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Column From idea to reality, the story of a young Irish start-up

Gary Fox took a business idea from college classroom to young company. Here he describes how he did it.

IN JUST SIX months I went from kicking around a business idea in a classroom in Dublin City University to pitching the idea to a room of over 200 investors, entrepreneurs and industry experts from Ireland, UK and Europe. Here’s how I did it and how you can too.

Starting your own business in Ireland has never been more accessible. Suddenly being an entrepreneur is sexy thanks to Dragons’ Den and the Apprentice. Barriers to entry have dropped dramatically and as more and more people find themselves unemployed, the opportunity is there to take the leap and create your own job. Why wait for a job? Go out and create your own.

What do I need?

First and foremost you need an idea. Something you are passionate about and believe can really make a difference and be successful. While the idea is important, the real key factor is the entrepreneur and the team behind the idea. Find people who share your passion and who won’t shy away at the first suggestion of working over the weekend. Tensions will flare in the high-pressure environment of business start-ups, so treat it like a marriage. Be sure they are right for you and the business otherwise it’s going to be a messy and costly divorce.

If you watched the Social Network or read the headlines of multi-billion dollar valuations of Facebook you would imagine starting a tech company is the quickest and sexiest way to become a millionaire almost overnight. In truth, its endless days of hard work, staring at a whiteboard seeking a solution to a technical problem, juggling finances and trying to figure out how to make the elevator pitch sound interesting after you’ve delivered it a thousand times. But not for one second would I swap it for a traditional 9-to-5 and a secure pay check on a Friday.

Where do I get my idea?

All three founders are graduates of the Masters in eCommerce course in DCU so naturally our background in tech led us in that direction. Jennifer Murphy from Dublin is the technical lead and John Walsh from Mayo is head of business development. If possible, try to work in an area you have knowledge of or at least have a burning passion for. Putting in 80 hours a week is much easier if you really have a love for the idea.

The raw idea for VideoScamp was created during our final masters project and we began commercialisation after securing a shared office space in the DCU Invent Centre for three months. Finding somewhere to work is key as sitting at your kitchen table will offer too many distractions and being in a shared spare offers new connections and opportunities with other entrepreneurs.

As much of a genius as you think you are, all ideas are going to need that little bit of luck. Ours came early one morning in August 2012. Less than three months after starting work on the company and just two weeks before we presented our idea to college examiners, we secured a place in the best accelerator programme for young tech companies in Ireland.

You don’t know everything

The more you begin to learn, the more you will realise that you have so much to learn. Our team is relatively small and we are all first time tech entrepreneurs so it was crucial for us to get outside help. Securing a spot on the NDRC Launchpad programme ensured we got three months’ intensive mentoring from some of Ireland’s leading experts in the areas of PR; from Paul Hayes of BeachHut PR, Harry Largey for commercialisation, finance mentor Johnny Harte and Nicola Riordan in marketing. Twitter and LinkedIn will give you access to anyone you wish to seek advice from.

Through Twitter alone, I’ve secured meetings with company CEOs and industry experts who will gladly spare you 30 minutes for a cup of coffee if you approach them correctly. A little bit of flattery and ego stroking never did any harm either. They are successful people, but they still like to be told how brilliant they are.

Alternatively meet-up events are the ideal place to learn from other entrepreneurs and experts; check out Startup Digest for a list of upcoming tech events in Dublin. Notable events include Dublin Beta and Pub Standards.

Talking to experienced entrepreneurs can avoid costly mistakes and offer much needed external perspective. Every entrepreneur believes their idea is going to change the world and make millions but this passion can often blind you from seeing obvious flaws or roadblocks ahead.

If it’s good enough for Google

The Irish tech scene is gaining international recognition. In September 2012 Fortune Magazine named Dublin as one of the best new global cities for start-ups.

