Investment opportunities, news, and views for New Zealand angel investors and entrepreneurs

Hi Tech Innovations – a showcase of NZ University Hi Tech IP
When: Wednesday 4 August, 5.00-7.30pm
Where: Te Papa, Oceania room, level 3, 55 Cable Street Wellington
Guest speaker: Phil O’Reilly, Chief Executive, BusinessNZ
Seven universities showcase their leading edge Hi Tech innovations including:

• Materials and manufacturing, industrial processes, smart grids, power electronics, control systems, robotics, photonics, rapid prototyping, medical devices, textile innovation and nano technology.
• Potential opportunities and collaborations
• Networking and one-on-one discussions with NZ’s top research talent

What could your organisation achieve through partnering with New Zealand’s top researchers? Come and find out.

Register Now for the event – RSVP essential.

A project sponsored by the Tertiary Education Commission

The Angel Association of NZ will have its annual summit on 4-5 November in Nelson this year.  The last two summits have presented great networking opportunities; it’s always interesting to find that angels in other cities in NZ are facing the same issues and challenges as the rest of us.

Keep those dates open, check back here on nzangels.com occasionally, and we’ll post more information as it comes to hand.

The inimitable Bill Payne has written his final report to NZVIF and The ICEHOUSE on his findings about the entrepreneurial landscape in New Zealand, based on his six-month tenure on our shores, and it makes very interesting reading.

The good news:

• Kiwi entrepreneurs and their ventures are on par with their US counterparts in terms of quality
• The angel investment scene in NZ is very active and developing rapidly
• Incubators are starting to show promising in commercialising laboratory-based innovation
• The NZ Government’s commitment to start-up business is laudable.

The bad news:

• Like their overseas counterparts, NZ entrepreneurs lack sufficient understanding of marketing, sales channels, capital source, governance, and competitive analysis
• Too much incubator support of angel groups has led to “spoiled angels” who are not engaged enough in the entire deal-flow process or mentoring portfolio companies
• The Valley of Death between $2m-$5m dollars looms larger than ever given the global financial climate
• Current tax regimes discourage investment for trade sale exits.

Key suggestions:

• Entrepreneurs should get a footing in local markets before attempting to sell offshore
• Companies wanting to get funding should stop writing Investment Memoranda (IMs) and focus on succinct business plans instead
• Angel groups should seek to more fully engage their members in all aspects of investment and post-investment activities, rather than relying on external sources
• Angels should upskill themselves through better education programmes
• NZVIF should not focus on creating more large conventional VC ($100m+) funds, but instead focus on creating 2-5 new smaller ($60-80m) funds
• Companies that need more than $5m investment should become successful offshore, and then raise that investment in their target markets
• Tax rules should be modified to clarify the tax ramifications of share options, as well as to better facilitate and encourage angel investment.

In all, the report provides a great, informed snapshot of where we are as a sector, as well as providing valuable food for thought for where we go from here.

Download the report.

New Zealand Venture Investment Fund’s Seed Co-Investment Fund (SCIF) is currently looking for approved co-investors.

If you are involved with an angel investment network or fund, the New Zealand Venture Investment Fund Limited would be interested to talk with you about a co-investment relationship. SCIF enter into co-investments alongside “approved Co-investors” through our $40 million Seed Co-investment Fund (Seed Fund) to invest into young companies at the seed and start-up stages. The SCIF partners choose the companies, decide on the details of each investment, and work with the ventures to help them grow and ultimately exit. The Seed Fund is there to support these partners as a passive co-investor.

SCIF invests to a maximum of $500,000 in any eligible company (or group of companies). Co-investment partners must, at minimum, match the amount invested by NZVIF, in each investment.

NZVIF is inviting private investors, investor networks and funds who would like to make an application to become an approved Seed Fund Co-investor to submit written proposals.

The evaluation process takes approximately three months and includes a desktop evaluation, a site visit, and detailed due diligence on the capabilities of the potential investment partner. If successful, a co-investment partnership will be offered by NZVIF.

NZVIF is also looking for expressions of interest from potential partners who would like more information on the requirements of becoming an approved Co-investor.

Process

This is a contestable process and NZVIF is looking for applications from potential Co-investment partners which demonstrates their experience, credibility, commitment and professionalism in early stage investing in New Zealand.

If you’re interested in applying, contact either Chris Twiss or Richard Palmer in the first instance to indicate your interest.

