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Hot Result For Icehouse Member

The CEO of New Zealand’s leading business incubator for high tech companies – The Icehouse – today praised the success of The Synapse Group in securing significant investment from New Zealand Post.

Icehouse CEO, Andrew Hamilton, says innovative systems and software development company, The Synapse Group, has been a member of The Icehouse since December 2001 and has proven its worth.

“Icehouse members must demonstrate potential as entrepreneurial ventures with high growth prospects,” says Mr Hamilton.

“The Synapse Group is a high quality company. We always expected Synapse to attract interest from investors. New Zealand Post’s willingness to invest in Synapse reinforces the calibre of the up-and-coming companies who are part of the Icehouse stable.”

The recently announced venture capital deal sees New Zealand Post acquire a 30 per cent shareholding in The Synapse Group.

Synapse Managing Director, Mark Loveard, says he is delighted with the most recent success of his company, and considers the support from The Icehouse to be a contributing factor.

“The Icehouse recognises and nurtures talent for embryonic New Zealand companies exhibiting real growth potential,” he says. “You simply can’t put a value on such an endorsement from The Icehouse and its partners.”

Since April 2001, The Synapse Group has developed two major mobile and Short Message Service (SMS)-based marketing products – TxtCast and Promotxt – and has licensed another – the MOBILIZER – as Telecom’s preferred mobile e-mail solution for corporate customers. It also offers a comprehensive range of consultancy, integration and implementation services for mobile Internet and wireless technologies.

Mr Loveard says New Zealand Post’s investment will enable The Synapse Group to grow its solutions team and launch two new mobile applications currently under development – one with additional support from Industry New Zealand’s Business Growth Fund.

“With ongoing support from organisations such as New Zealand Post, The Icehouse and Industry New Zealand, The Synapse Group is looking forward to further enabling our clients to extend the power of the Internet into mobile, wireless and hand-held devices.”

The Icehouse is a partnership between Bank of New Zealand, Carter Holt Harvey, Telecom New Zealand, The Boston Consulting Group, The University of Auckland Business School, Chapman Tripp, Deloitte, Microsoft and HP.

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