Right now there’s arguably no better place in Europe to start you own business, especially in the tech sector. The leading tech companies from all over the globe are located right here in Dublin. Google, Facebook, LinkedIn and Twitter have all chosen Dublin as their European base. With Ireland now recognised as a good place to do business, largely because of favourable corporate tax rates, it means easy access for entrepreneurs to some of the world’s leading industry figures.

The ecosystem surrounding startups is booming. Tech accelerators such as the programme we took part in, NDRC Launchpad, along with DCU Ryan Academy’s Propeller programme and the newly established StartupBootCamp Health XL and Wayra Ireland (backed by O2 Telefonica) offer the perfect starting place for young tech startups.

Money

The source of most sleepless nights are “what if” scenarios for potential entrepreneurs. There is never going to be a perfect time so use the lack of certainty as a motivator as you have less to lose.

With bank lending at an all time low, entrepreneurs must get creative to secure investment for their business. Securing a spot on an accelerator programme will net you roughly €20,000 funding and give you a runway of six months to get your business up and running. Enterprise Ireland also offer a number of excellent supports including the Competitive Start Fund worth €50,000 and Innovation Vouchers which will partner you with a university for research projects worth €5000. Angel investors are another source of investment but they are unlikely to take a gamble on an unproven idea so you will need to at least have the product to market.

Read: Small and medium businesses could* deliver 20,000 jobs>

Read: 4 stupidly simple but successful new inventions>

Gary is co-founder of VideoScamp, a young Irish tech start-up based in the NDRC Launchpad programme in the Digital Hub, Dublin. VideoScamp is the first video content marketplace exclusively for online retailers. You can follow Gary on Twitter @garethfox, add him on LinkedIn, or email him at gary@videoscamp.com or visit www.videoscamp.com.

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    Mute David
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    Jan 19th 2013, 11:02 PM

    My favourite part of this article is that if you can’t get a job, make one for yourself. That’s the ‘get up and go’ attitude we need in Ireland. Say what you want about the government, they have made Ireland one of the most business friendly environments in the world.

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    Mute pog mo thoine
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    Jan 20th 2013, 12:50 AM

    It’s hear years just sign on the dole get the back to work scheme.dream up a job scribble down a few figures (showing decent profit)2yrs payment continued and you can make as much in that time tax free

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    Mute pog mo thoine
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    Jan 20th 2013, 1:57 AM

    3red thumbs for telling the truth..I honestly didn’t think people were such dumb asses I’m comming to the conclusion the government are right in punishment for the futile

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    Mute Colm Flaherty
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    Jan 20th 2013, 8:19 AM

    Truth? Yeah, sure it is….

    At least the rest of us have the balls to put our real names to our comments.

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    Mute Gary Fox
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    Jan 20th 2013, 1:39 PM

    Hi David,
    A good attitude is possibly the single most important factor when starting a business. It impacts every aspect of your business and how you deal with people. There will always be people who are happy to sit on the sidelines and knock people who try create something new. As I said barriers and costs of starting a new business have dropped to the level that they are no longer a valid reason for not having a go. Thanks for reading.

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    Mute pog mo thoine
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    Jan 20th 2013, 2:03 PM

    @colm.and I know your account is real because it gas a name….? And a picture that couldn’t be copy and paste..

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    Mute Chris Noonan
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    Jan 19th 2013, 9:24 PM

    really not much information on what the idea or company actually is, what’s the advantage of using their service over YouTube?

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    Mute SMcB
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    Jan 19th 2013, 11:51 PM

    I’m equally confused… Sounds like analytics for YouTube (which already exists). I’d need to know more…

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    Mute Gary Fox
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    Jan 20th 2013, 1:26 PM

    Hi Chris,
    Thanks for feedback. We are a video content marketplace where ecommerce retailers can buy videos for their site or commission new content that will be exclusive to them. It is similar in style to the Getty Images concept except for product videos.
    In comparison to YouTube, our videos are privately hosted so retailers do not have to worry about adverts or competitors videos appearing on their site.
    In addition, retailers can commission videos that will be created exclusively for their product/brand/service. Hence its not generic content that anyone else can use, in contrast to YouTube.

