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We very much hope you can make it to this year’s Angel Summit in Christchurch.

Recent summits have been inspiring for the growing confidence and awareness about the unique and powerful approach New Zealanders take to scaling businesses.

We have a capacity for empathy gives our ventures a competitive advantage and a foundation that sets them apart from others striving for traction in global markets.

At this summit we will explore how amplifying and leveraging empathy/our New Zealandness puts us ahead of the curve. Perhaps we are even at a tipping point where New Zealand and New Zealand business become the exemplar for how to deliver exponential impact and value while taking care of each other and the planet.

The Summit is being held at Pemberton,15 minutes’ drive from central Christchurch in a beautiful country setting. We deliberately chose a small intimate venue to ensure we create the right atmosphere for relaxed and rewarding conversations. This also means that our summits attract high demand and they tend sell out ahead of time.

We will be repeating our Runway event for founders and our investor directors who are looking to scale and prove value quickly on Wednesday 6 November. This ‘invitation-only’ event provides the inside skinny on scaling with experts and peers, with gritty practical insights including what’s required and who to talk to when sourcing the next round of growth capital. Please get in touch if you would like an invitation by contacting us here.

On the first morning of the summit we set the context for the two days by reviewing the year and exploring what it means to be a venture scaling from New Zealand. In the afternoon we dig into case studies and data. And on Friday morning we focus on how we amplify value. All of this will be shot through with perspectives from people who are at coal face doing this thing!!

Register here.

Click here to view accommodation options.

Click here to view the programme.

The post AANZ 2019 Summit appeared first on Angel Association New Zealand.

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Some inspiring validation that NZ is generating world class startups with Founders’ Fund investment in Narrative.

American entrepreneur Peter Thiel and his collective of Silicone Valley venture capitalists are investing in Narrative, a New Zealand tech startup that creates apps for streamlining the workflow for professional photographers.

San Francisco-based Founders Fund Pathfinder have contributed to Narrative’s $700,000 seed funding along with Flux Accelerator, which is part of Icehouse Ventures.

Narrative was founded by photographer James Broadbent and software engineer Steffan Levet in 2017, launching less than a year ago with their own “bootstraps” and six months later, a small investment from friends and family.

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The post US investment in kiwi startup appeared first on Angel Association New Zealand.

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Great to see Netflix senior management join the board of Dropit

Netflix’s former marketing director Joel Mier has given a ringing endorsement to Tauranga software company DropIt, joining the board of the Kiwi company which he agrees could be worth $1 billion in three years’ time.

DropIt provides an app that helped companies run 83,000 so-called “drop auctions” or reverse auctions to sell their products online in the year to March.

Its revenues are still in the single-digit millions, but chief executive Peter Howell said the firm with 24 staff experienced “8000 per cent” revenue growth last year and expected to run 600,000 auctions this year as it grew in the United States.

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The post More international validation of kiwi startups appeared first on Angel Association New Zealand.

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The AANZ runs a highly regarded governance course and this article sums up the key points covered really neatly.

Startups that are backed by professional financial investors almost always have a Board of Directors that consists of some set of founders, investors and sometimes independent directors.

While the management of a startup company deals with the day-to-day decision-making within the company (strategy, budgets, goals, tasks, compensation) ultimately the Board of Directors has the legal governing responsibilities for these things. This is often called “corporate governance” — in case you’ve never heard that term.

It is worth pointing out that there are actually three levels of governance in venture-backed startups. What most founders think about is the daily management of their businesses and they realize that they periodically need to check in with their board of directors to get buy in for key decisions.

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The post Super relevant points on high growth governance appeared first on Angel Association New Zealand.

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NZ has taken part in the last three years of Startup Genome’s annual survey of startup ecosystems and is doing well in the activation phase.

SAN FRANCISCO, Calif. — The 2019 Global Startup Ecosystem Report (GSER) has been launched at The Next Web Conference. The GSER is the world’s most comprehensive and widely-read research on startups based on data from thousands of startup founders and research on millions of companies.

The 2019 GSER provides insights and guidance to public and private leaders in dozens of countries and cities — from Bahrain to New Zealand— about how to cultivate vibrant startup ecosystems. The report outlines key success factors for startups, constituting the new science for entrepreneurial ecosystem development.

Ministry of Business, Innovation and Employment engaged Startup Genome to benchmark New Zealand against more than 50 ecosystems globally
New Zealand’s #GSER2019 highlights:

  • Top 10 Global Ecosystem for Agtech & New Food
  • Top 5 Activation Ecosystem for Life Sciences
  • Created $1.4b in Ecosystem Value with $150m in early stage funding over last 2.5 years
  • Regional sub-sector strengths are Life Sciences, and Agtech & New Food

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The post How does NZ measure up? Startup Genome appeared first on Angel Association New Zealand.

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If you’ve read the earlier article about how NZ ranks, you might be interested to see where Australia’s key ecosystems land.

