“Investors need to know that investing in entertainment businesses isn’t a mysterious black box”: ENTTeCH co-founder Mark McCormack
Melbourne-based ENTTeCH – “a collective dedicated to getting entertainment technologies onto the world stage” – holds a launch event on December 4 at the city’s ACMI X in Southbank.
The bank will feature ad agency, record label and film executives, YouTuber stars, venture capitalists, software developers, artist managers and theatre impresarios.
The idea of the meet is for the arts and entertainment industry to re-define its technological future.
Co-founder and MBA, Mark McCormack said, “Investors need to know that investing in entertainment businesses isn’t a mysterious black box.
“Real products, real customers, a massive global industry and of course very clever people.”
He added, “For budding entrepreneurs, artists or even management personnel in entertainment, there is much to be learned beyond the inspired idea.
“Many of them know how to say get say an event off the ground, however for serious growth, investors need financial forecasts, they need to know your plan for the risk, market entry strategies and a path to get their return back.”
McCormack spent a number of years in ad land and had a number of his own ventures.
These included a price comparison site he sold to an ASX listed company, and a mobile travel app that Flight Centre resold and used by Swinburne University to mining companies.
Sessions cover music in games to launching an app, to AI in music and films.
Involved in the summit are Creative Enterprises Australia, which is part of Queensland University, and game and coworking accelerator TheArcade.Melbourne.