I find it both amusing and exciting that there is increased opportunity for people to get their ideas realised. It’s like an XFactor for ideas rather than singers which, on the face of it, might be a better model than a Dragon’s Den (which let’s face it, both are getting very tired). It also smacks of Cambrian House which espoused crowd-sourcing as it’s primary model of innovation and market research. (The problem being that crowds tend to be stupid rather than smart). So while it failed, it wasn’t necessarily all bad.
This all shows that there is a market for helping people with vision get stuff done. And isn’t that what venture capital is meant to be all about. We have a poor VC network in Northern Ireland in terms of both quality and quantity. The very best tend to be entrenched in businesses they understand very well and that, for all the frustration it might cause post-Web 2.0 entrepreneurs is perfectly reasonable as it would be folly to expect an investor to put money into a venture they didn’t understand. That said – unless we start to see VCs with a little experience in the tech world, we’re not going to be able to change things.
On top of the schemes I mention on the DC blog, there’s something else planned for next summer which, at the moment, is still in stealth mode (insofar as not very much has been done for it but there’s energy, ideas and time).