Business ‘angels’ a shining light in gloomy budget?

Start-up businesses and angel investors have been spared in the federal government's hefty budget cuts, with Labor committing $350 million in administered capital to its Venture Australia program and changes to tax concessions to encourage the participation of angel investors.

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Tourist supplies venture wins Startup Weekend

ArriveSupplied, which delivers items tourists need when they touch down in unfamiliar destinations, has beaten 11 other teams to the top prize at this year's Auckland Startup Weekend.

The team's e-commerce platform is initally targeting the 200,000 tourists who fly into New Zealand each year and is eyeing interested channel partners like Skycity and Air New Zealand.

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Founders and funders: LiveLink's connection

Paul O'Leary and Jason Roberts travelled the same orbits well before their investment relationship formed.

Roberts was marketing director for a client of Pursuit PR, a small IT public relations firm where O'Leary is director.

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Founders and funders: Booktrack's perfect pitch

Greg Sitters says Sparkbox never refuses to hear a pitch. Day-in, day-out someone from the early stage investment group sits down with aspiring entrepreneurs.

"We easily met with hundreds of people last year," says Sitters, head of the group's investment committee. "I'm always willing to invest an hour and a coffee with someone no matter how harebrained the idea might be.You don't know what you've missed until you at least hear someone out."

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US specialist, Rob Adams returns to NZ to help businesses

US specialist, Rob Adams returns to NZ to help businesses get new products to market

After two highly successful visits, internationally renowned start-up investor, author, consultant and former top-level executive Dr. Rob Adams is returning to New Zealand. This is his third consecutive trip as part of The ICEHOUSE International Entrepreneur in Residence Programme.

Dr Adams focuses on increasing the rate of success for new product development.

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Share floats to boost NZX

At times, New Zealand's sharemarket has felt like a Murmansk supermarket shelf, circa 1958. Fine if you want pickled brassicas, tinned fish eggs and dual-purpose vodka (also powers tractors), but not exactly a cornucopia of delights.

However, times have moved on and lately a flurry of activity is transforming the range of offerings on the NZX. We're talking easily post-perestroika shelving.

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Online 'Virtual world' MiniMonos to close

MiniMonos, an "online virtual world" for children founded in 2009 by high-profile entrepreneur Melissa Clark-Reynolds, will close next month because of dwindling membership.

Chief technology officer Greg Montgomery said it was not the end of the road for the company of the same name, which employs 15 staff in Wellington and three at its head office in Britain, where Clark-Reynolds now lives.

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Singapore the new Switzerland? Rich turn to Asian havens

Switzerland: home of good cheese and better chocolate, accurate watches and, for as long as anyone can remember, the place the wealthy parked their money, with no one asking where it came from.

But with the rise of Asia and with a new cohort of rich-listers, that's all changing, according to a report released last week by private banking research group WealthInsight.

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Aussie startups could earn $109b – if nourished, says Google

Google believes Australia’s tech startup sector could add an extra $109 billion to the economy or four per cent of GDP by 2033, and add an extra 540,000 jobs, if nourished and allowed to grow.

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The Angel Investor Market in 2012: A Moderating Recovery Continues

The angel investor market in 2012 continued the upward trend started in 2010 in investment dollars and in the number of investments, albeit at a moderate pace. Total investments in 2012 were $22.9 billion, an increase of 1.8% over 2011, according to the Center for Venture Research at the university of New Hampshire. A total of 67,030 entrepreneurial ventures received angel funding in 2012, an increase of 1.2% over 2011 investments.

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A Brisbane tech start-up company has signed a big deal with Twitter

IT WAS the spark in his technology officer Stephen Phillips that gave Queensland company director and businessman John Lyons a strong belief that one day the young man would do something big.

And he was not disappointed

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Business incubator launches in Hawke's Bay

Auckland-based business incubator The Icehouse, which offers training, networks and access to funding for start-up companies, has launched a hub in Hawke's Bay.

The Icehouse officially kicked off in the region last night at a Mission Estate event attended by local business owners and stakeholders.

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Firm switches from anthrax to food safety

Christchurch start-up Veritide's change in direction from building anthrax detection devices to detecting bacteria on meat has secured it a spot as a finalist in this year's New Zealand Hi-Tech awards.

Until last year the hi-tech company had focused on building devices that could detect threats like anthrax and ricin, but changed tack last year to focus on a product it thinks will tap a much larger market.

