David Blumenstein, a co-founder and Managing Director of The Hatchery, recently sat down with me at SAP's Morton St. office in New York to share his thoughts on the current economic environment for startups and new businesses. The Hatchery, in David's words, is "an exercise in venture collaboration." Their goal is to connect startups with global funding sources by hosting events at which companies present to invite-only audiences of VCs, private equity firms and the like, while being grilled on their business by a panel. If the presenters don't simply expire from the sheer pressure of this "trial by fire," they may then be matched with a funding partner.

In response to my question regarding the current economic environment, David proclaims that "it's always a great time to be a startup." But don't mistake his enthusiasm for overconfidence - he follows this statement by advising entrepreneurs not to "quit your day job." Only a secure revenue stream will keep startups afloat in 2009, no matter how many great ideas they have. Watch the clip for more of David's advice: