A new employment program called Job Generation helps senior executives find jobs while simultaneously helping start-ups attract the talent that they need to make the big leap forward.
Online PR News – 10-March-2010 – – Job Generation: The country may have lost 8.4 million jobs but the iBreakfast and iEvening, NY’s longest running executive tech network have launched a new program that turns the start-up pitching concept on its head. Instead of entrepreneurs asking gray-haired executives for funding, those same executives are now asking the young kids for jobs – while profit-driven venture capitalists assist as matchmakers.
The first event takes place at CresaCenter on 100 Park Ave. on March 18 and features industry leaders like Stephen Brotman of Greenhill Ventures and Neal Bond of Deloitte Consulting and M.J. Segal of Joshua Capital.
The goals of this real-world exercise are to generate jobs and grow companies. The title of the show also alludes to the pressing need for two generations to come together if the US is to remain competitive globally. 2.1 million of these jobs have vaporized along with industries that once supported them. “If we are to kick–start this economy again, young entrepreneurs with great ideas have to be mashed up with senior executives with business experience,” say the event’s founders.
“This is not a gimmick or passing fad” says Job Generation creator and founder of the iBreakfast, Alan Brody, who saw this as a growing need for his executive audience. “Early-stage companies get the most money when they have great management. Investors don’t so much buy ideas, but rather, they buy teams of experienced business people who can execute on ideas.”
Too often, start-ups struggle along with mediocre management until that magic day when VCs insert top management to take the company to the next level – but many times, if the companies even get that far, it’s much too late for them anyway. One of the best examples of this is Google, which would most likely be nothing more than a couple of smart guys with a cool algorithm if it weren’t for the arrival of Eric Schmidt.
Job Generation accelerates this company-kickstarting process by giving senior executives an opportunity to showcase their talent while also giving start-ups a forum to get feedback from experienced business people.
“We see all kinds of job possibilities coming out of this,” says Brody who has developed this as a pilot for a new TV show with the same name, “from consulting to new-venture funding to creating full-time jobs. The real issue,” says Brody, “is not just that small businesses create jobs, but rather that savvy, well-connected small businesses create jobs.”
Job Generation’s creators have plans to produce this live event for most of New York’s major business schools as well as Showbiz Expo in NY and L.A.
“We also expect to put our TV show out there as a kind of ‘Shark Tank’ in reverse, where the kids, with their new ideas, have the power, and the seniors have to do the asking,” says Brody, who is working with industry veterans like Paul Borgese from The Associated Press, former Miramax editor Konrad Roman and Baywatch producer, Paul Siegel.
For over 14 years the iBreakfast has ushered in the Internet revolution to NY’s business community, helping transform traditional businesses into digital companies. Along the way, it has helped scores of companies in L.A., Boston, DC and San Francisco raise millions of dollars (Partsearch, JustBalls.com, Pond5.com are some examples).
But now, like the rest of the country, hundreds of thousands of those executives have found themselves out of work. “We have millionaire entrepreneurs and accomplished execs who have found the earth shifted from under them,” says iBreakfast founder, Alan Brody. “It’s not just in NY, but in all the cities where we have run iBreakfasts. And in many other parts of the world.”
NY is having an explosion of start-ups – in part because the cost of technology development is so low, and in part because lay-offs on Wall Street have “liberated” so much tech talent. But these new dynamics are not necessarily helping the veteran execs. It’s also not an ideal environment for start-ups since the economy has made it more difficult to raise capital and many entrepreneurs lack executive, sales or business development experience. The Job Generation Program addresses these issues.