You’ll then be asked to submit an application that addresses the following areas:

1. Is the proposed angel investment structure a ‘best practice’ commercial and legal structure? The proposal should adequately describe how the applicant intends to govern and manage its operations.
2. Explain how the proposed structure is commercially and sustainably viable in the medium term.
3. Does the applicant have in place adequate processes and systems across all stages of the investment process – sourcing deals, due diligence, negotiating terms, managing investments, etc?
4. Provide a full explanation of the decision making process including details of the key investment personnel, investment committee, and any other parties who will have a role in investment decisions.
5. Does the applicant have a credible board and investment management team (or individual) who understand and have experience in running an early stage company investment business?
6. Does the applicant have access to credible and experience investors who understand investing in seed and early stage companies?
7. What sort of track record and investment strategy does the applicant have in terms of making money in early stage company angel investing?
8. Does the applicant have the necessary experience with co-investing and deal syndication to ensure access to capital and markets in New Zealand and offshore?
9. Does the applicant have an extensive pipeline of potential investments?
10. Is at least $5m of private sector capital available over a 3-4 year period for co-investment with the Seed Fund?

Applications close on 27 August 2010.

For more informatio, see the official Call for Applications.

Liquor Information Pricing Services (LIPS) is looking for an investor to help expand its unique price monitoring and insights service into new categories and markets.

The Pitch:

Established in late 2003, LIPS monitor alcohol prices and promotion activity advertised in print and electronic media throughout New Zealand. Data is uploaded to its trade website www.lipsltd.co.nz where subscribing clients access, filter and download reports, 24 hours a day, 7 days a week.

Clients use LIPS’ reports to identify key advertising and pricing trends by product, brand, supplier, retailer, sales channel and region. The insights gained greatly assist subscribers with the development of more effective promotion and pricing strategies to improve sales performance. LIPS also perform ad-hoc data analysis and prepare customized reviews for some trade clients.

LIPS enhanced its website further in 2009 with the addition of intuitive ‘chart-building’ software. The software allows subscribers to create their own charts and reviews to identify key insights instantly. Charts can be saved and exported to excel and power point. They also update automatically with the latest data each time a user logs in.

LIPS also operate www.lips.co.nz for consumers to search and compare liquor prices free across 100’s of retailers nationwide. The concept is to broaden availability of LIPS’ data by allowing members to find the best advertised deals on their favourite brands. Search results are ranked from lowest to highest price. The commercial value lies in generating referrals for liquor merchants which can be charged for. Each search is also logged enabling LIPS to supply statistics to retailers and suppliers on search trends and demographic profiles. Advertising space is also sold to merchants online.

The company is debt free and has traded profitably over the past few years whilst only monitoring the alcohol category. The business is also unique. There is no other company in New Zealand monitoring advertised liquor prices and selling insights to clients. LIPS has an excellent reputation as “New Zealand’s leading advertising scrutinizer”* and provider of pricing intelligence for the liquor industry. Several opportunities exist to expand LIPS’ services and income from other categories and markets.

*DrinksBiz – Feb/Mar 2010

Accomplishments to date:

• Proven success in liquor industry – 7 years
• Profitable, debt free company
• Development and innovation of services provided – reports, chart-builder, www.lips.co.nz
• Reputation as leading market intelligence company
• Consumer database of 6,500 members

Development plans:

LIPS are seeking professional assistance and investment with the following:

• Expand monitoring and insights service into categories beyond liquor
• Broaden monitoring service in markets outside New Zealand
• Develop web scraping software and automated data feeds from media/merchants
• Enhance chart-builder software to integrate with sales data
• Implement marketing strategy to grow membership and web traffic of www.lips.co.nz

Key Challenges:

• Little potential for growth in New Zealand Liquor Industry (small market)
• Modifying database to accommodate new categories and direct data feeds
• Personal circumstances preventing further capital injection from directors
• Making business scalable by reducing overhead related to data entry

Principals & previous experience:

Sean Jowers is the Managing Director of Liquor Information Pricing Services (LIPS). He has a Bachelor of Business from AUT and over 15 years experience in key account sales, marketing and business management in the liquor and advertising industries.

Paulette Bishop is a Director of LIPS and has held category management and analyst positions within the FMCG and Liquor Industries over a period of 12 years.  Paulette currently works as a Finance Analyst and all of Paulette’s spare time is spent developing LIPS’ business strategies.