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    Mute Alan Forbes
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    Jan 19th 2013, 8:17 PM

    May I ask of your genuine experience with EI? I have personal experience with them which leaves an awful lot to be desired!!

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    Mute pog mo thoine
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    Jan 20th 2013, 12:27 AM

    Terrible..I don’t agree with “flattery and ego stroking” to potential investors/partners most will shy away from a Brown nose and go for the no bull sh1t

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    Mute Gary Fox
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    Jan 20th 2013, 1:29 PM

    Hi Alan,

    So far, we have had very positive experiences with EI. We are currently engaged with the Innovation Voucher process and its run very well so far. Drop me a mail and we can discuss further.

    Thanks
    Gary

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    Mute Neil Jackman
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    Jan 19th 2013, 10:22 PM

    Good article! From my own experience launching Abarta Audioguides back at the end of June I think the main qualities that you need as an entrepreneur are patience and persistence! When you get your company going you think the business will absolutely fly, It’s so easy to become discouraged when you find it takes an awful lot of hard work just to get noticed.
    You just have to keep chipping away at the different social networks, keep ringing people and keep positive. Easier said than done, but like the author I wouldn’t swap the ups and downs of trying my own business for a steadier nine to five, I think I would have always regretted not giving it a try – so if you have a good idea that you are passionate about, give it a go!

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    Mute Gary Fox
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    Jan 20th 2013, 1:32 PM

    Hi Neil,

    Glad you enjoyed it. I tried to balance the positives of staring your own business with the harsh realities. I wanted the overall tone of the article to be upbeat. Theres enough negativity surrounding business in Ireland at the moment.
    Echo your sentiments of hard work and patience. Its a very great feeling to think you are creating something from nothing.
    Drop me a mail or add me on LinkedIn and we can grab a coffee.

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    Mute Marc
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    Jan 20th 2013, 6:22 AM

    There’s nothing on the website, hope this business works and that it’s not all waffle

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    Mute Gary Fox
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    Jan 20th 2013, 1:27 PM

    HI Marc, I hope the reply above has helped clear up what we do and thanks for reading.

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    Mute Marc
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    Jan 20th 2013, 3:33 PM

    I wish you good luck, I would have some more info on your landing page(f.a.q & about page) and/or a launch date, links to a Facebook page or a twitter account to like/follow as well as email signup.

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    Mute Gary Fox
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    Jan 21st 2013, 10:34 AM

    Thanks Mark,

    Excellent suggestions. We hope to have our full site live within the next 3 weeks and it will contain all that info. In the meantime will try add more info to the landing page.

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    Mute Ed O'Riordan
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    Jan 19th 2013, 10:34 PM

    Good article…good point on how twitter is a good mechanism for connecting with CEO’s etc

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    Mute Jennifer Murphy
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    Jan 19th 2013, 11:42 PM

    Indeed Mr. O’Riordan!

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    Mute pog mo thoine
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    Jan 20th 2013, 12:42 AM

    It lacks the main input to most business CASH so unless your going to do exactly the same as them there’s nothing to take from here

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    Mute David Kennedy
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    Jan 20th 2013, 9:35 AM

    Totally agree with you Ed. Established successful business people are a great source of information and guidance.

    When looking to change career a few years ago I was advised to seek out people in diverse areas of business I was considering and informally ask them for an insight into their careers. I was in the Middle East at the time and was lucky enough to secure time with the local market directors of Blue Chip companies like Kraft and Nike while also meeting with two very successful entrepreneurs and the person who had established one of the worlds largest Duty Free operations in the area. It was amazing to see how approachable these people are and how interested they were in imparting advice. Their advice has stuck with me and they remain points of contact to this day.

    Looking forward to hearing more of VideoScamps success in future. Best of luck to Gary and team.

