We are coming closer to naming our first incubator partner and we continue to look for qualified and appropriate companies to work with. If you would like to submit your business idea for consideration, visit www.cpxincubator.com
On July 5th, 2012 CPX Interactive sponsored a roundtable event at Columbia University that was hosted by NYEBN (New York Entrepreneurs Business Network) a dynamic start-up and entrepreneur community group. The event titled, Start-Up Roundtable 14- Mastering the Kickstarter Game, was a panel discussion featuring successful campaigners from the innovative microfinance platform, Kickstarter.
As the event began, our own David Shay, EVP of Marketing was on hand to share with more information about the CPX Incubator initiative.
We recently sat down with our CEO and Founder, Mike Seiman, to hear more about his perspective on the CPX Incubator Intiative and wy it is so important to him.
Why did you decide to launch CPX Incubator?
CPX Incubator was launched as a reflection of the entrepreneurial spirit of our company with the purpose of filling a current gap in the online adverting technology landscape. While there has been a noticeable return of venture capital to the space, these investors remain wary to commit to very early stage start-ups, preferring to focus on initiatives that promise a faster exit with more clearly defined value. The truth is, however, that the world of online advertising is still very much in a ‘wild west’ period where value can spring up in seemingly random places. Our industry was built by entrepreneurs with little more than ideasand passion to create something useful. CPX Incubator exists to find those entrepreneurs and business models that may not yet be ready to compete for high profile VC dollars but, given an influx of resources and a nurturing environment, could be helped along to grow into ‘the next big thing.’
What are the criteria for CPX Incubator candidates?
We are seeking candidates who have built some amount of equity (not just a business plan) in a model that could compliment the online advertising ecosystem but needs a ‘safe place’ to become incubated and given the core elements necessary to flourish. While we are open to reviewing all submissions, we expect that the areas with the greatest synergy to what CPX Interactive is doing in the space are likely to come from the fields of social game/app development, inventory yield optimization, data/analytics, demand side platforms, mobile ad serving/optimization, social targeting/optimization, and rich media/dynamic creative development. The ideal candidate will have either a prototype or beta version in operation and be seeking support in the way of technology development, marketing, sales, legal assistance, ad serving and/or early personnel staffing.
What are the characteristics you look for in an entrepreneur? OR What do you think makes someone an entrepreneur?
As CPX Interactive will be making a considerable contribution of time and resources, we want to be confident in the entrepreneur’s commitment to seeing the project through to its logical end. Vision, dedication and flexibility are three key personality traits for any entrepreneur and will be necessary in a successful partner for the CPX Incubator initiative.
How can startups differentiate themselves in the crowded ad tech space?
The ad tech space is littered with business models that have moved quickly to service the ‘needs’ of a specific niche in the landscape. This myopic view of the ecosystem has, unfortunately, only lead to greater and greater fragmentation. CPX Interactive has maintained its position of serving the interests of both advertisers and publishers since its inception in the early 2000′s. Our view has always been that the best way for the industry to thrive is to create businesses that focus on delivering efficiencies for the entire landscape rather than focusing on the ‘good’ of a specific part of the industry. We believe that this focus also serves an entrepreneurial startup intending to make a lasting mark, as compared to one that is simply trying to make a big splash.
What value other than capital can you provide budding entrepreneurs?
CPX Interactive is prepared to provide access to every asset we have at our disposal with regard to our large operational facilities. We can offer resources such as strategic guidance, staffing, marketing, sales, legal, finance management, creative and tech development and more.
What kind of return are you expecting from the companies you will invest in?
The return we seek will vary with each initiative and will depend on the level of resources needed and requested. All of this will be clearly addressed in the early negotiations stages, but we also expect to take on a good deal of risk ourselves. Our return will be expressed as equity in the new company and will therefore provide us significant motivation to work for the ultimate success of any project we take on.