What they want from an investor:

The directors seek an investor with skills and experience in information technology, Microsoft programming and business development to help achieve the growth objectives. An insights background and analytical mind is also preferred.

An investment of $100,000 is sought. The directors are open to discuss all options and possibilities for investment, purchase of equity and a role within LIPS.

Who the offer is open to:

Suitably experienced angel investors who are eligible persons as defined in the Securities Act or who would otherwise be exempt from the requirements of Part II of that Act.

Contact details:

Sean Jowers
Phone: 021-547-583
Email: seanjowers@lips.co.nz
www.lipsltd.co.nz
www.lips.co.nz

Note: If you plan to act on any information on this site, please be sure to read the disclaimer.

Nationally renowned brand, Konev Leather, is seeking investment to execute new strategies that will expand the Konev brand and leverage its distinct market profile.

The Pitch:
Konev Leather manufactures sophisticated, quality, fashion accessories for both other licensed brands and its own retail brand. Konev has celebrated credentials and a proud history and distributes through its own Konev flagship stores and retailers nationwide. The company has developed a motivating and distinctive brand story focused on the high end luxury fashion accessories market which, combined with a fresh and strong retail distribution strategy, is attracting a significant following.

The Konev brand has grown significantly and the potential is unmistakable. Two own-brand flagship stores are currently operating and plans are in place for further retail development. Flagship stores provide a distribution channel for the factory’s production but also increase brand awareness which is promoting demand from external sales outlets.

One of the brand’s marketing advantages is that the New Zealand manufacturing origin allows it a status clearly distinct from imported products. The high quality and “Made in New Zealand” label positions our products as very desirable items for both national and overseas customers alike.

Another advantage of the “Made in New Zealand” tag is that we can focus on a low-carbon footprint and durability by-line which is clearly becoming a strong positive appendage to a consumer brand.
A web strategy supports the retail focus.

Stage One of the brand growth is well underway within New Zealand but overseas development is limited only by imagination. Konev’s products have a worldwide market and with vision and drive the potential for an international presence is a distinct possibility.

Accomplishments to date:

• Sales exceed $1m per annum.
• Proven brand strategy.
• New distribution and brand developments already underway.
• Proven product, brand and market. No guesswork is required ~ just the backing and commitment to ensure success.

Development plans:
Konev seeks additional equity to permit further expansion of its brand and retail strategy. The company deliberately carries limited debt (overdraft only) and the directors see the addition of an equity investor(s) as being a preferred option rather than raising debt.

The Company has significant plant and stock inventory and the current equity owners will retain their investment.

Key Challenges:

• Funding, selecting and outfitting further retail sites.
• Ensuring brand strategy is consistent and clear to consumers.
• Ensuring current production capabilities are matched to sales capabilities and knowing when to adapt the strategies to suit (eg for international expansion.

Principals & Previous Experience:
Glenn Collins – Director, Production Manager. Trained by company founder and looks after the 9 production staff.

Suzanne de Vere – Director, Product & Marketing Manager. Born to shop and therefore the perfect analyst of consumers needs.

Terry Collins – Director. 18 years financial markets experience ensures he keeps an eye on the overall financial strategy and direction.

What they want from an investor:
The directors seek investment of NZD 500,000. The equity placement will be used to fund growth and no dividend policy has yet been formed.

The placement should be considered as a 5-year minimum with an equity sell-down or trade sale the most considered exit strategy.

The strategy and scope for further growth is clear and an investor who has brand or business development experience would be an ideal fit as a consultant but a silent partner(s) is also welcome.

Who the offer is open to:

Suitably experienced angel investors who are eligible persons as defined in the Securities Act or who would otherwise be exempt from the requirements of Part II of that Act.

Contact details:
Terry Collins
Email: tvcollins@xtra.co.nz
Mob: +64 21 428 367

The New Zealand Venture Capital Association, Investment New Zealand, and The Aviation Cluster present a series of seminars for aviation entrepreneurs, investors, and those who advise them in:

• Hamilton on Tuesday, 22 June
• Wellington on Wednesday, 23 June
• Auckland on Friday, 25 June

The Seminars run from 9:30am-3pm in each centre; all venue details will be confirmed on 15 of June.

