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I attended today’s 6th Web Summit at the RDS in Dublin.  Paddy Cograve continued his run of sell out conferences – this time with almost 1,000 attendees, on a Friday afternoon in Dublin.  I have now attended 3 of Paddy’s 6 web summits.

I think today was the weakest yet.

Sam Barnett was a weak kick off act – did not provide much insight until he explained how he avoided paying rent in his startup (his landlord was a criminal).  Eamon Leonard offered a fairly laboured comparison between rockbands and startup companies (not sure how Paddy found this so interesting). However Eamon’s delivery style and sense of humour kept people amused. Strange that Jennifer O’Connell should pitch thejournal.ie and then announce she is moving on (hardly the greatest pitch for any business).  Emi Gal (Brainient) was exellent – speaking of personalisation and relevance in video).

The coffee break appeared to be sans coffee – a bit Irish for the price people paid.

Tariq Krim (Jolicloud) and Marcus Segal (Zynga) were excellent.  Microsoft and Techcrunch presenters were not particularly inspiring.

And on the networking front – yes probably had the opportunity to catch up with 6 or 7 people and make one or two new contacts.  The pre and post gatherings offered ample opportunity to meet with various people.

So – will I attend future web summits?  I’m left a little cold after today’s – but to be fair there were a couple of thought provoking presentations and the general atmosphere was decidedly upbeat in comparison to much of what we see in Dublin these days.

Attended ‘KPMG’s Financing for Innovative Companies’ seminar this morning. Excellent panel of speakers. David Brabazon (CFO Azur Pharma) spoke from the real experience of building something with his two partners in five years. My real take there was their practical approach and their openness to different methods of financing business – through self investment, private equity, VC, wealthy individuals – whatever works in the context of requirements, vision and practical availability. Interesting model – generate commercial revenues before initiating R&D spend.

Niall Olden (Managing Partner Kernel Capital) spoke about many of the investments they have made in the last year in particular. Reminded us that the vast majorities of exits will be trade sales.

Anna Scally (partner KPMG) referenced the work of the Innovation Task force and empathised with some of the frustrations of the entrepreneur community in Ireland.

Barry Maloney (partner Balderton Capital) provided the international VC perspective. Reminded the audience of what they are seeking – and set the expectation for entrepreneurs of being in for a relatively long haul e.g. 7-8 years before any significant exit. Seeking those who want to be ‘rich, not famous’. More seriously, addressed (as did David Brabazon) the requirement for fit between the VC and the entrepreneur.

All in all excellent seminar hosted by KPMG – good contrast between perspective of the entrepreneur and the VCs (local and international).

…and no one pulled their punches – successful exits are the result of many things, but hard work (long hours, commitment to travel and drive) is the sine qua non.

Attended Paddy Cosgrave’s Web Summit last night in Dublin. Great turnout – about 500 people attended the event – held in the excellent new premises of the Chartered Accountants in Ireland.

Of course it was interesting to hear from those who founded Hostelworld, Bebo and Xing – amongst others. And there were a number of other interesting presentations – including the VC presenters. Even Mark Little reflecting on his first 6 months as an entrepreneur.

Ray Nolan was frank and to the point, a little irreverend and generally quite entertaining.

But did the audience learn much from the evening?

In some respects am left comparing the event with some of the Dublin Chamber of Commerce events – in which a bell rings and you are expected to talk to someone for 5 minutes about your business. I think this format could be used very effectively in the breakout sessions – in the sense that it would require each person to chat with 4/5 other entrepreneurs. In many respects I think these exchanges are more valuable than listening to presentations by those who have done it.

None of this is to knock the events. As Mark Mortell observed it is a very positive place to spend a number of hours – in the company of fellow entrepreneurs. Paddy has succeeded in attracting a number of interesting presenters from Ireland and overseas. WordPress, Craigslist and Realex at summit No. 1; Hostelworld, Bebo and Xing at summit No. 2.

Would recommend Summit No. 3 to anyone who has not attended to date.