Birth date: March 2, 1962
Birthplace: Brevard, NC (Transylvania County)
Title: Co-founder and CO-CEO, LaunchCenter 39
Last non-Net Job: Investment banker at Lehman Brothers

When it comes to Silicon Alley, Jim Butterworth is old school, part of the first generation of Alley entrepreneurs and one of the few members of that generation to leave a lucrative job in investment banking for a Net start-up. The start-up in question was Netcast Communications Corp., a pioneering Internet cybercasting company that was years ahead of its time in terms of its audio quality and business plan, which involved a fairly heavy dose of data profiling. Netcast had everything it needed to succeed but time. Although Netcast folded in the summer of 1997, Butterworth has remained an active player in Silicon Alley, advising start-up companies and hanging on to Netcast's patents. Late last year Butterworth took the wraps off his latest venture -- LaunchCenter 39 -- one of the new breed of Internet incubators springing up in Silicon Alley with investors and advisory board members like wired real estate baron Bill Rudin, DoubleClick President Kevin Ryan, and financial heavy hitters like Gene Podsiadlo, president of Warburg Pincus Funds.

Q: What was the spark that got you interested in the Internet?

BUTTERWORTH: In the early 90s I had been involved in quite a few investment banking deals for TCI, US WEST and other cable and telco companies that preached the virtues of interactive networks, 500 channels, yadda yadda yadda. The "eureka event," however, was when I studied multicasting and thought, "Hey, you can create a virtual cable company here and not have to build the infrastructure." That was in February 95 - I started Netcast the next day.

Q: When it comes to Silicon Alley, you're old school, part of the first gen of local entrepreneurs. How has Silicon Alley changed?

BUTTERWORTH: Wow, what a different world. Five or six years ago we had no choice but to head west to find money for our company, and getting folks to leave traditional New York City jobs was a complete non-starter. Now, money is everywhere and no one wants to work at an investment bank, law firm or consulting firm. Even scripts are out of fashion ... every waiter or waitress has a business plan! It's great, and it's only going to get better.

Q: New York's gone incubator crazy. What's so special about LaunchCenter 39?

BUTTERWORTH: LaunchCenter 39 was created in a top-down approach to solve a fundamental business problem: How best to turn a concept into a breakthrough company with the greatest prospect of success. Most startups don't need angel money or just office space, what they need is proper funding, strategic direction and help with execution. If you look at our team, from our employees and partners, to our board of advisors and investors, we can deliver these.

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Q: With the sudden explosion of broadband entertainment ventures, do you ever think to yourself that you were right about Netcast after all?

BUTTERWORTH: Well, I never have had any doubt about Netcast's strategy. When I first got my DSL at home that's the first thing I wanted! On one hand, it's gratifying to see various pieces of our business come to fruition - it's validation. Of course at times it's also frustrating, but the good news is that four or five years ago we patented so much of what's being done today. On balance, though, while the company was a little ahead of its time, I think everyone that worked there is very proud of what we did.

Q: Any words of caution from a serial entrepreneur to kids looking to start Internet companies today?

BUTTERWORTH: No words of caution but definitely words of advice. First of all, we live in remarkable times, so carpe diem - don't be afraid to fail as long as you learn. Secondly, if you have a passion, then don't let go; if there's a business model lurking in your idea stick with it until you figure it out. Thirdly, if you're lucky and do have a business model, find the right partners that can help you make it a success.