Seminar attendees will learn about:

• The international aviation investment market.
• What’s been happening in that market recently and what the trends are.
• Who the typical sources of investment are and where those sources are located.
• What different types of investor are active in the market from angel to private equity.
• What investors in aviation are looking for.
• What turns investors on and what turns them off.
• How to effectively market an aviation investment opportunity.
• What makes for a good investment memorandum in the aviation market.
• What the aviation entrepreneur wants from an investor and what the investor can provide in addition to money.
• What co-investors in aviation typically look for.
• Cross border co-investment in aviation.
• The special dynamics that co-investment brings and how one company decides to invest with another.
• Risk sharing options.
• Taking advantage of aviation industry opportunities.

There will be a $15 cover charge as a contribution to catering costs.

Jim will have some limited time slots available to meet one-on-one with aviation entrepreneurs, investors and those who advise them.

Please register your interest by Friday 11 June with:

Shaun Mitchell
AIC General Manager
Aviation Industry Cluster

Email: shaun@aviationcluster.co.nz

Office: (07) 8297557
Mob: (021) 308 333

About Jim:

James M. McCoy is a multi-career entrepreneur, venture investor and business development executive based in California. Over four decades, Jim has founded and grown multiple billion dollar (US) international companies and contributed in a broad range of industries and technologies. His work spans computer, consumer electronics, aviation and biotech instrumentation industries.

Jim has been a seed, founding or early stage investor and/or Board Director with over 20 successful companies. He graduated from San Jose State University, California, with a B.S. degree in industrial engineering and management and has been issued five US (and related international) patents. Jim’s longest professional interest, deepest roots, first employment and current primary business focus is in aviation. He has been an active private pilot for over 30 years.

Jim began his career as a second generation engineer at United Airlines (SFOEG, now MRO HQ) in San Francisco as a cabin equipment safety engineer. Following service in the US Air Force (Reserve,) his career moved into engineering and marketing in the computer industry with IBM, Kodak and Xerox and the consumer electronics field with Textron and RCA in early video recording. Jim’s entrepreneurial career began with the co-founding of two venture capital funded, international and highly successful ($B+) computer storage start-up companies in the 1980’s, Quantum and Maxtor. He was President, CEO and Chairman of Maxtor for 12 years, through its IPO and eventual sale to what is today Seagate Technology. He currently serves as Chairman of Pliant Technology, Inc., an early stage enterprise computer SSD storage company in California.

In 2002, Jim began aviation business development projects in general aviation, working primarily in new green, low cost, extreme efficiency turbine propulsion concepts. Initially allied with a major GA airframe designer, this work eventually encompassed a wide range of programs including a NASA SATS Project and DARPA subcontractor, a turbine engine design spin off from Pratt and Whitney, an Asian nation’s national transportation and economic development ministries, major VLJ developers in various systems, Stanford University, and a major computer industry X-Prize sponsor in a low-pilot workload, high efficiency helicopter design. Jim is an active angel investor and limited partner in numerous (US) venture capital funds, serving as an advisor to several. He has been a part of dozens of equity and debt financings and liquidity events for young companies including transactions with multiple merchant and investment banking organizations.

Be part of an innovative, edgy NZ film and help nurture te reo Māori in Aotearoa NZ – Shakespeare’s Othello set in NZ in 1794.

The Pitch:

Tena Koe.

Te Taipo is a psychological thriller set in 1796, with all the intrigue, romance, action and drama of any contemporary story.

Te Taipo (Othello) is a pakeha ex – British naval officer now living amongst a hapu. It tells the tragic tale of his love for Teremoana (Desdemona) and the deceit created by Ikaaho (Iago) who convinces him that his love is unfaithful resulting in tragic circumstances.

We have a script that is currently of being translated into contemporary english from Elizabethan english, and from there it will be translated into te reo.

While based on Othello, this script has two distinctions – it is all in te reo and it is now immersed in a Māori world view. I have adapted the script and Brad Haami (acclaimed writer and current recipient of the Michael King writer’s award) has translated the story in a Māori context. This is now a New Zealand story – a pre-colonial psychological thriller!

In the last 12 months we have been working with producers from NZ and overseas but things have not moved – we have decided to produce it ourselves. We have attracted high calibre crew and cast, and intend to shoot in January / February 2011. This follows on from a stage play of the script we are producing in Auckland at TAPAC in October this year. This will give us an unprecedented 8 weeks with the cast to rehearse and work with the script before going into principle photography.

We have decided to go independent as we feel the integrity of the piece may get lost in the process that involves outside producers who do not understand our kaupapa.

