    Walter Hobbs Mr. Owen Murphy Type of firm Independent Private Partnership Number of staff 17

    Minimum Investment () 500000 Maximum Investment () 15000000 Investment stages Early -Stage,

    Expansion - Development Capital, Buyout - Buyin Industry preferences Computer Related, Medical - LifeSciences - Health Related, Internet Technology, Communications other Geographical preferences Ireland,

    United Kingdom, Continental Europe Type of financing Equity Financing

    CompanyDELTA PARTNERS(full member) Address ICL Building , South County Bus. Park Leopardstown

    IRL - Dublin 18

    Ireland Telephone 353 1/294.08.70 Telefax 353 1/294.08.77 [email protected]

    Contact Mr. Frank Kenny Partners Mr. Dermot Berkery Mr. Shay Garvey Mr. Frank Kenny Mr. Maurice

    Roche Type of firm Other Number of staff 8 Minimum Investment () 500000 Maximum Investment ()

    3000000 Investment stages Early-Stage Industry preferences Internet Technology, Communications other,

    Medical - Life Sciences - Health Related Geographical preferences Ireland, Europe Type of financing

    Minority Equity

    CompanyDUBLIN BUSINESS INNOVATION CENTRE(full member) Address TCD Enterprise Centre Pearse Street

    IRL - Dublin 2

    Ireland Telephone 353 1/671.31.11 Telefax 353 1/671.33.30 [email protected]

    Contact Mr. Desmond C.W. Fahey Partners Mr. Gerard A. Cashin Mr. Domhnall McCullough Mr. Chris

    Park Mr. A.M. Prendergast Dr. Frank Roche Type of firm Limited Company Number of staff 12 Minimum

    Investment () 12697 Maximum Investment () 253947 Investment stages Seed Capital, Start -up Capital

    Industry preferences Internet Technology, Other , Telecommunications, Computer Related Geographical

    preferences Ireland Type of financing Equity Financing, Loans

    http://www.3i.com/http://www.3i.com/http://www.3i.com/mailto:[email protected]:[email protected]:[email protected]://www.algoodbody.ie/http://www.algoodbody.ie/http://www.algoodbody.ie/mailto:[email protected]:[email protected]://www.actventure.com/http://www.actventure.com/http://www.actventure.com/mailto:[email protected]:[email protected]://www.delta.ie/http://www.delta.ie/http://www.delta.ie/mailto:[email protected]:[email protected]:[email protected]://www.dbic.ie/http://www.dbic.ie/http://www.dbic.ie/mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.dbic.ie/mailto:[email protected]://www.delta.ie/mailto:[email protected]://www.actventure.com/mailto:[email protected]://www.algoodbody.ie/mailto:[email protected]://www.3i.com/
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    Digital Media Pilot Projects 24

    CompanyEIRCOM ENTERPRISE FUND LTD.(full member) Address 114 St. Stephen's Green West

    IRL - Dublin 2

    Ireland Telephone 353 1/701.51.30 Telefax 353 1/679.72.53 Websitewww.eircom-enterprise-fund.ieEmail

    [email protected] Ms. Maura Moore Type of firm Limited Company Number of staff not

    applicable Minimum Investment () 38092 Maximum Investment () 390921 Investment stages Seed

    Capital, Start-up Capital, Early-Stage Industry preferences Communications other Geographical

    preferences Ireland Type of financing Minority Equity, Loans

    CompanyENTERPRISE EQUITY IRELAND LTD(full member) Address Dublin Road

    IRL - Dundalk County Louth

    Ireland Telephone 353 42/933.31.67 Telefax 353 42/933.48.57 Websitewww.enterpriseequity.ieEmail

    [email protected] Mr. Conor O'Connor Type of firm Limited Company Number of staff 4

    Minimum Investment () 300000 Maximum Investment () 1600000 Investment stages Early -Stage,

    Expansion - Development Capital, Buyout - Buyin Industry preferences No Preferences Geographical

    preferences Ireland Type of financing Equity Financing, Minority Equity

    CompanyGENSEC IRELAND LIMITED

    (full member) Address Beech House, Beech Hill Road ClonskeaghIRL - Dublin 4

    Ireland Telephone 353 1/261.40.00 Telefax 353 1/260.31.75 Websitewww.gensec.comEmail

    [email protected] Mr. Steve Wood Partners Mr. Shane Lynch Type of firm Fund Management

    Company Number of staff 16 Minimum Investment () 250000 Maximum Investment () 5000000

    Investment stages Start-up Capital, Early-Stage, Bridge Industry preferences Communications other,

    Computer Related, Internet Technology Geographical preferences Europe, Ireland Type of financing

    Equity Financing, Minority Equity

    CompanyHIBERNIA CAPITAL PARTNERS(full member) Address 88 St. Stephens Green

    IRL - Dublin 2

    Ireland Telephone 353 1/475.47.25 Telefax 353 1/475.47.28 [email protected]

    Contact Mr. David Gavagan Partners Mr. David Gavagan Mr. Niall McFadden Type of firm LimitedCompany Number of staff 8 Minimum Investment () 2000000 Maximum Investment () 15000000

    Investment stages Delisting, Expansion - Development Capital, Replacement Capital, Turnaround -

    Restructuring, Buyout - Buyin Industry preferences Communications other, Consumer Related, Industrial

