Archive for February, 2008

GDC Roundup Posts…

Well, you may have noticed that my blogging from GDC kind of fizzled out – this was due in large part to the sheer lack of time I had this past week – not that that was a bad thing, of course – I had the most useful and incredible week, perhaps ever. Very glad I was able to go!

I’m going to be doing a retrospective roundup of some of the sessions I attended etc, so watch out for a flurry of posts over the next few days – tomorrow is my last day in California unfortunately, and will be spent once again, in large part, being a bit touristy I believe… including a trip around Alcatraz at dusk, so I look forward to that!

Mitu @ GDC Roundup – Day 2: Session – “Early Stage Funding For Gaming Startups”

So my day started bright and early again on Wednesday 20th February – the first official day for those of us attending the ‘Main Conference’.

I’d been looking forward to this particular session for quite a while – and I was not disappointed. Matthew Le Merle, President of Keiretsu Forum San Francisco, and CEO of Gameplay Holdings LLC, hosted this great session about funding gaming startups, focusing particularly on Angel Investment. Not surprisingly of course, since Keiretsu Forum is, as I found out, the world’s largest angel investor network (with 750 accredited investor members throughout sixteen chapters on three continents). They are very active in investing in digital media and entertainment, and are actively seeking opportunities. I learnt lots of great practical information which complemented the kinds of things I’d been learning at the Kauffman Foundation previously, about angel investment.

Some of the key points I took away (both things I learnt, and things I suspected and had reinforced) were:

  • Most games startups begin by bootstrapping by doing contracted work, adopting a ‘Work For Hire’ approach.
  • Investors are more interested in the company rather than the current product it’s developing. They look for:
    • A great team – indeed, this is what they care the most about in most cases. Whether it’s the right team for the particular opportunity, and whether the team is committed and passionate.
    • Big opportunity / tailwinds
    • Whether it’s an investable plan – i.e. how to return on their money
  • Angels are long-term investors, usually 5-7 years, so this is an advantage over VC’s potentially.
  • In most cases, they require proof that the founders have used their own money already in the company.
  • Most angels really enjoy getting involved.
  • In preparing for fundraising, it is extremely useful to watch other angels pitch – Keiretsu Forum are apparently very happy for people to come in and do this!
  • The pitch should have 10 slides, take 20 minutes, and be written in 30 pt font. The slides should include:
    • Problem
    • Solution
    • Business Model
    • Underlying magic/technology
    • Marketing and sales
    • Competition
    • Financial Deal
  • Expect to give away lots of equity to angel investors.

All in all, I thought the session was incredibly useful for myself (I certainly gave it 5′s across the board on my scorecard!)

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Mitu @ GDC – Day 1

So today (well, now it’s technically yesterday of course!) was my first day at GDC. And wow, it has been one of the craziest days I’ve ever had! The main conference hasn’t even started yet and I am so, so glad I was able to come along; I’ve had some really great conversations with some really great people regarding my own venture – it’s been amazing hearing the stories of those who have been there and done that in terms of launching successful start-ups. I’ve also learned that the international games industry is kind of a small world!

 
So I’ll post my own round up of the day here – bearing in mind I’m actually writing this on the Caltrain on the way back to the hotel (an hour’s ride) and don’t have any internet access nor my memory stick duo adapter, so this will be photo-less for now. I will add the photo additions and spruce this up a bit later, quite possibly. I’ll embolden the ‘key’ events I attended today.

Serious Games Breakfast – A breakfast organised by the British Consulate and UK Trade and Investment, with Professor Stone from the University of Birmingham as the speaker. He spoke about the work going on in his own university in terms of games technology, and how that’s being applied to the defense industry for various training-related purposes. It was nice hearing about how the Professor Stone’s group actually commercialises the research they do, too, as that’s not something that happens too much across academia. I made contacts with some really interesting and useful people too after the presentation – so all in all, a really worthwhile event!

After this, I had some free time to kill until lunch, so I decided to have a look around the Moscone Center buildings. I started in Moscone North (opposite the W Hotel where the breakfast was) where I officially registered and received my badge. I then went over to Moscone West and picked up my wristband for the IGDA party in the evening. After checking my emails, I checked out the GDC Shop and picked out a few things I’d love to buy (books, a hoodie, a t-shirt) – unfortunately I’m completely broke till later on in the week though so that’s a shame – I hope it doesn’t all sell out!