In order to make this we need to raise $512k for our production budget.

We are keen to find investors that believe in the kaupapa of the project, who have an interest in seeing NZ stories on screen and who may have some capital that could be invested. We are a charitable trust with donee status so if classed as a donation, 1/3 can be claimed back. It could also be written off under sponsorship.

We are currently talking with Te Hana Community Development Charitable Trust about working with them at their new development in Te Hana and using that as a location for the film. They are recreating a 17^th century Maori pa and village which match our vision for the project. This is a wonderful location and authentic – this matches our kaupapa of representing the time accurately. These conversations are still at the early stages but we are confident that a relationship can be formed for this and other projects.

We are working towards filming in the late summer of 2011. The reason for this is that the cast will be fresh from a season of the play in November 2010 which offers up an unprecedented rehearsal time. The play is an adaptation of the film script, rather than of the original Shakespearian play.

We have worked a budget that is lean, but realistic. The play also offers us preproduction time, and costume and properties will be created that can be utilised in the film. The play is separately funded.

The team have experience in the creative arts and are committed to seeing stories in te reo told on our big screens in Aotearoa and around the world.

We plan to enter it in the foreign language film categories of the major festivals as these rely on submissions from each country rather than other selection processes. We are confident of producing a high quality film with outstanding cast and crew offering high production values and top performances.

Accomplishments to date:

As they say in this industry, you are only as good as your last project. In my case, that was “te Whare / The House” a low budget short film. Made in 2008, these are the festivals and awards since:

IMDB – http://www.imdb.com/title/tt1527758/

• Premiered February 2008 Maori Television (Prime Time Waitangi Day)
• Denver International Indigenous Film Festival 2008
• Northampton International Film Festival 2008 – Award Winner – Special Commendation (5 awarded out of 100 entries)
• Metro Film Festival 2008
• Wairoa Maori Film Festival 2009
• Parihaka 2009
• Aluta Film Festival Africa 2009 (also used as part of an outreach programme into schools)
• STEPS international Human Rights Film Festival 2009 – Awarded: Honorary Doctorate and Jury mention
• Honolulu International Film Festival 2010 – Award Winner – Silver Lei Award for Outstanding Film making

Development plans:

• Currently working on final version of the script
• Casting for the main roles has taken place – we have an Academy Award nominated actress in one of the lead roles
• Location scouting has occurred – the two key locations are nearly finalised
• Seeking a distributor
• Much of the development of the pre production is being done via the production of the play which is separately funded. This is based on the film script not the original Shakespeare work. During this time we get extensive rehearsals with the cast, props made, costumes designed and produced and script development accomplished. Filming will be made easier by the fact we have an unprecedented time with the actors working the script.

Key Challenges:

• Going against the grain and doing the film ourselves
• Finding suitable, affordable locations
• Not compromising the integrity of the project through self funding but not allowing self funding to compromise the integrity and quality of the project
• Utilising creative knowledge to problem solve issues that would be easy to solve if we were making a Hollywood blockbuster
• Ensuring the kaupapa is maintained and everyone on the project is looked after

Principals & Previous Experience:

Richard Green – Director/Writer/Producer

Apart from Te Whare:

Since 1994 directed over 14 commercial videos and broadcast material including Windows 95; Bunce Motors; Manukau City Council (2); Cornucopia; Direct Contact; Arcadian Films; NZ Green Party; Auckland Philharmonia(Spike Video); Orthotic Centre.

Film Training

1993 South Seas Film and TV School

• Presenting and Interviewing A+
• Directing A+
• Production A
• Scriptwriting A-
• On Screen Acting B+

Theatre – Directing

1986 – 1988 5 productions for MTS; Levin Little Theatre and Theatre Arts Workshop

1988 Summer Production – The Coarse Actors Show – Cabrillo Playhouse, CA, USA.

1991/2 Bullshot Crummond and Macbeth – Glen Eden Playhouse

1996-current 18 Productions for Ugly Shakespeare Company National Tour (Also writer on these projects) www.ugly.org.nz

