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Guardian Tech Media Invest 100: creative talent doing well despite the recession
Valerie | 07 Sep 2009, 20:16
SlicethePie, Playfish and Seatwave are just some of the companies to be featured in the Guardian Tech Media Invest 100, a list compiled for the first time of the top 100 players in today’s tech media space.
Picked for their innovation and creativity over the past year in areas as diverse as mobile applications, racing games and music recognition, the list of companies to watch indicates that despite the credit crunch, the UK entertainment and media market remains a hotbed of innovation, with growth expected again after 2010, according to PricewaterhouseCoopers, when the UK will be brought within $2bn (£1.2bn) of Europe’s largest entertainment and media market, Germany by 2013.
Unsurprisingly, of the trends that are expected to be big this year, social networking and microblogging are singled out to remain strong growth areas on the back of the success of Twitter. The report also highlights companies like Tweetmeme, a third party Twitter application and iDesktop.tv, which helps with searching and watching YouTube videos who are also finding success, riding on the waves generated by existing business models.
Of the investment climate, William Stevens, founder of Europe Unlimited, the business consultancy that organises the top 100, warns of both the difficult market and investment conditions but is nevertheless optimistic about the quality of international startups across Europe, “especially within industries such as tech media that have lower investment needs.“
Despite figures from the British Venture Capital Association showing that investments made by private equity and venture capital firms into UK technology and media companies generally fell from £2.8bn in 2007 to £265m in 2008, the companies listed in the Tech Media Invest 100 are clearly testament to the fact that an innovative idea can find support. Indeed, the overriding message appears to be “perseverance pays”.
Erik Jorgensen, an Intel Capital investment manager, and one of the board members said:
“For those companies with proven business models and very good prospects, it is not too difficult to raise venture financing”.
Great to hear this news, but remember, all this innovation will be lost if we don’t get ubiquitous broadband to everyone in digitalbritain! Other countries laying fibre to the home will streak ahead and leave us in the slow lane on copper - we need to move quickly to stay in the game.
By cyberdoyle on 2009 09 08
Great to hear this news, but remember, all this innovation will be lost if we don’t get ubiquitous broadband to everyone in digitalbritain! Other countries laying fibre to the home will streak ahead and leave us in the slow lane on copper - we need to move quickly to stay in the game. apple store locations
By Mike on 2009 12 22
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By Gucci Wallets on 2010 01 12
It’s good to see more people becoming gainfully employed. Until unemployment numbers become more favourable, the country’s bank probably won’t increase the overnight lending rate, meaning that mortgage rates will still be historically low for some time. While this is good for getting people into houses and encouraging consumer purchases, it is not that sustainable over the long term.
By Fred on 2010 02 03
raising money in a down market can be testing but those savvy entrepreneurs know that this is the best time for a startup. Especially in the didgital world like internet marketing. Those that fit the selection criteria should ahve a go I think.
By Dustin on 2010 02 17
Now that the economy is slowly picking up steam again, with mortgage rates stabilizing again, I expect the creativity to flourish even more. The tech media market should get competitive again!
By Sara on 2010 03 19