Web Summit

Web Summit

IT Thu, Oct 27
 

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  • 09:07
    Good morning and welcome to our Dublin Web Summit live blog. Audience arriving at the RDS and are mingling in the start-up area where 50 young firms are showing their wares
  • 09:08
    First speaker on the main stage is Colm Lyon of Realex Payments who last week announced they were creating 50 new jobs having won a major British contract that expands their business by 50 per cent
  • 09:47
    Colm Lyon says Realex has seen exponential growth. It took on 2,000 retailers in the first 8 years, 3,000 in the last 2 years and will take on 5,000 this year.
  • 09:47
    We had some web access issues there but we're back now
  • 09:48
    Eamon Leonard, founder of orchestra.io is here to talk about his "incredible year". His company got acquired by US firm Engine Yard during its first year of operation
  • 09:48
    12 months is a long time in tech says Leonard
  • 09:55
    What are the core features you can build in the shortest amount of time that customers will pay for - sound advice from Orchestra founder
  • 09:58
    Leonard and his team decided to build their international network - so they want to San Franisco and took developers turned entrepreneurs out for pints. This led to the social event WhiskeyMarch!
  • 10:01
    A "quick and dirty" product was created of Orchestra's developer tools in December 2010 and in January Leonard went back to the network he had built up to get feedback
  • 10:03
    Leonard talking about the importance of "iterating" or refining everything - from the company logo to website, to the product itself
  • 10:35
    Sean Parker, the one time Facebook president, now with Spotify, and all-round tech bad boy (played by Justin Timberlake in the Social Network), was hoped to be coming to Dublin Web Summit but I hear he's not travelling now
  • 10:49
    Lot of interest in Tony Wang of Twitter who is speaking in the social media strand at 12:15. Will he provide more information on what Twitter is going to do at its Dublin office?
  • 10:50
    Microsoft's Josh Holmes on main stage now - talking about the "taxonomy of innovation"
  • 10:50
    New market - we don't know the customer yet. New offering: the customer doesn't know they want it yet - this is the area where Apple excels says Holmes
  • 10:54
    Cloud computing is not that tremendously new says Holmes. It's just a different way of charging for access to data centre services. "We've reduced the lease time to hours rather than multiple years"
  • 10:56
    Holmes claims Microsoft was ten years ahead of its time in 2001 with its tablet computers. Unfortunately they were truely awful and only Microsoft staff used them!
  • 10:57
    If you are at the Web Summit feel free to leave a comment or if you are watching from afar we are happy to take questions
  • 10:58
    Irish start-ups don't open themselves to the possibility of success. Founders are too timid. Take bigger risks and go big says Holmes because Irish co's have good technology
  • 11:30
    There's three parallel tracks at the Web Summit this morning - start-ups on the main stage, social media & online marketing and a cloud stream
  • 11:31
    Just arrived at the social media and online marketing stage. It's definitely the most popular strand
  • 11:33
    BT have provided the internet connection at the Summit. First tech event I've been at in Ireland where you can access fast broadband easily
  • 11:34
    Joe Fernandez of Klout, the service that lets you measure your "social influence" on networks like Twitter, Facebook etc, is on stage now
  • 11:35
    Fernandez started the company after he had jaw surgery and had his mouth wired up for three months - he had to use Facebook and Twitter to communicate!
  • 11:35
    He began to realise that there was people who trusted him online and what he said on social networks had most influence on them. Klout was born
  • 11:36
    Fernandez couldn't find anyone in New York to help him so hired engineers in Singapore and he went to live there for 6 months to get it off the ground
  • 11:36
    Klout launched in December 2008 - in the teeth of the global recession
  • 11:37
    Mission - to help people understand their influence and leverage. Not about brands understanding who is most important
  • 11:39
    Klout does 12 billion calls from data from Twitter's API every month i.e. they are one of the most active third party users of the service
  • 11:39
    Klout rewards the most influential people on social media - they gave people an Audi A8 to drive for the weekend with no strings attached
  • 11:42
    Klout will roll out deals with brands in Europe relatively soon - get Tweeting and you might get a free car for a weekend!
  • 11:43
    Fernandez is asked about his business model. "We're from San Francisco. We don't really worry about revenue - we have VCs" he tells the audience to laughter. More seriously he says brands pay for promotion but it's not big money yet.
  • 11:44
    Klout doesn't care about number of followers you have. It's about how people react to the content you post. That's why new media journalists score better - they intereact with people and don't just post links to their stories.
  • 11:45
    Next speaker is Alan Coleman, Online Advertising, who runs digital marketing for the Web Summit
  • 11:47
    Coleman showing how to set up a LinkedIn or Facebook advertising campaign in 15 minutes
  • 11:48
    Personality driven businesses do best on Facebook. That's why small craft businesses excel on it - Coleman. Great for generating awareness or branding but not great for getting people to click through and act on something
  • 11:54
    Coleman video links to one of his colleagues who shows how simple it is to create a Facebook ad. Next up is LinkedIn. Very practical presentation for those with online businesses
  • 11:57
    Linked In ad clicks cost about 10 times as much as each click through on Facebook and Google says Coleman but they are coonsidered higher value customers.
  • 12:00
    "Nobody likes stale cup cake ads" - Coleman on the importance of updating your ads all the time with new images and text
  • 12:02
    David Shing, AOL - colourful looking character who starts by saying he has "12 minutes to jam"
  • 12:02
    Shing, talking about web usage, most people only ever visit 30 sites
  • 12:04
    Social, syndication and search - essential tools if you want your content to be found online - Shing
  • 12:05
    The social media and online advertising stage at Dublin Web Summit
    The social media and online advertising stage at Dublin Web Summit
  • 12:06
    People's tastes have changed. Social means people will pass around good content even if it is part of a marketing campaign - Shing
  • 12:08
    Shing showing a video of how Diesel brought the Facebook Like button to its real world stories using QR codes that people could scan with their phone and tell their friends about straight away
  • 12:09
    Shing says "Like" or "Follow" are being diulted. Too easy to Like something - no real relationship. Follow being undermind by the amount of noise on social networks
  • 12:10
    This is a high speed trip through the future of tech and the web with David Shing of AOL - QR codes, invisible ink, augmented reality. You could play buzzword bingo here!
  • 12:11
    The Dublin Web Summit is known for its laid back air which stretches to the dress code – but the Cloud computing stream seems to have attracted the “suits” of the IT industry
  • 12:12
    Pepsi don't do Superbowl ads any more - they put one third of their budget into cause-based social media marketing. Big change for US TV networks
  • 12:13
    Shing says 50 per cent of world population are under 30 and they have know the internet their whole life
  • 12:15
    Publishers need to do more curation - highly good content that's out there says AOL's Shing
  • 12:16
    Future of mobile - apps that predict what you should do next. Current generation focuses on letting you share what you are doing now
  • 12:19
    Next speaker is Tony Wang from Twitter - first time someone from Twitter has spoken in Ireland since they announced their Dublin office. Paddy Cosgrave is interviewing him
  • 12:20
    Addressable market, available of talent, IT infrastructure, friendliness - reasons why Twitter came to Ireland or choses any country to have an office
  • 12:22
    Brand marketers have been on Twitter since day one, partly due to the one way follow - you can follow accounts based on interest rather than having to be "friends" with them. Useful for brands
  • 12:24
    Talking about tv series Glee and EA's Fifa computer game using Twitter for promotion and how they have to be more creative with them. Has to be good quality campaigns says Wang
  • 12:25
    Users provide a level of quality control - do they engage with a message from an advertiser. If they don't it just disappears over time. Promoted tweets have an engagement rate of 3-5% which Wang describes as pretty staggering compared to other online media
  • 12:27
    Question from floor - will Twitter locate core engineering jobs in Ireland?
  • 12:28
    Wang says early days for Irish operation. London office has a large engineering team through acquisition of Tweetdeck
  • 12:29
    Have hired first couple of people in Ireland. Basing very important functions here but doesn't sound like engineering although Wang says can't predict where it might go and is open to it.