1997 Macbeth – Hawkes Bay Summer Shakespeare

1998 Midsummer Nights Dream – Hawkes Bay Summer Shakespeare

Brad Haami – Writer

Bradford Haami is originally from Whakatane and is affiliated to the Ngāti Awa tribe of that region. He is a journalist, a researcher, a published author/writer, a TV producer, director, as well as a script editor for Films with Maori content. He is currently co-director with Ngamaru Raerino and Pio Terei of 4 Winds Films Ltd. He began in the television industry as a journalist with Maori programmes at Television New Zealand in the mid 1980s for shows such as Koha, Marae, Waka Huia, the inaugural Maori sports awards. He was one of the original directors and creators of TVNZ youth music show Mai Time. In the freelance world he has been involved in the documentaries, ‘Tapu’ (TV ZOO, 2000). Pukukata: The Last Laugh (Greenstone Pictures) a documentary on Maori Humour that gained the highest rating for any documentary for TV 1 in 2002. He also co-produced Tokyo Bros (Drum Productions October 2002) and directed a one hour documentary Nga Tokotoru (The Film Ltd August 2002). He was the reporter and Maori advisor for a documentary on the life of essential Maori entertainer Dalvanius Prime and he was the exec producer for a documentary on Transgender social worker ‘Mama Tere’(Visionary Television). More recently he has been a director/writer for the TV 3 youth show Pacific Beat Street the most aired show on NZ weekly television. (Drum Productions 2008/2009) In the drama world Brad was co-writer, co-creator, and co producer with Carey Carter of the successful 20 part Maori drama thriller series Mataku.(south Pacific Pictures/4 Winds Films Ltd 2001-2005) He also co-wrote and directed Po raruraru (July 2001 – Aroha Productions) as part of the recent Aroha drama series. He has been a story-line contributor to the half hour satirical show ‘Spin Doctors 1,2,& 3’ (August 2001). He was associate producer/Maori advisor and director of one episode of the 10 part Maori docu/drama series ‘Taonga’ which aired on TV 1 in 2006 (Greenstone Pictures 2005/6). He was producer of a short film called ‘The Rap’ (Directed by Joseph Lee 2008) and presently of Waimarie a long term Maori drama series in development for MTV (4 Winds Films 2007-2009). Brad has been a Maori script consultant and editor to many television drama and feature filmscripts including, Shortland st, Mercy Peak, Mataku, Kaitangata Twitch, Prey of Birds, Matariki and a number of over seas films including ‘The Man Who Lost His Head’ (SPP and Greenlit productions UK 2007) ‘Behind the Tattooed Face’ (Polywood Productions 2006/7) and Tracker (Digital Films Ltd 2009). He has lectured for many schools, institutes and organisations on the subjects of Maori storytelling in film and television, writing, Maori history and Maori epistemology. Brad has also worked in a number of other creative arenas. From1998 – 1999 He was Maori consultant to the Creative Director of the Maori Natural History Gallery at The Auckland Museum and in 2006 he was employed as Matauranga Maori consultant to Te Papa’s new Whales of the South Pacific exhibition which opened in December 2007.He has published books and essays some of which are; “Dr Golan Maaka: Maori Doctor” (Tandem Press 1995); “Mate-tau: Traditional Maori Love Stories” (Harper Collins1997), Haami & Roberts,“Genealogy as Taxonomy”, International Social Science Journal no.173, Sep 2002 (UNESCO/Blackwell Publishing), Roberts, Haami, Benton, Satterfield, Finucane, Henare & Henare, “Whakapapa as a Maori Mental Construct: Some Implications for the Debate over Genetic Modification of Organisms,” The Contemporary Pacific, Vol 16, Number 1, 2004, pp1-28 (University of Hawaii Press), Putea Whakairo: Maori and the Written Word (Huia Publishers 2004). He was the main author alongside Tuhoe Isaac and self-published ‘True Red, The Life of an ex-Mongrel Mob Leader’ (True Red 2007). More recently he also researched and wrote “Urutahi – Guidelines for Working with Maori Communities in Film and Television’ (Nga Aho Whakaari 2008).He is currently in development producing a long term Maori drama series for Maori Television and writing a book on Whale traditions of the Maori. Current recipient of the Michael King Writers Fellowship for 2010

Mark Lapwood – Cinematographer

See www.marklapwood.com

Tainui Tukiwaho (Te Arawa, Tuhoe) – Producer

Tainui Tukiwaho is a graduate of the Unitec Bachelor of Performing and Screen Arts and has been working as a professional actor over the past decade on screen and in theatre. Tainui took over as Director of SmackBang in 2008 with Charles Unwin.

