Eleven businesses are up for the chance to receive an award of seed money (thanks to a two-year grant from the McCormick Tribune Foundation). It’s a wide range: hard news, hyperlocal, sports, personal finance, teen, green, culture, world news, even a magazine. They’ll each have five minutes to present the business and the jurors will have about seven minutes to ask questions and push and probe. Then we’ll retire to the jury room (wine, beer, humus, and kebabs to be served) and decide which businesses deserve seed money. The class requirement was that the students come up with a sustainable journalistic enterprise. At Clay Shirky’s suggestion, we’ll also judge them on innovation. But at the end, it’s all about risk: The jurors have a bit more than $45,000 available. They don’t need to grant any of it; it’s up to them. They will act as investors and put the money where it will have the best chance of succeeding.
The jurors are a stellar bunch, all very generous with their time and advice: Fred Wilson, VC; Joan Feeney, editor and a founder at Entertainment Weekly and CondeNet; Betsy Morgan, ex of CBSNews.com and now CEO of Huffington Post; Catherine Levene, COO of Daily Candy; Ed Sussman, head of digital at Fast Company and Inc.; Courtney Williams, an executive at Radio-One; Jim Willse, editor-in-chief of the Star-Ledger; Debbie Galant, founder of Baristanet; Rikki Tahta, founder of Covestor; Andy Weissman, VC, now of Betaworks; Clay Shirky of NYU’s ITP; Saul Hansell of the New York Times. Others who’ve spoken with the class and given them advice but couldn’t make today’s session: Steve Newhouse, Advance.net; Jim Kennedy, vp of strategy at the Associated Press; Marcel Reichart, vp of strategy at Burda; Craig Newmark of craigslist; Steven Johnson, founder of Outside.in; Dave Morgan, founder of Tacoda; Scott Meyer, CEO of About.com.
Only in New York could we have assembled such a cast of expertise in journalism, media, management, advertising, marketing, startups, and venture capital.
I’ll write about the class more after the jurying.