  • 12:38
    Ronan Harris of Google highlights how staff are leaving Irish operations and buidling companies in Ireland that create employment and operate across Europe
  • 12:40
    Harris says search was Google's "one trick pony" but says it has several "new trick ponies" including You Tube, Android and Google+
  • 12:40
    Harris says Google+ is still in project phase. First 100 days has 40 million users and he predicts great things for next year
  • 13:03
    It's lunch time at Dublin Web Summit so we'll be taking a short break to network. Back at 2pm with live updates
  • 13:32
    Our first video from Dublin Web Summit is now on YouTube http://bit.ly/s11dIy An interview with Colm Lyon of Realex. More to follow
  • 14:08
    Now at the press conference in the Shelbourne with Founders of Angry Birds (Mikael Hed), Skype (Niklas Zennstrom), Bebo (Michael Birch), LinkedIn (Erik Ly), and Qunar (Fritz Demiopolus).
  • 14:17
    Niklas Zennstrom says a good team and a product that scales are what he looks for in a company. Angry Birds maker Rovio a good example of that
  • 14:46
    Ben Parr from the tech blog Mashable is on stage with his usual full on style of presentation
  • 14:47
    Most entrepreneurs don't realuse that their idea sucks. Even good marketing does not make a bad idea a good one - Ben Parr
  • 14:48
    "You aren't Steve Jobs" - you have to talk to users and make sure your product solves a problem they are having. Jobs famously didn't do market research
  • 14:50
    Better to learn your product sucks early on than later - Ben Parr
  • 14:51
    You need to hire the right people. Venture capitalists invest in the people you are bringing on board. He says Spotify would not have got the investment it did without Sean Parker (Napster founder and early Facebook president).
  • 14:52
    Reasons start-ups go to Silicon Valley because there is no replacement from walking into a cafe and bumping into an investor or partner. It's the same reason New York is so good for media
  • 14:55
    Entrpreneurs need to be flexible. You have to listen to outside feedback and be willing to change. Every great company and idea evolves. If you don't adapt you die.
  • 15:20
    The Spark of Genius start-up competition is about to begin - some serious prizes on offer including a €100,000 investment term sheet from ACT Venture Capital and €40,000 in services. 100 companies entered the ESB Electric Ireland sponsored competition
  • 15:20
    Serious panel of judges including Bebo founder Michael Birch and Dave McClure of 500 StartUps
  • 15:21
    Redeem & Get's Gene Murphy is up first, They help companies handle the daily deals they run with Groupon, Living Social etc.
  • 15:23
    Lot of small businesses abandoned daily deals because they weren't set up to handle the influx of business they got from the sites
  • 15:24
    Gene says Redeem & Get has been described as the "Tweetdeck of daily deals". Now he's being questioned by the panel. Mike Butcher of Techcrunch asks him who the competitors are
  • 15:25
    Redeem & Get are looking for €500,000 to build out the service.
  • 15:27
    Boxpay are on stage now. Using mobile phones to pay for things online and they think it's better than credit cards
  • 15:28
    People are selling things for lower value online now - micro-payments - less than €20 or $25. Apps and other digital content driving this. Credit cards not ideal for these kind of payments.
