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

 

Zeropoint Ventures Launches Cohort 1 Virtual Incubator

Zeropoint Ventures’ First Virtual Incubator, Cohort 1, Launches


We are excited to announce the launch of Cohort 1, the first of the ZeroPoint Ventures cohorts. The successful participants will be:

1. Invetyx founded by Yaniv Yousef

2. Brandspace founded by Manu Vallyon

3. Nightwriter founded by Ryan McCarvill

4. Workpath founded by Tim Roberts

5. Ultra founded by Michael McFadden

Dan Khan, ZeroPoint Ventures CEO stated

“We were extremely pleased with the number of applications as more than 80 founders from across New Zealand applied for the first-round cohort. The many and varied locations of these people really validated our assumption that New Zealanders do want to build ventures where they live and work, to create strong regional economies and remain in their local support networks. We focused heavily on choosing ventures for revenue and business sustainability rather than just investability. This made the selection criteria quite different as you are not looking for moonshots.”


At ZeroPoint Ventures, we work with solo founders as well as founding teams as, in the early days, every great idea is usually led by a single visionary leader, explained Dan. Our approach reinforces this as the goal of the incubation cohort allows people to find out if their idea is worth building; to validate that a future sustainable business opportunity exists. This avoids wasting time and energy on ideas that don’t work. We also recognise that people establish startups in their spare time which shows commitment, and desire to work past the 9-5 status quo. Not everyone is cut out to start and run their own business so the incubation period culls those who are all talk but no action.

The incubation phase of the ZeroPoint Ventures programme takes four months allowing the founder to work on their venture part time alongside their day-job. Our research shows that lack of financial security is a key detractor for those in the regions seeking to join an incubator in the main centres, so we don’t want people having to give up their income source and to leave their families and communities for 12-16 weeks.

“I've come to realise that the culture of startups is broken. Society isn't built on top of a few large enterprises but on thousands of small and medium sized businesses - especially in New Zealand. The go big or go home philosophy that is pervasive in our industry has led to a huge amount of waste and opportunities lost. It's clear now that selling less equity and bootstrapping a sustainable business is the way forward, especially in a capital constrained market like NZ, and that's why ZeroPoint is such a breath of fresh air.” - Ryan McCarvill, founder of Nightwriter and Cohort 1 member

We have chosen to work with smaller teams - five founders in each cohort - to enable us to allow scale of ideas and progress at different paces. We will have multiple small intakes through a 12-month period allowing focus and attention on the specific needs of founders in each cohort. As they progress through our programme at different stages, future intakes will benefit from those who have gone before. Building a virtual community able to share key learnings and experiences is an important part of the ZeroPoint Ventures approach, Dan explained.

Teams that applied from the regions who did not make it into the first cohort will be offered 1:1 coaching on a paid basis. We are also working with several regional entities to introduce the ZeroPoint Ventures model which works to support regional businesses adopt #TheNewWay of working - startup thinking inside existing businesses.

It was particularly pleasing to see so many ventures being referred to us via our amazing partners like BizDojo and Callagan Innovation. Both of these are good starting points for founders looking to connect with the right support programmes and community leaders. Dan noted.

Callaghan Innovation spokesman Hēmi Rolleston said expanding the founder incubator network to regional areas recognised that the tech sector’s best ideas didn’t come only from the main centres, which have had access to incubator services for some time.

“Nationally our programmes help hundreds of companies improve their ability to innovate. ZeroPoint Ventures is one of six founder incubators we have invested in recently so that regionally-based innovators have the same opportunities to develop their ideas into export-focussed businesses. It’s clear from the number of applications that we are tapping into strong demand for programmes with no geographical boundaries, which allow founders to stay connected to their local support network. We look forward to seeing the companies working with ZeroPoint Ventures move to the next level, contributing to New Zealand’s increasingly vibrant innovation ecosystem,” Mr Rolleston said.


Find out more about our Cohort 1 ventures here:

https://blog.zeropoint.ventures/doing-things-differently-391d86d3d6e6

For more information about ZPV, visit our website at

https://0.ventures/


ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Transport: Successful Bridge Repair Opens Two Additional Lanes To Traffic

The opening of two additional lanes on the Auckland Harbour Bridge this morning will help relieve some motorway congestion for motorists heading home to the North Shore tonight. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


University Of Auckland: Whale-Watching By Satellite – Follow Their Travels Online

Scientists have successfully attached satellite tracking tags to six New Zealand southern right whales, or tohorā, and are inviting the public to follow the whales’ travels online. Part of a major research project involving the University of Auckland ... More>>

Commerce Commission: Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million

Kiwibank has entered into a settlement agreement with the Commerce Commission after reporting that it failed to have in place robust home loan variation disclosure policies, procedures and systems. In a settlement dated 27 August 2020, Kiwibank admitted that ... More>>

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO: