Education Policy | Post Primary | Preschool | Primary | Tertiary | Search

 


Glassjar proposal in line for Lightning Lab investment

Glassjar proposal in line for follow-on Lightning Lab investment funding

May 21, 2014

Two University of Canterbury graduates are pitching for significant follow-on funding in the national Lightning Lab Dragon’s Den-style competition in Wellington next week to help release their products into global markets and ramp up their growth momentum.

Lightning Lab has a growing set of New Zealand business investors to help start-up entrepreneurs and 10 teams will be vying for investor funding next Wednesday (May 28). The competition provides a combination of seed investment funding and an intensive business start-up accelerator programme.

Canterbury graduates Duncan Keall and George Smith will pitch their Glassjar proposal that allows people living together to create a web-based profile of their flat that can be accessed through a cellphone app.

"Years ago most flats would have a bench top glass jar that everyone put money into and that all of the expenses were paid from. Nowadays, student flats are far savvier and have replaced the bench-top glass jar with internet banking and automatic payments," Smith says.

"So we decided to bring back the glass jar and build a simple software programme called Glassjar.

The software took control of our flat account, interpreted the transactions and showed a ledger of exactly which flatmates owed or was owed what from their central flat account.

"It allowed us to confirm everyone's contributions, to start noticing when people didn't pay rent or used the flat card for their own purchases. All the flatmates could log on and see the state of the accounts, which gave great transparency.

"Last year, we commercialised the concept and won the University of Canterbury student-run entré competition’s Most Market Ready Venture and Best Pitch awards. We invested the prize money in further software development.

"The combination of the entré competition and the UC Innovators programme run by Dr Rachel Wright sets the University of Canterbury apart as the most supportive environment for student start-ups. It’s exceptionally good," Smith says.

"We brought in another Canterbury student, Matthew Galloway, as a developer and then committed to working on the venture full time last summer and got accepted into the Lightning Lab. Glassjar is now used by hundreds of student flats throughout New Zealand and around the world.

"We did all this as I completed my masters degree in engineering management, a postgraduate course that focuses on commercialising technology," Smith says.

The trio are preparing for next week’s angel investment round where all the teams pitch for funding.

Dr Wright says the Glassjar team had always been motivated and commercially clever in their approach to becoming successful in business.

"It’s great to see our graduates take exciting strides in the commercial world after leaving the University of Canterbury with a distinctive graduate profile."

Two other University of Canterbury graduate teams among the last 10 to be considered for funding include concepts for foot traffic forecasting and a snapchat advertising platform.

ENDS

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Anniversaries: Vivid Memories Four Years After Christchurch Quake

Four years ago, an earthquake that would change the lives of thousands shook Christchurch at 12.51 p.m. More>>

ALSO:

Environment 'n' Conservation: Slash Meets Tāne The Tuatara

Rock and Roll superstar and former Guns 'n' Roses guitarist Slash visited Zealandia Ecosanctuary along with collaborating band Myles Kennedy and the Conspirators. More>>

Foo Fighters: Exclusive Show In Support Of Music Foundation

Frontier Touring has today announced that the Foo Fighters will play a last minute intimate and exclusive benefit show at the Auckland Town Hall this Friday February 20 with all profits going to The New Zealand Music Foundation. More>>

ALSO:

Canterbury Quakes: Feedback Sought On Short-Listed Memorial Designs

Six short-listed designs for the Canterbury Earthquake Memorial have been released for public input... The Memorial will honour the victims of Canterbury’s earthquakes and acknowledge the suffering of all those who lived through them as well as the heroism of those who participated in the rescue and recovery operations. More>>

ALSO:

Celia Lashlie: Legacy Will Live On

Social justice advocate Celia Lashlie leaves a legacy that will continue to have a positive impact on the lives of New Zealanders for years to come, Labour Leader Andrew Little says. “Celia was a powerful voice for reason, sense and compassion. Her work, particularly with teenage boys, was ground-breaking." More>>

ALSO:

Obituary: Sad Farewell To PPTA Activist Robin Duff

Duff has been a long-time fixture of the association... Most recently Duff has been working hard to support Canterbury teachers through the quakes that devastated the region. More>>

ALSO:

Poroporoaki: Dr Apirana Tuahae Kaukapakapa Mahuika

Papa Api was a man of many great gifts and occupied a long list of roles including priest, teacher, scholar, politician, and leader. Chair of Te Runanganui o Ngati Porou, and a rangatira of his iwi... More>>

ALSO:

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Education
Search Scoop  
 
 
Powered by Vodafone
NZ independent news