Heading upstairs to the Intel Interactive Lounge, I saw some interesting 3D stuff going on. I spoke to a guy from TDVision about the cool things his company are doing with 3D – and also had a go on their headset. There’s a picture of me:

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UK Developer & US Publisher Luncheon – Soon after all this, it was time for the lunch, again thanks to the British Consulate and UK Trade and Investment. Ian Baverstock, CEO of Kuju Entertainment, delivered a really great speech about the Creative Industries in the UK. It was also great to briefly hear his experiences of how he got into the industry 15 years ago, and I also met and chatted to him a bit afterwards to hear a bit more about this, and his stance and advice about entrepreneurship in general. I also spoke to a few other great companies and people about my venture and about starting up in the industry. Again, a really worthwhile event!

After the lunch, I managed to meet up with Dr Jonathan Sykes and a few researchers from his lab in Glasgow Caledonian University – I’d previously got in touch with them a few months ago when I started my PhD because they’re working on some interesting stuff there, so it was a bit funny we finally met all the way out in San Francisco! It was nice to finally meet them all over lunch/coffee and hear a bit more about what they’re doing.

 
I then went to the Emotiv Product Launch Event in the Metreon Theatre – I’d been lucky enough to win some tickets for this event, and for obvious reasons related to my areas of interest in research, I was very keen to see what they were up to. The launch event was interesting and I got some great photos – however the product, although very cool, unfortunately had some technical problems in terms of the proprietary wireless technology they use, due to interference from all the cellphones etc in the room. I will do a separate write up about the Emotiv Launch Event later (once my photos are off my camera), but for now, you can read more about what happened and what the press thought at Joystiq. Personally, I’m looking forward to hearing their speaker sessions throughout the conference and seeing the technology in action, and I may perhaps visit them at their Expo booth tomorrow.

Finally, the day ended with party time! For those who may not know, GDC Parties are an important part of the whole conference experience, and are great for networking within the industry. I’d planned to go along to the IGDA party so Stuart (another Kauffman Fellow also there for the day) and I headed there at 8pm. Again, I managed to meet some really great people, and had a chat with the President of Ironworks about his thoughts on entrepreneurship, which, as always, was really great to hear about the experiences of successful people and how they got started. Later on, we also managed to meet up with Jon again, and after I bumped into Darius Kazemi, he led us to the Linden Labs Party.

I was really excited to rather fortuitously (and completely accidentally!) meet a whole bunch of people from The Education Arcade at MIT and GAMBIT, as I’ll be starting my three month internship  there in just a few weeks! It was great fun meeting them (and I managed to get into the private section of the party too!). Again I met some really great people, so although it meant a really long day, I’m very glad I went along!

So tomorrow is another day – and it’ll be even more productive and even more crazy, I imagine, as I’m actually attending sessions from tomorrow onwards – I have my whole day planned full of really good sessions, so I’m looking forward to that and also to meeting even more great people – I already have a couple of meetings planned so hopefully that’ll go well!

Mitu @ GDC Day 2 – A Brief Mini-Note

So today was another rather tiring day at GDC – so tiring, in fact, that after my past two nights of only four hours sleep, I decided to have a relatively early night and have headed back to my hotel. I will write up my GDC Day 2 experiences tomorrow when I hope to be fully recharged!

Pre-GDC Thoughts, and San Francisco

So today the rest of the Global Scholars and I went on a bit of a touristy trip around San Francisco – we ate lunch in Scoma’s, took a boat trip under the Golden Gate Bridge and around Alcatraz, and generally walked rather a lot, and saw some great sights! Overall, an excellent day!

Although I’m very glad I had the opportunity to explore San Francisco a bit, I am a bit disappointed that my GDC ticket is simply for the main conference, and wasn’t an all-access pass like I’d originally planned, as I was rather looking forward to some of the sessions of the Serious Games Summit. However, my GDC experience will start tomorrow, and I am rather excited. In the morning, thanks to UK Trade & Investment and the British Consulate-General, I’m attending a Serious Games breakfast, and also a UK Private Networking Lunch. Then, in the evening, I’ll be going along to the Emotiv product launch event, followed by the IGDA party in the evening.