Waning political focus on innovation and a lack of funding for early-stage startups have seen Australian cities slip in the Startup Genome global rankings.

The Startup Genome Ecosystem Report 2019 has seen Sydney drop six places compared to the last report in 2017, from 17th place to 23rd. Melbourne didn’t make it onto the top-30 table at all.

Melbourne was, however, named as a ‘challenger’, or an ecosystem with the potential to make the top 30 within the next five years.

The findings were, however, contrary to those of the StartupBlink Startup Ecosystem Rankings 2019 report, which named Australia as the fifth-most startup-friendly country in the world.

The Startup Genome report bases startup ecosystems in terms of their value — output, exits and success — as well as on things like funding, connectedness, knowledge and talent base.

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The post How does Aus measure up: Startup Genome appeared first on Angel Association New Zealand.

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Great to see AANZ member MIG Angels’, Dean Tilyard, playing such a key role in the next stage of growth for Invert Robotics.

Robots that cling to hazardous chemical containment tanks might sound like the stuff of science fiction, but Christchurch, New Zealand-based Invert Robotics — a spinout from the University of Canterbury’s School of Engineering — has been selling them for close to a decade. The company’s camera-equipped climbing machines can squeeze into spaces too tight or hazardous for human workers and perform daily inspections of equipment in a range of industries, including food and beverage, dairy, aviation, pharmaceutical, and oil and gas.

To lay the groundwork for its next phase of growth, Invert Robotics today announced that it has raised $8.8 million in a round of venture funding led by Finistere Ventures, with contributions from Yamaha Motor Ventures & Laboratory Silicon Valley (YMVSV) and existing investors Allan Moss, Inception Asset Management, and the New Zealand Venture Investment Fund. The fresh capital brings its total raised to roughly $15.9 million, according to Crunchbase, and managing director Neil Fletcher said it will be used to fuel the startup’s expansion to the U.S. and to further develop its hardware platform.

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The post Angel-backed Invert Robotics gets VC funding appeared first on Angel Association New Zealand.

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An interview with one of Ambit’s founders, Josh Comrie, sheds light on what it takes to grow an AI startup.

An interview with one of Ambit’s founders, Josh Comrie, sheds light on what it takes to grow an AI startup. Startup founders often report that the most stressful part of their role is not the long hours and sleepness nights, or dealing with a seemingly endless raft of technical, staffing or business development difficulties, but rather the process of preparing for, finding, pitching and negotiating the often vital lifeblood of early stage businesses – angel or VC funding.

So when we spoke to seasoned investor – now tech startup founder – Josh Comrie, about his experience closing an oversubscribed $1.75M capital raise from investors such as K1W1, Lewis Holdings and NZVIF, we were intrigued to hear his take on the process.

Comrie’s current “day job” sees him fronting AI conversation platform Ambit as founder and CEO, but he has been an active investor in early stage companies for nearly two decades and is a founding member and director at prominent angel investment group Flying Kiwi Angels.

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The post Ambit founders talk about fundraising appeared first on Angel Association New Zealand.

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Biomatters was one of Ice Angels first investments so it’s terrific to see this outcome validating the asset class.

New Zealand tech business Biomatters, a leading provider of DNA data analysis solutions worldwide, says it will be acquired by US company GraphPad.

None of the parties involved would comment on financials, but Biomatters – a darling of the business and tech press – has grown quickly to become a substantial operation.

“We have 65 staff – 47 here in NZ, 8 in the United States, and 10 in our office in Denmark,” chief executive Brett Ammundsen told the Herald this morning.

“We have around 4000 customers worldwide, ranging from individual researchers who download the software from our website, to top 10 pharmaceutical companies. Our active user-base is over 50,000 scientists.”

Biomatters has had a leg up from taxpayers at various points.

In 2010, it was one of three companies that shared $1 million growth funding through the University of Auckland Business School Entrepreneurs’ Challenge.

Crown agency NZVIF (the NZ Venture Investment Fund) invested in Biomatters, and it was also backed by business incubator IceAngels.

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The post Angel-backed Biomatters sold appeared first on Angel Association New Zealand.

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It’s great to see angel-backed, Ask Nicely, secure their next round of growth capital.

They’ve come a long way since their days as two men in a Ponsonby garden shed, just four years ago.

Auckland-founded startup AskNicely has raised US$10 million ($15m) in its first major funding raising.

The Series A round was led by Nexus Venture Partners – a venture capital outfit that operates across the US and India. Existing investors Blackbird Ventures (the Australian investment company which is backed social media tool Canva) and Sir Stephen Tindall’s K1W1 also chipped in more money.

AskNicely makes software for real-time customer satisfaction surveys and gauging a company’s “net promoter score” or NPS, a trendy metric derived from taking the number of positive mentions it gets from customers, then taking away the number of negative mentions for a net score ranging somewhere from -100 to 100.

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The post AskNicely closes $US10m series A appeared first on Angel Association New Zealand.

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