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 http://lightninglab.co.nz/.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news