Tainui has been directing and producing works for SmackBang since early 2008 for the annual Playright festival and for many of our weekly productions in the K-Road Project at Te Karanga Gallery on Auckland’s Karangahape Road. He has had success as an independant director of Catalyst Theatre’s A City of Souls in September 2008. Also in 2009 as Producer and Assistant Director of Renee Maihi’s debut work, Ngā Manurere, working with Katie Wolfe as Director. He has recently come off directing The Example for the 2010 Short and Sweet New Zealand Festival and has directed the 2010 Ugly Shakespeare Schools tour based around MacBeth and Othello. He is also currently in pre production as producer of Kevin Duncan’s Flipside in March 2010 and Albert Belz’s Raising the Titanics developmental season in June 2010.

Tainui has a passion for and great knowledge of Shakespeare’s works. Tainui has performed in As you like it in 2000 with Director Raymond Hawthorne. In 2003 and 2005 he played various charaters in Romeo and Juliet and Hamlet for the Ugly Shakespeare Company’s national schools tour . In 2005 Tainui directed Much Ado About Nothing for Mt Albert Grammer School. In 2008 Tainui read two of Te Haumihiata Mason’s translated sonnets for National Radio in and was invited to attend the Bridge Project’s tutorial for professional practitioners of Shakespeare’s work, held by Simon Russell Beale.

Amber Curreen (Ngapuhi) – Co-Producer

Amber has been working as an actor in screen, and more recently theatre, over the last nine years. Amber joined SmackBang in 2009 and is currently facilitating the new development sector of the company. She has successfully organised and facilitated an array of workshops and play readings for SmackBang over the last seven months. Amber is an intermediate level speaker of Te Reo Maori and will function as the onsite facilitator and SmackBang representative at the weekly classes and will be developing her production skills as co-producer Te Taipo.

What they want from an investor:

We are looking for people who are keen to see NZ stories and film be successful, who have an interest in the creative arts, who see the investment as one which is not just financial, who want to support and nurture some of the best rising talent in the film industry in NZ and who believe that te reo Maori is an important part of our heritage to be nurtured.

We would be happy for 10 investors of 50k or 5 of 100k or 1 of 500k. All investors will get an Executive Producer credit.

Who the offer is open to:

Suitably experienced angel investors who are eligible persons as defined in the Securities Act or who would otherwise be exempt from the requirements of Part II of that Act.

Contact details:

Richard Green – Producer
Mob: +64 21 655 633
Email: Richard@ugly.org.nz

New Zealand Trade and Enterprise have just published a great video interview with Greg Cross, the founding chairman of the Beachheads programme.

Greg identifies a number of areas where Kiwi companies wanting to make it overseas need to improve:

• Exploiting the Internet and e-commerce to give ourselves a much larger footprint, and make us seem to be local
• Pitching ourselves – we tend to undersell ourselves and don’t tell simple enough stories
• Acquiring enough capital to go offshore – it always takes twice as long and costs twice as much as you expect
• Governance – we tend not to have strong independent boards

Watch the video – it’s Greg’s experience with 160 companies distilled into five crisp minutes.

In the last post, I described the two most important characteristics of a fundable deal, that is, the entrepreneur/management team and the scalability of the business model. So what are the additional features that can make or break an entrepreneur’s business plan?

• Angels prefer to invest in local companies. Why? Angels want to be able to kick the tires before investing and then coach, mentor and serve on boards of directors of portfolio companies. Considering that most angels are part-time investors with multiple interests, investing in companies near home just makes sense.
• Angels fund ventures with customer-ready products or services. Investors want to talk to customers or potential customers to confirm that the product or service meets an important need – a “must have” for users. Angels invest in painkillers, not vitamin pills. Entrepreneurs with products that are not quite customer-ready should be self-funded with the help of their friends and family.
• A competitive advantage is important to angel investors. This could be a patent, trade secret or huge head start. Investors do not fund companies with products that can be easily duplicated by more mature companies with deep pockets.
• Angels seek companies with solid sales and marketing plans. Too many entrepreneurs assume that products or services will sell themselves, which is never true. Angels want to fund entrepreneurs who understand the channels to be used for reaching customers with their products.
• Angels expect entrepreneurs to have an exit strategy that will enable both the entrepreneur and investors to sell the start-up within five to 10 years to a larger public company, providing all shareholders with a substantial return.

It’s a GREAT time to be an angel. Find a group and jump in!

Bill Payne is the 2010 BNZ University of Auckland Business School Entrepreneur In Residence. www.billpayne.com