Small Business
Issue No. 43 - October/November 2008
PichClub draws startup innovators
The first PitchClub event in Adelaide in August saw courageous entrepreneurs pitch their novel ideas in a capital raising rehearsal. The event, where entrepreneurs engage in a competitive, two-stage explanation of their business model, attracted 60 people to the Minter Ellison boardroom in Adelaide. Minter Ellison Partner Gerry Cawson was host. Guest speaker, Clint Walker, Rising Sun Research entrepreneur described guiding the Rising Sun Pictures spinoff to international success in Los Angeles.
“The opportunity was the technical shift to digital technology in films,” Clint says. “(Our offering) was filmmaking methods reinvented for the digital landscape. “Silicon Valley operates at a thousand miles per hour; it’s rabid and they’re looking for the best opportunity.‘Can you help me? No? See you later’.”
Problems occurred with time overruns on software development - “promises to the market we just couldn’t keep” - and budget problems arising out of inexperience that strong support helped to overcome. “Don’t go over (to the US) cold,” Clint warns.
His team managed the leap from deals worth $5000 to $120,000 and mastered team dynamics of growth from four staff to 14.
“We did a lot of client education of how our product fit into their work flows,” he says.
Clint also touted his new interest, Run With Robots, which is creating a technology platform to build virtual economies within highly social, user-content drive...
