Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


$3 Million Offered From Widening Family of Investors

Tuesday 17 June, 2014

For immediate release

Lightning Lab Sees $3 Million Offered From Widening Family of Investors

Angel investors joined by institutions in early stage offers for digital startups

Lightning Lab Demo Day, the largest early stage investment pitch event in New Zealand, has generated $3 million in offers of seed investment capital from its 2014 showcase.

Founders from nine startups, mostly online platforms and tools for both businesses and consumers, took the stage on May 28 to promote their businesses and ask for investment from a room full of more than 100 registered investors amid supporters, sponsors, family and friends.

Since the event, offers totaling $3 million of investment have been made, including that from NZ Venture Investment Fund’s Seed Co-Investment Fund (SCIF). Angel investors were joined by institutional investors and larger funds, showing a growing enthusiasm from the early stage investment community for the prospects put forward by the Lightning Lab.

Lightning Lab programme director Dan Khan says he is very pleased that investors' engagement was so high in the deal room after the presentations. “Even teams that didn't ask for funding or still needed to complete some additional validation work left with plenty of positive leads for both money and advice going forward,” says Khan.

Six of the 2014 Lightning Lab companies have begun investment negotiations and due diligence and will have deals confirmed in the coming weeks.

The investment offered is more than from Lightning Lab’s inaugural Demo Day in 2013, which resulted in four companies confirming $2.2 million in seed funding.

Founded by startup incubator Creative HQ in Wellington, Lightning Lab is New Zealand’s leading digital startup accelerator. Ten startups from over 150 applications from all over New Zealand and places as far flung as Ukraine, Vietnam and New York were chosen for the class of 2014.

“In just its second year, Lightning Lab’s brilliant team of mentors, partners and investors are delivering not only bigger investment results, but making strides in the entrepreneurial capability of the individual founders that pass through,” says Creative HQ CEO Stefan Korn.

“This year we saw more teams earning revenue by Demo Day, and a greater sense of commercial acumen and business leadership on the teams - a big win for the programme as we look to expand beyond Wellington in 2015,” says Korn.

In partnership with The Icehouse and Canterbury Development Corporation, Lightning Lab will travel to Auckland and Christchurch in 2015. For more information and details on the programme, please visit

© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news