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

 

Caracals: Small Cats With Big Ears Arrive At Wellington Zoo

Visitors to Wellington Zoo will be able to see New Zealand’s first Caracals in the Zoo’s new Grassland Cats habitat, with a special visitor opening day on Saturday 27 September. More>>

Gordon Campbell: Classics - Tales From Moominvalley
Can’t speak for the reading end of it but the Moomins ( or maybe the story about Margaret Wise Brown) were the most enjoyable subject to think about and write about during these whole first 50 issues of Werewolf. For that reason – and because the Moomins always reward re-reading – I’ve decided to reprint it. The only added element is a link to an interesting hour long documentary about Tove Jansson. More>>

ALSO:

Repping In The Pacific: All Blacks And Manu Samoa To Play Historic Apia Test

The All Blacks will play Manu Samoa in Apia on Wednesday 8 July next year as part of both teams’ preparations for Rugby World Cup 2015. More>>

ALSO:

Monarchy: Duke And Duchess Of Cambridge Are Expecting Second Child

Their Royal Highnesses The Duke and Duchess of Cambridge are very pleased to announce that The Duchess of Cambridge is expecting their second child. More>>

ALSO:

2015: Elton John Plans Wellington Show

After nine years, Elton John and his band will return to Westpac Stadium, Wellington for one spectacular concert! The November 21, 2015 concert will feature iconic hits and classic album tracks from throughout his incredible five-decade career... More>>

Book Awards: Jill Trevelyan's Story Of Peter McLeavey Is Book Of The Year

The story of Wellington art dealer Peter McLeavey and his gallery has won the prestigious New Zealand Post Book of the Year 2014 in a glittering ceremony in Wellington. More>>

ALSO:

Scoop Review Of Books: King Richard

Simon Nathan reviews 'Richard Seddon, King of God’s Own': My father grew up in Wellington during Seddon’s premiership... I can recall him standing under the Seddon statue in the grounds of parliament and telling me that Seddon had more backbone than Sid Holland and all his cabinet colleagues put together.. More>>

8 October: Miley Cyrus Bangerz Tour Coming To Auckland!

Dainty Group announced today that global superstar Miley Cyrus will bring her BANGERZ TOUR to New Zealand in October this year. This will be Miley’s first ever visit to New Zealand and there will only be one Auckland show before she takes her tour to Australia. More>>

ALSO:

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Education
Search Scoop  
 
 
Powered by Vodafone
NZ independent news