  • 15:29
    Boxpay are in 35 countries and have done deals with 200 operators around the world. 4 billion mobile phones in the world, only about 2 billion credit cards
  • 15:31
    Michael Birch likes the idea but wonders is it defensible and asks do they have a patent. They don't
  • 15:32
    Mike Butcher says they should include more about their team and their experience when they pitch again
  • 15:32
    Vocalytics, founded by a couple of ex Google engineers, are presenting now
  • 15:33
    They are developing mobile apps to help people use their voice better. Compares it to Runkeeper or Nike apps which help you train for a marathon. Vocalytics prepares you for your next meeting or presentation so you speak better
  • 15:36
    Ben says he wants to empower people to get a job, a boyfriend or girlfriend, anything that you use your voice for
  • 15:37
    Vocalytics feel research is very important and have partnered with a research centre in UCD
  • 15:38
    Dave McClure, in rather colourful language, advises Ben of Vocalytics to talk up his Google background
  • 15:40
    Next company to present is Vigill. Co-founder Barry Nolan says 97 per cent of mobile apps are abandoned in the first month becuase they lack interaction
  • 15:41
    All the information that companies need to interact with their customers is locked up in their enterprise systems. Vigill has a cloud platform to use that data to proivide a better customer experience
  • 15:42
    Example: A concierge service based around travel. Get a notification when you arrive at the airport with flight no, details if on time, ability to buy WiFi - just click message to buy
  • 15:42
    Second example - your credit cards get blocked when you travel overseas. Send a message from your mobile banking app to make sure you are overseas. Frees up call centre time
  • 15:43
    Full house here for the Spark of Genius competition. Impressive group of Irish start-ups presenting
  • 15:45
    Big cheer for Barry when he shows how his service can be used to see where your kids are spending with their credit card!
  • 15:49
    Hit the Road are next. A service to help you plan journeys on public transport
  • 15:58
    Group chat now being hosted by Mike Butcher with Michael Birch (Bebo), Dave McClure (500 Startups) and Geoff Ralston (Rocketmail)
  • 16:00
    Discussion about different ways to incubate start-ups and how to incentivise staff.
  • 16:03
    Ralston says not a bubble in tech start-ups just a large amount of capital chasing a small amount of good ideas and that's driving up prices.
  • 16:37
    Amazon CTO Werner Vogels on stage talking about how the online retailer also became one of the world's biggest providers of cloud computing to other companies
  • 16:39
    Just had a great conversation with Ethan Beard of Facebook about the recent changes to the service. He says the Facebook profile is the first 5 minutes of conversation you would have with someone you meet, but Timeline is the things you would discover in the next 5 hours
  • 16:40
    Vogels says CTOs will still be needed even if everyone moves their technology to the cloud
  • 16:41
    His role as a CTO is deeply engaging with customers - in Amazon Web Services, deliver basic services and then rapidly evolve them according to what customers tell them
  • 16:46
    Host Ben Rooney is asking Werner about Amazon Web Services recent outage which was due to a problem in Ireland
  • 16:46
    Werner says they provided in "great detail" a post-mortem of what happened, It was unacceptable.
  • 16:48
    He says the tools are there for customers to mitigate against disasters. Admits Amazon provides them but maybe haven't done a good enough job educating customers on them
  • 16:49
    Games the focus now. Mikael Hed, Rovio and Angry Birds and John Vechey of Popcap Games
  • 16:49
    John Vechey has a dark secret - he's a hurler in Seattle
  • 16:50
    Vechey would come to the Irish office and when he was here started betting on hurling matches. Has now been playing in the US for the last four years
  • 16:50
    There's over 400 million downloads of Angry Birds now - Mikael Hed.
  • 16:52
    Vechey - most important lesson is keep at it. Key to start-up success
  • 16:52
    Hed - we polished Angry Birds to "a ridiculous extent". You only get one shot at releasing a product.
  • 16:53
    Hed: we made mistakes - game before Angry Birds, was rushed out to see how it would perform. It bombed.
  • 16:54
    Every failure a learning opportunity and you can tweak the way you work in the future - Hed
  • 16:55
    As an entrepreneur you will make mistakes. Have to recognise them early and learn from them - Vechey
  • 16:57
    New video now onlien. David Shing of AOL on where the internet and mobile is going http://youtu.be/WchuMJq0JGI
  • 16:58
    Vechey - digital is the future rather than social or mobile. Gives you a relationship with your customer. That's why he sold to EA; they were shifting their legacy business to digital
  • 16:59
    Interesting games company combines the art and business of making games. That's the kind of company Mikael Hed would like to invest in.
  • 17:24
    Liam Casey of PCH International on stage sharing his war stories of starting up his company. Including having to give his passport to a Chinese supplier so they would release an order to one of his customers. The deadline was looming and the production line of a Scottish computer factory was going to come to a halt if Casey didn't get the product. His passport stayed in a safe in China until he delivered the money. "That gives you an idea of the risks involved in doing a startup".
