MINUTES BIZ DEV MEETING 1st Dec 2004
Aladin, Michela Ledwidge, Phil Chang
AGENDA
1) Status
Approaching next milestone (Film Pre-Production). Two heads of department appointed (Art, Visual Effects).
ML suggested that recent developments suggest that the original plan, to consider Sanctuary the first official product demo, could be reviewed in light of "simpler" product potential emerging. This may not derail the overall plan and final demo experience but allow other demos to be created earlier.
PC suggested that there are in fact two businesses within MOD Films which can ideally bootstrap each other - a project-based production company and a technology company.
Aladin pointed out three key elements of the project to keep focus on
2) Leads
Movieaudit (William Latham) looking for database to hold film data "hoovered" from a production. ML was approached to do this. ML has told Movieaudit that MOD Films will have a product to license early 2005 and would be able to quote from being given a vertical slice of film data (all asset types). ML feels we should have a demonstrable tool for data asset mining mid-Jan.
The Movieaudit discussions identified three key questions for the business
Q) What are the most pressing commercial needs for re-use of old production assets? Q) What is the best way to demonstrate re-use value to existing asset IP holders? Q) What is the right price point for asset IP holders?
National Computing Centre keen to on Manchester Whispers proposal for Manchester Broadband Fund.
Grant Dean (in advisory team) has put forward lead for mobile development.
Aladin has a contact from Tiger Aspect Productions interested in this area.
Next steps
3.1 PC to start work on business plan for 2nd round funding. First stage of this will be to prepare short-form plan (approx 5 pages) to be ready end of December for NESTA and Team review.
3.2 ML to continue progressing the film and demo as planned.
3.3 PC and WL to discuss the provision of feature film sample data to the company for testing.
3.4 PC and A to put together a "pragmatic" group of advisors (a subset of the team) to guide ML on business development and come back to ML with a name. ML to then appoint someone to head that group.
3.5 ML to submit Mancunian Whispers proposal for Monday 6th
3.6 Plan for expanding modfilms.com web site with materials that explain the concept clearly "Dummies guide" including video of Science Museum pitch (need to check permission with NESTA).
3.7 PC to help ML set up equity deal structure - deadline, end of Dec.
Posted by .M. at December 2, 2004 01:10 PM