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    Mute TalentCoop Norah B
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    Jan 20th 2013, 5:42 PM

    Gary – hope Videoscamp is a major success for you,it’s a great name and concept and know how much work you’ve put in.

    Frankly if success deservedly goes to talent, great attitude, hard work and being one the the nicest guys around, you’ll be a huge success! Ignore the naysayers, often those who will never get up and do it themselves. Guarantee there will be obstacles, highs and lows – just keep your goals in focus, find a way through – there’s no such word as can’t!.

    Every good wish to you – more of the same entrepreneurial spirit needed in Ireland.

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    Mute Gary Fox
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    Jan 21st 2013, 5:47 PM

    Evening Norah,
    Thank you so much for your extremely kind comments. Your attitude is an inspiration.
    Gary

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    Mute Gary Fox
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    Jan 20th 2013, 1:43 PM

    Hi Ed & David,

    Glad you enjoyed the article and really appreciate the support. It has really surprised me how open and willing people are with giving you advice and an hour of their time. Getting access to experienced people is without doubt shaped our business so far and helped us avoid some very costly mistakes.

    Thanks
    Gary

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    Mute Shauna McDaniel
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    Jan 23rd 2013, 8:35 AM

    Wait a go Gary, fair play to you and nicely worded article full of enthusiasm!! All I need is an idea and I’ll be there alongside you :-P

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    Mute Grainne O Reilly
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    Jan 22nd 2013, 1:54 PM

    Great stuff out of you Videoscamp! looking forward to full site launch!

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    Mute Anthony E. Byrne
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    Jan 22nd 2013, 12:59 PM

    Good article !

    The very best of luck with your business !

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    Mute Andy Perry
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    Sep 1st 2016, 8:59 PM

    Good day everybody my name is Nelson Mac am from Canada but few years back i was financially strained i rushed to my bank to apply for a loan to start up my business but i was denied by my bank because of my credit score and they could not help and due to my desperation i was scammed by several online lenders who promised to help me but at the end i was scam i lost my money and my hope because i was so frustrated, One day when i was going through the internet again i found one lender call Mr Larry Scott i thought to give it a try one more time to my biggest surprise he was able to lend me a secure loan totally the amount of $200,0000 for the first time in my life i realize that there are few lender who don’t scam people his name is Mr Larry Scott i will advice any body that are in need of loan to contact him with his Email (scottlarry816@gmail.com) he can be able to help you because he was a God sent to me this year and i will never forget him for the help he render to me.

    God bless him

    Nelson Mac

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    Mute Gary Fox
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    Jan 28th 2013, 12:58 PM

    Hi Anthony, Grainne, Johnny and Shauna, thanks for taking the time to read the article and hope you found it helpful..

    Johnny, it varies greatly from company to company but for us personally we were lucky to get on the Launchpad programme which provides you with €15k funding and €5k expenses. This had helped us in the early stages but following on from that we are exploring private investment and the various schemes run by Enterprise Ireland such as the Competitive Start Fund and Innovation vouchers. We are also funding a lot of it ourselves so its a mixture of savings and bootstrapping where possible.
    Hope this helps. Feel feel to drop me a mail gary@videoscamp.com to discuss further.

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    Mute Johnny O'Laddy
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    Jan 24th 2013, 4:32 PM

    Hi Gary,

    Great Article and a good insight into starup life with some decent advice. I wish you all the best for video scamp!

    Just wondering on a more practical level how you and other start up’s support yourselves at the formative stage of a business? Do the grants cover personal allowances or is it a matter of dipping into savings and buckling down?

    Cheers

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    Mute Glenn Baker
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    Feb 25th 2017, 5:15 PM

    My name is Glenn Baker and i live in USA Florida and i am a happy man today, I told my self that any Loan lender that could change my Life and that of my family, i will refer any person that is looking for loan to Them. If you are in need of loan and you are 100% sure to pay back the loan please contact them and please tell them that Glenn Baker referred you to them. scottlarry918@gmail.com

    Glenn Baker

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