  • 17:51
    The live blog is taking a break for the night so I can write some stories for the newspaper. We'll be back in the morning for more of the Dublin Web Summit
  • 09:55
    The Dublin Web Summit is live at the RDS again this morning. Alex Ljung of Soundcloud and Jens Begeman of Wooga on stage for a panel discussion on Europe's hottest start-ups
  • 09:58
    Wooga develops social games. It's titles include Magic Land, Diamond Dash and Monster World. Jens says Facebook needs the games developers as much as the developers need Facebook. He says as much as 40 per cent of minutes on Faceboook may be sent playing games. Wooga also does Google+ games but Jens says its too early to say if its going to be a successful sevice
  • 10:00
    Soundcloud allows musicians and others to upload sound files and share them. Alex says Souncloud users are very engaged with the service. He thinks its because they are creating content on there.
  • 10:01
    Eric Ly, one of the founders of the business social network LinkedIn is on stage next. His latest venture is Presdo, an event planning service. He's talking about how LinkedIn started
  • 10:03
    Eric says 2002, in the wake of the dot com implosion, was a great time to start a company in Silicon Valley. Entrepreneurs were looking glum and the investors were planning lots of golf. Eric says they were inspired by early social network Friendster and the very un-PC Hot or Not site!
  • 10:06
    Eric left LinkedIn four years ago. As well as running Presdo he's an angel investor. He suggests its a natural thing to do in the Valley because you meet so many entrepreneurs looking for advice and funding. One of his investments GoodRec was acquired by Groupon to be its mobile arm.
  • 10:09
    Eric is talking about Presdo, his post-LinkedIn venture. He says its about bringing information about people online to the real world to help them have more effective interactions. "It's working out well. We decided not to go out the first day and raise financing," explains Eric. They make money by charging event organisers. "it's quite a boring business model, but it works"
  • 10:13
    Eric is happy to invest in companies outside Silicon Valley. He travels so much in Europe and the US he comes in contact with a lot of start-ups. He wants entrepreneurs he backs to have a passion for what they do. "Not about the potential return but are they passionate about solving a problem." Secondly he asks himself is the service useful; could he see hiimself using it.
  • 10:26
    Irish entrepreneurs panel now, Anne Heraty of tech recruiters CPL says she founded her company because she was passionate about people's careers and wanted to specialise in technology recruiting. Her boss at the time didn't think there was enough business in technology so she left and founded CPL.
  • 10:30
    Brian Conlon of Newry-based First Derivatives, which now employs over 700 staff, started writing software while working on a derivatives trading desk at Morgan Stanley. He was frustrated at how long it took developers to write software because they didn't understand the business. First Derivatives succeeded because it was nimble and flexible enough to win business against bigger competitors.
  • 10:32
    Iain MCDonald, founder of broadband provider Perlico which he sold to Vodafone, is talking about what inspired him to found his latest company Skillpages. He mentions the p word again - passion. Says its a pre-requisite to run a high growth company.
  • 12:14
    Just back from the F.ounders conference which is taking place at the Mansion House today and tomorrow. I moderated a panel on the Irish technology scene with Barry O'Leary (IDA Ireland), Frank Ryan (Enterprise Ireland), Chris Horn (Iona co-founder and angel investor) and Brian Caulfield (VC with DFJ Espirit)
  • 12:17
    About 150 tech company founders are at the Dublin Web Summit's invite-only conference. Despite founding companies like YouTube, LinkedIn etc. they are still all in awe that Bono turned up at their dinner last night - I told them it's a common occurence in Dublin...
  • 12:19
    Back at the Summit the Future of News conference is taking place. Nick Bilton of the New York TImes is talking about how reporting has changed. If he's interviewing Bill Gates now he doesn't just write it for the paper. He tweets about it and asks people do they have any questions for him
  • 12:20
    Nick Bell of News International says the quality of the Times on an iPad and the resources needed to prodiuce it are essential.
