Image cc-licensed from flickr
So, on Thursday, I attended Bournemouth Startup Meetup, organised by Luke Williams. I've been a regular attendee of these events since they started, and they've produced some interesting chatter and I've met some interesting people there. This week, it was a small turnout, but that helped us focus on an agenda. At barcamp bournemouth, Jon Markwell spoke about his impending idea for a Brighton based startup competition, so our discussion was focussed on how we could do something similar for Bournemouth and the rest of Dorset.
There was some very healthy and passionate debate about what shape a competition like this should take. The idea that Jon presented at barcamp, tentatively titled "BrightHack" focussed away from money and much more towards mentoring and providing a framework for people working towards startups in their spare time.
I've thought about this a bit. I think there is a lot of value in a competition like this, and I've been working towards start-up ideas in my spare time, too (twitfave being my most successful effort so far). However, there's really a need for a Y Combinator like entity in the UK, to enable people to take ideas to fruition full time.
The debate at startup meetup split along two lines, which I think was mostly determined by the situations of the parties involved in the debate. Those of us who have less long term commitments were a lot more interested in an event which required a full time commitment from the participants and gained a small amount of money from investors in order to pay living costs for the teams. The others were more interested in an event which provided no funding for the startups, but concentrated on forming part time teams and providing a prize at the end.
I was part of the former group, and so that's what I'm going to concentrate on talking about for the moment. That said, I think there's room for both of these things to happen, and they could share an awards event at the end of the projects.
Here's what I'd like - an event focussed around getting teams and ideas together followed by a three month period (supported by an angel investor or similar) of building these applications leading up to a competition based on the work done by the teams over the three months. At the end of the three months, hopefully, the competition will attract enough attention that the teams will attract further investment.
I think the teams should be built of :
- three people who work on the project full time, living and working in the same house
- an involved and interested investor
- mentors, available for advice for the team
The required investment for the living costs of three people is not a particularly large amount - lets make an assumption that in Bournemouth, you could support three people for three months for about £7,000. Even if you did this in Central London, I couldn't imagine it being more than twice that price. If the event got enough exposure, I could well imagine that one of the more startup friendly hosting companies could be persuaded to provide hosting for all of these projects in return for sponsoring the event.
Tom Harvey had the rather brilliant idea that if we hurried to make this happen, you could rent sections of a universities halls over the summer at a cheap price. This has the advantage of potentially putting all of the startup teams in one place.
I have a couple of ideas I'd love to work on if we could make something like this happen - who else would be interested in it ?