It seems that this year, GDC is getting a lot more press attention than previous years – it certainly seems to be being far more intensively covered by a lot of game journalists and websites. Whilst I’ve seen a few people take an issue with this, I’m not entirely sure if it’s a bad thing – it does mean that news of it begins to penetrate out to the non-gaming-specific media too, and anything that raises the profile of innovation in games is a Good Thing, in my opinion. (Also, on a far more self-centered level, it does mean that I only need to go somewhere like Joystiq to briefly read about what went on at some of the summit sessions I’m missing out on!)

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Arriving in California…

So, the previous entry was of course written in a sleepy state in the KCI departure lounge, where we ended up being stuck for about six hours in total whilst a snowstorm raged outside. When my laptop battery died (I’d accidentally checked my power supply), I kept myself occupied by playing on my PSP, and luckily I found a newsagent selling PC Gamer, and EGM – a magazine I’d heard lots about thanks to 1up.com, but had never actually read for obvious reasons! I was very pleased to be faced with a construct-your-own Companion Cube when I opened PC Gamer:

Eventually, we were able to board the plane, which essentially ended up feeling like a bit of a private jet because the Global Scholars were virtually the only ones on the flight!

Some more pictures of arriving in San Francisco, and our hotel in Palo Alto:

Tomorrow, as it’s President’s Day (and therefore a free day for us) we’re heading out into San Francisco for some typical touristy sight-seeing. I can’t wait!

A very exciting opportunity which I’ve been dying to blog about for ages is the fact that whilst we’re here in California, it is obviously also time for GDC 2008 (18th-22nd February). Thanks in part to NCGE, and to my university (the Department of Creative Technologies at the University of Portsmouth), I’m actually going to be attending this year (the main conference, from Wednesday-Friday), and I’m just completely indescribably excited at the prospect, as it’s a fantastic opportunity to not only attend a variety of sessions that’ll help me with both my PhD research and my venture, but also to do lots of valuable networking within the industry. It’s going to be a really fun and exciting week ahead! :D

Note to self: I need to upload my later photos to Flickr – I finally jumped on the Flickr bandwagon a couple of weeks ago, and have started uploading all my photos to there – you can access it via Mitu.nu too however, just by going to http://www.mitu.nu/photos. However, my uploading software seems to be broken today, so I’m linking direct to Facebook for now!

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Global Scholars Program – Month 1 Brief Roundup!

So today marks my having been in Kansas City, and indeed, the USA for four whole weeks. Four weeks ago today, I was on my way to Heathrow Airport, waiting to fly out to Kansas City – today, I’m in Kansas City International, waiting to fly out to California! Very excited. Or at least, I would be, if the flight hadn’t meant getting up at 4am (after only 2 hours sleep thanks to delayed packing!). Also, our flight is currently delayed thanks to the snowstorm outside, and we’re not sure how long it’ll take them to clear the runway. So, I thought this was a perfect opportunity to actually get a moment to sit down and update my much-neglected blog!

 

 

Firstly, I do apologise for the total lack of updates since I’ve been here – my first four weeks as a Kauffman Global Scholar have been incredibly busy, but also lots of fun. I’ve already gained a lot since I’ve been here in terms of learning about business, about being an entrepreneur, and about developing my ideas – we’ve essentially been doing a crash-course MBA in four weeks!

 

Just to keep you updated, and more importantly, for my own reference, here is a round up of some of the things I’ve been up to since I’ve been here, and more detail about the great guest speakers we’ve had the opportunity to meet.

 

Before I begin, just to recap, I’ll explain the program I am on for those who may not be sure!

 

 

From the Kauffman Foundation website:

 

 

 

 

“Global Scholars Program fosters international entrepreneurship by immersing top young entrepreneurs from around the world in America’s entrepreneurial culture. The Kauffman Foundation, America’s leading foundation on entrepreneurship, founded the Global Scholars Program in 2007 in collaboration with the United Kingdom government, then Chancellor of the Exchequer Gordon Brown, and the National Council of Graduate Entrepreneurship. The program gives select young engineering, science, and technology scholars from other countries the opportunity to study entrepreneurship in America. For six months, Kauffman Global Scholars study, exchange ideas, and work with U.S. entrepreneurial experts.

 

 

An International Give-and-Take

In today’s economy, companies must think and act globally to succeed. The Kauffman Global Scholars Program forms the cornerstone of an important transnational dialogue that benefits all who participate.