  • 12:22
    At F.ounders Chris Horn and Brian Caulfield were very upbeat about the local start-up scene. Both said it has never been as vibrant. Barry O'Leary and Frank Ryan both talked about the role of their agencies has changed. The IDA is working with earlier stage companies while Enterprise Ireland is now investing smaller sums of money in companies so they can quickly develop products and see if they have traction.
  • 12:23
    NIck Bilton says news stories are now living, breathing things that evolve. No longer about the rectangle on paper that is not revised.
  • 12:29
    Question from the floor to Mark Little - how does he plan to make money and pay journalists? He says Storyful is a news agency and points out that reporters are less often the content creators these days. In the same way that people pay for purified water they will pay for news that has been moderated by a team of editors.
  • 12:33
    Now Chris Poole of 4Chan (the message board that spawned hacker group anonymous and Rickrolling) is being interviewed on stage by Techcrunch columnist MG Siegler
  • 12:36
    Chris founded 4Chan as a teenager without telling his parents or teachers. It's now 8 years old and has grown organically. He's now started Canv.as an image-focused message board.
  • 12:39
    Chris, once named as one of the most influential people in the world by TIme magazine, is talking about the differences between running an anarchic message board versus a proper start-up. He says his angel investors have been hugely helpful
  • 12:40
    Chris Poole says Google had the chance to innovate with Google+ and "right a lot of Facebook's wrongs" but instead it is competing with the social network on its own turf.
  • 12:47
    Having discussed the future of news now we are on to the future of money. Panel features Errol Damelin of Wonga, John Lunn of Paypal, Colm Lyon of Realex Payments, and Ben Milne of Dwolla.
  • 12:49
    John Lunn - banks are their own worst enemies. In the US they are doing things like charging to use your debit card or take money out of your account.
  • 12:50
    Errol, whose firm provides short term cash advances, says banks are in a challenging position but they have cultural problems - they don't believe in transparency. They don't see any value in being clear and direct with their customers.
  • 12:52
    Colm Lyon - banks are not coming out with the payments systems that people want is because the margins are not there for them to make a profit on them. As a consumer Colm wants to be able transfer money to the person sitting beside him using his mobile but the banks will never introduce that
  • 12:55
    Cash is a massive problem for everyone. Too high costs associated with using it, handling it and producting it - it's even bad for the environment - John Lunn of Paypal
  • 14:03
    Livestream founder on stage. The video site is announcing a site overhaul and also that it will be broadcasting the Volvo Ocean Race live.
  • 14:09
    Livestream CEO is of course live streaming his presentation http://new.livestream.com/dws
  • 14:18
    WPP Digital's Mark Read talking about the advertising agency has made the transition to the online world
  • 14:21
    Read says Facebook is still at the stage where brands focusing on how many "likes" they have - but more important is the enagement and whether people return to the page. Man Utd can get 3,000 comments when it posts on the social network
  • 14:24
    WPP now invests in tech start-ups that it thinks have good ideas that it can bring to its clients. Doesn't make money but strategically important. Interesting move by an ad agency
  • 14:52
    Dublin Web Summit just had a brief masterclass in marketing& PR from Marcy Simon, Burston Marstellar and Noel Toolan, the Irish brand consultant. Toolan said Ireland Inc is sending out the right message post financial meltdown. We have acknowledged our problems, put solutions in place and are being positive. Unlike the Greeks, who Toolan acknowledged have worse problems, but are being very defensive and not moving on.
  • 14:55
    John O'Farrell venture capitalist with Andreessen Horowitz, the hot fund in Silicon Valley, gets a cheer for saying he's a Dublin native and glad to be back home. He says they are trying to create the type of firm they would have liked to invest in them when they were raising money and growing companies, All the partners are former entrepreneurs which he says is important
  • 14:59
    Mike Maples, Maples Investments, says he is most proud of the companies where he "was facing death" and decided to go all in. "It's better to burn out than fade away". Happened with his first seed investment fund with a textbook rental company. Every startup has multiple near death experiences. Investors have to be there for them when the chips are down.