    Products and Services, Manufacturing, Medical - Life Sciences - Health Related Geographical preferences

    Ireland, United Kingdom Type of financing Equity Financing, Majority Equity, Minority Equity

    CompanyICC VENTURE CAPITAL(full member) Address 72-74 Harcourt Street

    IRL - Co. Dublin 2

    Ireland Telephone 353 1/415.55.55 Telefax 353 1/475.04.37 Website not applicable [email protected]

    Contact Mr. David Fassbender Partners Ms. Anne Bannon Mr. John Dixon Mr. Tom Kirwan Mr. Pat

    McGrath Mr. Maurice McHenry Mr. Martin O'Brien Type of firm Fund Management Company Number of

    staff 14 Minimum Investment () 1000000 Maximum Investment () 25000000 Investment stagesExpansion - Development Capital, Mezzanine - Bridge Finance, Replacement Capital, Buyout - Buyin

    Industry preferences Computer Related, Consumer Related, Industrial Products and Services,

    Manufacturing, Services, Biotechnology, Electronics, Industrial Automation Geographical preferences

    Ireland, United Kingdom Type of financing Equity Financing, Loans, Minority Equity

    CompanyIVCA (IRISH VENTURE CAPITAL ASSOCIATION)(national association member) Address c/o NCB Venture Ltd

    IRL - IFSC Dublin I

    Ireland Telephone 353 1/611.56.11 Telefax 353 1/611.59.87 Website not applicable Email

    http://www.eircom-enterprise-fund.ie/http://www.eircom-enterprise-fund.ie/http://www.eircom-enterprise-fund.ie/mailto:[email protected]:[email protected]://www.enterpriseequity.ie/http://www.enterpriseequity.ie/http://www.enterpriseequity.ie/mailto:[email protected]:[email protected]://www.gensec.com/http://www.gensec.com/http://www.gensec.com/mailto:[email protected]:[email protected]://www.hcp.ie/http://www.hcp.ie/http://www.hcp.ie/mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.hcp.ie/mailto:[email protected]://www.gensec.com/mailto:[email protected]://www.enterpriseequity.ie/mailto:[email protected]://www.eircom-enterprise-fund.ie/
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    Di i l M di Pil P j 25

    [email protected] Mr. Michael Murphy Type of firm AssociationE Number of staff not

    applicable

    CompanyMILLENNIUM CAPITAL LIMITED(full member) Address Molesworth House 8-9 Molesworth Street

    IRL - Dublin 2

    Ireland Telephone 353 1/679.08.18 Telefax 353 1/679.90.14 Websitewww.campuscapital.comEmail

    [email protected] Mr. Patrick Ryan Partners Mr. Patrick Ryan Type of firm Independent

    Private Partnership Number of staff 3 Minimum Investment () 40000 Maximum Investment () 635000

    Investment stages Buyout - Buyin, Early-Stage, Expansion - Development Capital, Privatisation, Start-up

    Capital, Other Early-Stage Industry preferences Biotechnology, Computer Related, Electronics, Industrial

    Automation, Internet Technology, Telecommunications Geographical preferences Ireland Type of

    financing Minority Equity, Senior Debt, Mezzanine

    CompanySHANNON DEVELOPMENT COMPANY(full member) Address Park House National Technolog. Park

    IRL - Castleroy, Limerick

    Ireland Telephone 353 61/33.65.55 Telefax 353 61/33.65.45 Websitewww.shannon-dev.ie/investments

    [email protected] Mr. Geoff McMullen Partners Mr. E. O'Grady Ms. Michelle

    O'Grady Mrs. Ann Slattery Type of firm Government - International Organisation Related Number of staff

    4 Minimum Investment () 20000 Maximum Investment () 1000000 Investment stages Early -Stage,Expansion - Development Capital, Seed Capital, Start-up Capital, Buyout - Buyin Industry preferences

    Consumer Related, Electronics, Telecommunications Geographical preferences Ireland Type of financing

    Minority Equity

    CompanyTRINITY VENTURE CAPITAL(full member) Address Dunleary House Dun Laoghaire Road

    IRL - Co. Dublin

    Ireland Telephone 353 1/202.04.20 Telefax 353 1/202.04.21 [email protected]

    Contact Mr. John Tracey Partners Mr. Gavin Bourke Mr. Don Harrington Mr. Rory Quirke Mr. Shane

    Reihill Mr. Karl Schtte Type of firm Independent Private Partnership Number of staff 9 Minimum

    Investment () 500000 Maximum Investment () 15000000 Investment stages Early-Stage, Expansion -

    Development Capital, Start-up Capital Industry preferences Computer Related, Electronics, Internet

    Technology, Telecommunications, Communications other Geographical preferences Ireland, UnitedKingdom Type of financing Equity Financing, Minority Equity

    mailto:[email protected]:[email protected]://www.campuscapital.com/http://www.campuscapital.com/http://www.campuscapital.com/mailto:[email protected]:[email protected]://www.shannon-dev.ie/investmentshttp://www.shannon-dev.ie/investmentshttp://www.shannon-dev.ie/investmentsmailto:[email protected]:[email protected]:[email protected]://www.tvc.com/http://www.tvc.com/http://www.tvc.com/mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.tvc.com/mailto:[email protected]://www.shannon-dev.ie/investmentsmailto:[email protected]://www.campuscapital.com/mailto:[email protected]