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


Downlights One Third Funded With One Day To Go

Auckland-based social enterprise Downlights Limited has raised almost $60,000 from 97 pledgers. They have until tomorrow to raise their minimum goal of $150,000 through the equity crowdfunding platform PledgeMe.

“Over the past few days we’ve been inundated with candle orders with over 1000% increase on our previous week! We’ve also seen a wonderful spike in investors to our campaign.” says founder Jennifer Del Bel.

“We’re so happy to see our crowd come in, and people purchase our candles that have impact at their core.”

Downlights’ candles are manufactured by young adults with Down syndrome and intellectual and learning disabilities. One dollar from every candle sold is also donated to the New Zealand Down Syndrome Association and RECREATE NZ, organisations which empower disabled youth through employment and skill-building opportunities.

“As we see other companies struggle to keep their staff employed, including Altus Enterprises in the disability space, we want to show that we can grow our impact and our revenue even in times like this.”

Downlights are aiming to raise up to $300,000 to move from the founder’s home into a factory, and increase their production and impact.

“We decided to raise investment to grow from our community, because we wanted diversity not just in our team but in our ownership.” says Del Bel.

Downlights is seeking to raise between $150,000 and $300,000 which represents 15.2%–26.2% of the company. Shares are $0.75 each with a minimum investment of $300 for 400 shares. Investors will receive non-voting shares, and those that pledge over $25,000 will receive voting shares.

“We’ve been told that up to 60% of pledges can happen in the final day of a campaign - and we truly believe that will be the case here. We just need our crowd to make this happen.” says Ms Del Bel.

The equity crowdfunding campaign launched the day that New Zealand announced the move into lockdown, and has raised almost 40% of it’s goal. The campaign can be found here:

© Scoop Media

Business Headlines | Sci-Tech Headlines


Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

Sci-Tech: Perseverance Rover Lands On Mars – Expert Reaction

NASA has landed a car-sized rover on the red planet to search for signs of past life. The vehicle has more instruments than the four rovers preceding it, and it’s also carrying gear that could help pave the way for human exploration of Mars. The ... More>>


ASB: Quarterly Economic Forecast Predicts OCR Hike As Early As August 2022

Predictions of interest rate rises have been brought forward 12 months in ASB’s latest Quarterly Economic Forecast. Chief Economist Nick Tuffley now expects the RBNZ to begin raising the OCR from its current level of 0.25% as early as August ... More>>

ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>

OECD: Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020

The OECD area unemployment rate was stable at 6.9% in December 2020, remaining 1.7 percentage points above the level observed in February 2020, before the COVID-19 pandemic hit the labour market. [1] In December, the unemployment rate was also stable ... More>>

Stats NZ: Unemployment Drops To 4.9 Percent As Employment Picks Up

The seasonally adjusted unemployment rate dropped to 4.9 percent in the December 2020 quarter, from 5.3 percent in the September 2020 quarter, Stats NZ said today. Last quarter’s unemployment rate of 5.3 percent followed the largest increase observed ... More>>