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Kiwi-Made Travel App Hits #1

Stay Today, the Kiwi-made hotel booking app has hit number one free app in the NZ Travel charts.

Stay Today offers ultra last minute hotel deals that are always better than the lowest online price. It is the first same-day hotel booking app in Australia and New Zealand.

"We target the person that books their hotel on the day" says Matthew Mayne, Stay Today's Managing Director. "If you're the type that books your room while you're sitting at the airport, then this app is perfect for you."

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NASA Space Apps Challenge launches in Auckland

New Zealand teams will compete in the NASA International Space Apps Challenge for the first time this weekend.

The inaugural event, jointly sponsored by the US Embassy and AUT University, will be one of 83 local challenges running worldwide at the same time. The event will be hosted by AUT University at its Auckland City Campus.

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Angels aim to help start-ups

From stock agent to lawyer, corporate financier to venture capitalist, and then business owner - it has been quite a journey for former North Otago man Chris Twiss.

Mr Twiss, who is an investment director for the Seed Co-investment Fund of the New Zealand Venture Investment Fund, returned to his home territory this week for an Angel Association New Zealand networking event in Oamaru.

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Growing funding network gives support to tech start-ups

Angel investors provide both capital and capability to entrepreneurial initiatives.

How is the New Zealand Angel Association - and you personally - involved in the IT industry?

I'm an Angel investor as part of the AngelHQ club in Wellington, but we syndicate investment opportunities all over the country.

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Taiwan keen on better bilateral relations

Taiwan has been taking a series of policy initiatives to maintain stability in the Asia-Pacific region and promote better economic relations with friendly countries including New Zealand, a senior official of the country has said.

Lincoln Ting, Director General of the Taipei Economic and Cultural Office in Auckland said that his Government's 'Rapprochement Policy' and 'Viable Diplomacy' have had a positive impact in improving ties.

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Kiwi angels see US meet as heaven sent

More than 20 Kiwi start-up investors are hoping to forge links with their counterparts from around the world at a major angel investment meeting in the United States next week.

The group heading to Angel Capital Association summit in San Francisco includes Ken Erskine and Robbie Paul of Auckland business incubator The Icehouse, Angel Association New Zealand chairman Ray Thomson and Brian Casey, chairman of the Ice Angels investment group.

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Region can harness opportunities

Many people see Oamaru's Victorian architecture as a monument to the past, but one local entrepreneur says it's an example of initiative and technology.

Nicolas Erdody says Oamaru was once a world leader - Totara Estate was the birthplace of New Zealand's billion dollar frozen meat industry.

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Uni programme sparks Kiwi entrepreneurs

A Porsche in the staff carpark. It was an early sign that a bid in the early 2000s to transform the University of Auckland's culture into something more entrepreneurial was succeeding.

At the heart of that project was a fledgling entrepreneurial development programme called Spark, which last year turned 10.

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High-tech start-ups struggle to find the right resources

Fast-growing technology companies all face the same challenges but few have solutions, writes Sam Knowles.

What are the challenges for small- to medium-sized New Zealand technology companies?

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Angel investment funds fall

The country's key angel investor group is looking for up to 200 new investors this year as funding for very young companies begins to fall.

New figures from the New Zealand Venture Investment Fund show that "angels" put $27.6 million into 95 deals last year. Just under $20m was in follow-on capital to existing investments.

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Media Release: Consolidating angels holding their own

Angel investment in New Zealand is consolidating at around 100 deals a year involving $30 million of investment into start-up companies a year, New Zealand Venture Investment Fund chief executive Franceska Banga said today.

Releasing the latest Young Company Finance Index, Franceska Banga said that angels invested $27.6 million across 95 deals involving young New Zealand companies in 2012. This compares to $34.5 million invested across 100 deals in 2011. It is similar to the investment levels in 2007 and 2008, although below the 2009 and 2010 boom years when annual investment reached $50 million.

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Read the full Young Company Finance report 

Finalists announced for NZ Hi-Tech Awards

A record number of new entrants from companies across New Zealand have lifted the bar for this year's Hi-Tech Awards, to be held on May 17 in Auckland.

With the finalists for the awards recently announced, software firms Xero and Serko are also in the running for the top prize of Hi-Tech Company of the Year, along with manufacturing company Buckley Systems.

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Hopes for North Otago having angel investment

Nicolas Erdody believes angel investment is essential for the New Zealand economy, particularly for areas like North Otago.

The Oamaru man, who has been a member of the Angel Association New Zealand (AANZ) since its inception, is organising an AANZ networking event in Oamaru on April 8.

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Innovation Capital plans Adelaide office to support $100m venture fund

Encouraged by support from the SA Government and Adelaide business, Sydney-based VC, Innovation Capital plans to open a new office in South Australia to support its share of operations under the Federal Government's latest Innovation Investment Fund tranche.

Innovative Australian companies developing or utilising advanced manufacturing techniques will be amongst the beneficiaries of a new $100 million venture capital fund to be established by Innovation Capital. Fund III will invest in companies originating in any state and expect most will develop substantial offshore operations.

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Making tracks into the US market

Doing business in the US is massively different compared to New Zealand, according to Booktrack CEO Paul Cameron

"Things happen really fast, and it's very dynamic. You've got to be really hungry. There will be 20 guys behind you looking to make a deal," he says.

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Forging biotech ties with Asia

Forget funding from Asia - partnering is the best way for Kiwi biotech companies to crack the region, according to Janette Dixon, who's been there, done that. Here are her top tips for succeeding in Asia.

Partnering

It's better to pursue partnerships than venture funding in Asia. Governments in countries like Singapore are focused on building the local sector with infrastructure and employment. Build lasting value for the local communities by partnering with them. To find partners, contact local government agencies or ask New Zealand Trade and Enterprise to set up meetings for you.

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Stars aligning for food producers - Joyce

Kiwi biotechnology companies are being urged to focus on exploiting the expanding international "food for health" market - estimated to be worth US$62 billion (NZ$75b).

Minister for Business, Innovation and Employment Steven Joyce told delegates via videolink at today's NZBio biotechnology conference in Auckland that the stars were aligning for New Zealand food producers.

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Crowdfunding: ‘Dumb money’ or democratisation of capitalism?

All over the world entrepreneurs are singing praises of crowdfunding and politicians are jumping onto the bandwagon.

From what we have seen so far, crowdfunding is here to stay. It can be a boon to countries like Australia where the entrepreneurial spirit thrives and high-growth startups can be an engine of growth.

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EU changes law to encourage investment in small companies

The European Parliament voted on Tuesday to change EU rules to make it easier for venture capital funds to invest in start-up businesses across the 27-country bloc.

The change, which introduces a special EU "passport" for funds that invest in new small enterprises, is part of a broader push to make European law more growth-friendly by cutting the regulatory burden on some types of investment or lending.

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Safety light system attracts big clients

Auckland start-up Lightknight has just begun selling its worker illumination system but the firm already has an impressive list of customers and is focused on taking the New Zealand-developed technology worldwide.

The St Johns-based company has created a lightweight, waterproof lighting system that can be retrofitted to existing high-visibility vests, which it says makes users stand out more at night than they would wearing conventional safety gear.

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The art and mystery of startup valuation, or why is my company worth more than nothing?

As a pre-revenue company, most entrepreneurs determine their valuation based on calculations of Discounted Cash Flow, Net Present Value or using the early valuation of more successful companies deemed to be comparable.

Most experienced early-stage investors looking at a pre-revenue company start with a valuation of zero.

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$30 million technology fund open for business

Some of the biggest names in the local technology scene have joined forces to raise just under $20 million at new fund Blackbird Ventures. About 35 technology entrepreneurs including Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar, Business Catalyst's Bardia Housman and Leigh Jasper and Rob Phillpot, the co-founders of Melbourne construction software outfit Aconex have contributed to the fund's first close.

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Andrew Patterson talks to an innovative company developing electronic monitoring of medication, reducing excessive use by 40% for asthma sufferers with their new SMART inhalers

t's been a big month so far for technology company Nexus6 which secured $4.6 million in new investment funding as well as featuring in one of the world's most influential medical journals.

The Auckland based company has spent more than a decade developing a range of innovative high tech inhalers in the fight against asthma which have significantly improved the management of the condition.

New Zealand has the world's second highest rates of asthma, behind the UK.

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Being big in Australia, or even Texas, won’t get you Valley funding

Silicon Valley mentor and angel investor Mike Loftus says Australian entrepreneurs are selling themselves short if they don't set their sights on America.

Loftus, a 20-year veteran of the start-up scene and entrepreneur-in-residence at US-based The Angels' Forum, says Australia is a great marketplace for start-ups to test things out, but they need to live and breathe Silicon Valley to take their business to the next level.

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