 

Upon completing the program, Scholars take home a keen understanding of how they can apply their ideas, technical skills, and knowledge to create successful, high-impact ventures in their countries. And, the U.S. companies that host the Global Scholars as interns gain an insider’s view of the resources, cultures, and business practices that characterize the countries with which they may do business.”

 

 

My Press & Media section outlines just some of the press releases that have focused around my place on the Fellowship. It’s opened up all sorts of amazing opportunities and I’ve done some interesting things – not the least of which was meeting the PM of course!

 

 

 

 

 Global Scholars Program Speakers & Activities – The First Four Weeks

 

Mainly for my own reference, but also for those of you who are interested, here is a round up of some of the guest speakers we were lucky enough to have visit and meet with us. As mentioned, I got very ill with flu in Week 2, so I did end up missing a couple of sessions, so had to catch up with notes. If you’re interested in a more complete list of speakers, please do visit the blogs of some of the other Global Scholars – Tony and Stuart have particularly been blogging quite a bit throughout and have a more complete round up of our activities at the Foundation!

 

 

So, Just some of the things we got up to at the Foundation were as follows:

 

 

Carl Schramm – President, Kauffman Foundation

Our very first lecture began with Carl Schramm, President of the Kauffman Foundation, welcoming us, and explaining the importance of entrepreneurship to economy. I actually found this really useful, and although he talked about the ‘lonely journey’ faced by entrepreneurs, he also emphasised entrepreneurship as being one of the most valuable contributions an individual can make to society. Interesting stuff. He also talked a bit about his beliefs that entrepreneurship should be taught practically, rather than the usual American business school model of theoretical teaching taking place in the classroom, centred around writing business plans.

 

This was an interesting point, and made me think that perhaps the best entrepreneurship learning takes place with a combination of the two – and I then realised that that is essentially how this program is designed, what with our academic learning being complemented by our 3 month internship from March to early June.

 

Oh, and on the first Friday during our visit to the Foundation, this meeting took place here in Kansas City, between Carl Schramm, President of the Kauffman Foundation, and another kind of president…

 

 

 

 

 

KTEC Pipeline Innovators Event

The Global Scholars were very kindly invited along to the judging and finale of the KTEC Pipeline Innovators program – this is a fellowship program that has been running for the past year for already-established entrepreneurs in Kansas, to receive mentoring and further their business. As this was the final, the participants were asked to pitch their business in front of a prestigious panel of judges, and we were lucky enough to be able to watch this process – watching already established entrepreneurs, and particularly, listening to the feedback from the judges, was very valuable, and I’m glad we were invited. The day ended with a lavish awards ceremony – all in all, a very useful day!

 

 

Ted Zoller, Executive Director, Center for Entrepreneurial Studies at University of North Carolina & Assistant Professor of Entrepreneurship

I personally found Ted Zoller’s three sessions with us to be amongst the most useful and productive of all during our time at the Foundation – I learnt so much new information about all sorts of aspects from entrepreneurship – including, but not limited to, the importance of considering oneself a ‘Global Entrepreneur’, value propositions, finding your target market, and lots, lots more. Incredibly useful, and a very engaging speaker.

 

 

Peter McDermott, Banner Witchoff Ltd and Chair, Business Law section, Massachusetts Bar Association & Dr Andrew W. Torrance, Associate Professor, University of Kansas School of Law

Peter McDermott came in to speak to us about “Gathering, Protecting & Avoiding Intellectual Property” – I found this really insightful, as he spoke about patenting as a ‘game of attack and defense’ – indeed, this point was further illustrated by Dr Andrew Torrance, who demonstrated his ‘Patent Game’ – which perfectly supported the points that Peter had made earlier in the day. Great fun, and a great learning experience which gave me lots to think about in terms of whether or not patenting is always the way to go.

 

 

Melissa Schilling, NYU School of Business, Associate Professor of Management

This was one of the speaker sessions when I was still rather ill with flu, but I came in anyway nonetheless because Melissa’s slides looked very interesting – she came in to speak to us about ‘Strategic Management of Innovation’ . We had been given a case study to read regarding Microsoft’s Xbox, and it’s entry into the market back in 2002, so this immediately grabbed my attention of course!

 

Just to finish (and because my battery is running out!) here is one of the pictures from our official photo shoot 2 weeks ago:

 

 

 

 

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