Dr Karen Nelson-Field, academic and founder of media innovation startup Media Intelligence Co. (MIC), is taking her joint venture partners Jemsoft to court over unpaid debts of $67,815.
Nelson-Field has filed court action after a statuary demand for payment in March was ignored. A hearing is scheduled for May 24.
Nelson-Field, while unable to discuss the court proceedings, assured AdNews that it's business as usual for MIC, and the research projects it is working on have not been derailed in any way.
Media Intelligence Co. remains operational, owns the IP being used for its reserch, and will not change going forward. At launch, it projected it would deliver revenue of $10 million in its first year.
Nelson-Field says the venture has hired all the tech experts and capabilities it needs to operate and will not be seeking another joint venture partner.
“Every startup has something, and this is ours. MIC is functioning, growing and doing well, [the court action] is just back-end stuff,” she says.
Nelson-Field partnered with Jemsoft founders Jordan Green and Emily Rich last year to launch the venture, which explores media measurement technologies and real-time media research solutions. It made use of Jemsoft's computer vision technology Monocular API. Jemsoft is understood to own 51% of the JV with Nelson-Field and her partners owning the rest of the business.
The company's aim is to use machine learning technology to make advertising more effective. A large portion of the work MIC has worked on has been with Mars. Nelson-Field is also working closely with ThinkTV.
AdNews was unable to contact the Jemsoft founders at the time of writing.
Nelson-Field, a Telstra Business Women’s Award winner and winner of News Corp’s Women in Innovation award, headlined the AdNews Media Summit last year. At this year's Media + Marketing Summit you can catch speakers including Google MD Jason Pellegrino, Visa marketing boss Jac Phillips and Mark Ritson. Tickets are on sale now.
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