Business Week To Launch VC Video Competition
Mediaweek, Tuesday, May 29, 2007 11 AM
The well-respected business magazine is mulling the idea of a "business YouTube" that would allow would-be moguls to pitch ideas to the paper's readers, who would vote on a winner to receive $500,000 in venture-capital funding. Speaking at a conference in Miami, John Byrne, the acting editor-in-chief for Businessweek.com, said the company was looking to purchase a new technology platform to help create the interactive competition.
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Byrne said the idea behind the move is to both widen the site's audience and boost repeat visits among existing users. Like a reality show, the idea's success hinges on quality production and editing. It simply won't do having camera-shy tech geeks outline their ideas in a monotone. Most likely, this kind of project would require a host, and filtering out the particularly bad stuff. Otherwise, you may only get a few VCs-which are a small portion of the BW audience--to watch. Make no mistake, this is content, which means it has to be solid to fly, or advertisers won't care.
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