  • 15:02
    Fred Destin of Atlas Ventures says he is on a mission to kill banks with his investments. Inevitably gets a huge cheer from the audience for that one
  • 15:05
    Up next on the mainstage is 'Crisis? Women in Tech'. Why are there so few female company founders
  • 15:07
    Panel includes Demet Mutlu, founder of Trendyol, the biggest e-commerce play in Turkey, who has an impressive start-up CV. She says the secret is loving what you do
  • 15:10
    We've done what we've done not by thinking of ourselves as women first. The "woman factor" is totally irrelevant says Eileen Burbridge of White Bear Yard, a London-based startup incubator and investor
  • 15:12
    Being successful and having a happy family life doesn't have to be a zero sum game says Demet Mutlu. You can do both.
  • 15:17
    Biology and cultural norms about who should be the care giver in a family are the biggest issue for women in business who want to have a family says Eileen Burbridge. She personally had children later in life when her work situation was able to support it. She nursed the kids in the office - and admits to having done it in board meetings. "I couldn't have done that if I was working for someone else"
  • 15:24
    Xochi Birch, co-founder of Bebo with her husband Michael, says the only time she encountered discrimination was from a VC who refused to back Bebo because he had a policy of not investing in husband and wife teams. His loss: it ultimately sold to AOL for $850 million and Barry Maloney's Balderton Capital did very nicely out of it
  • 15:43
    Coffee break now but when the conference resumes its the countdown to the announcement of the winner of the Spark of Genius prize for start-ups. Very nice €140,000 prize on offer
  • 15:52
    Connor Murphy, Data Hug and Alan Coleman of Britebill, the winners of the Spark of Genius for the last two years are on stage talking about their experiences as start-ups, Mike Butcher of Techcrunch very complimentary to Connor whose firm just closed a €1.5 million investment which includes Ron Conway, the legendary Silicon Valley investor.
  • 15:54
    Alan Coleman explaining how BriteBill has partnered with Accenture to help it get into postal services around the world. It's tech is now on trial with two of largest postal services in the world
  • 15:57
    Connor saying there is a great buzz around the Irish start-up scene, but on the downside that means getting harder to get technical staff. On the flipside Dublin is a fun city and so easy to attract talent from overseas
  • 15:57
    Alan Coleman - capital will come to where the good companies are.
  • 15:59
    Here's the Oscars moment - Paddy Cosgrave on stage to announce the winner of the ESB Electric Ireland Spark of Genius competition, Did I say the prize is worth €140,000?
  • 16:03
    The winner of the Spark of Genius is Redeem & Get
  • 16:04
    The winners also got this rather fetching trophy
    The winners also got this rather fetching trophy
  • 16:08
    Niklas Zennstrom, arguably Europe's most successful tech entrepreneur, having founded and sold Skype, bought it back and sold it again, is now on stage being interviewd by MG Siegler of Techcrunch
  • 16:11
    Zennstrom is asked about Netflix, the online video rental company, whose market cap has fallen from $15 billion to $4 billion last 3 weeks. Says its a difficult business as you have to do deals with rights holders who are under pressure and are not always acting rationally.
  • 16:13
    Zennstrom's investment fund Atomico has done over 50 investments in tech firms now. HQ in London but offices in Brazil and China as well. Companies are global now so investors have to be as well, says Zennstrom.
  • 16:14
    Quality of technology companies being founded in Europe is getting better and better says Zennstrom. But software companies are being priced a little high, he says.
  • 16:16
    Zennstrom says Europe not a single jurisdiction. Some countries extremely start-up friendly. If you are in Ireland no reason to re-locate. One of the best jurisdictions in the world for companies to set-up.
  • 16:21
    Zennstrom, despite being massively wealthy and part of the "one per cent", understands why people are getting involved in the Occupy movement
  • 16:40
    And that's it. Paddy Cosgrave has brought the Dublin Web Summit to a close although Founders continues tomorrow. The tech entrepreneurs at that event are on the way to the Aras to meet President Mary McAleese inone of her last official engagements. The Web Summit will be back in October 2012