Mike Hutchinson – ICE Interactive (Quoting a Tongan cleaner):

Everyone needs:

• Something to do
• Someone to love
• Something to look forward to

Leigh Jasper and Rob Phillpot – Aconex

• Get the right people, and move the wrong ones on quickly
• Defend the culture
• Be born global
• Know your industry
• You can’t skimp on service
• Maintain your independence and level the playing field
• Strategise the network
• Align participants’ incentives through the business model

Mark Stuart (WaikatoLink) and Brad Duft (CoDa Theraputics)

• Fundraising reality: No IP, no money
• Deal-making reality: No IP, no deal
• Innovation = invention + commercialisation;

Andy Lark (Dell)

• A CEO dedicates on average 9 minutes to each decision
• The quality of your [social] network is a predictor of your success. You are your network.
• It’s not how many awards you get, it’s how many recommenders you have.
• Authenticity matters

Ten tips:

• Communicate abnormally to be noticed
• Timing is everything
• Turn up – there’s no substitute for being there in person
• Plan the pass on – if you’re asking for a reference, write that reference
• Avoid communication constipation
• Cold calling rarely works
• Nurture your network; don’t be needy
• Respect rejection
• Work your story

Conceived and managed by WaikatoLink, AngelLink is a new national angel investment network specifically designed to commercialise intellectual property from universities and CRI’s, and is backed by the country’s most experienced and well-resourced hi-tech and biotech investors.

It brings New Zealand angel investment to the next level.

This is exciting news for a number of reasons:

• Movac, K1W1, Sparkbox, Neville Jordan, Waikato University, AUT, and SCIF are coming together to actively collaborate. While these players have co-invested with each other on a tactical basis before, this is the first time they’ve all agreed to work together in a more formal, strategic framework.
• Research institutions generate considerable intellectual property that until now has never seen the light of day, due to limited resources and commercialisation experience in the niche investment spaces and geographic locations that they occupy. A national network will increase the likelihood of successful commercialisation of some of New Zealand’s best IP.
• Conversely, angel investors nationwide have had limited access to university-sourced IP. AngelLink will give access to opportunities to a wider group of experienced investors.

The common theme is that all of the stakeholders – inventors, entrepreneurs, incubators, investors, and government – all understand that there are huge gains to be realised by working together, and have the appetite to make it happen. People realise that the pie can be made disproportionately bigger by relinquishing some ownership and control.

There’s a word for that – maturity.

And the experience and professionalism is evident from the start. AngelLink achieved SCIF accreditation prior to launch. Although based in the Waikato, they chose to launch at NZX in Wellington to underscore the national nature of the network. AngelLink is not a small club of wealthy dentists and farmers. At the launch, Chris de Boer, AngelLink’s chairman, said that he’d never seen such a broad spectrum of New Zealand investors in one room, ever. The gathering included people like Wayne Mapp (Minister of Science Research and Technology), Mark Weldon (CEO NZX), Franceska Banga (CEO NZVIF), Sir John Anderson (Chancellor Waikato University), Jim Bolger (Chairman NZ Post), Neville Jordan (Endeavour Capital), Mark Stuart (CEO WaikatoLink), Greg Sitters (Sparkbox), Phil McCaw and David Beard (Movac), Suse Reynolds (Angel HQ), John Errington (CEO VicLink), as well as a number of familiar faces from the local Wellington angel scene. Exposure to the entire investment food chain is compelling.

Chris said that they already have pipeline with four deals ready to go on day one.

There is some potential risk in setting up a new national angel network that has some overlap with the existing regional clubs. Some of New Zealand’s fledgling angel clubs are struggling to achieve and maintain critical mass, both in terms of investment capacity and ability to attract quality opportunities. But that shouldn’t be a problem so long as AngelLink sticks to institutional IP, and doesn’t compete with clubs for deals coming from local incubators and garage entrepreneurs. Syndication is all about sharing expertise, resources, risk and reward in such a way that everyone benefits.

And if AngelLink continues in the same manner as it has started, everyone will benefit from commercialising previously hidden IP.

New Zealand will be the winner.

WaikatoLink Chief Executive Mark Stuart says, “Good networks and support services are vital for growing New Zealand businesses wanting to achieve success in overseas markets.  Singapore provides a great leveraging platform for our technologies and ventures, particularly due to their interest in innovation and collaboration.  There is also an abundance of private sector capital to tap into.”

Icube will help start-ups from WaikatoLink, the commercial arm of the University of Waikato, and other participating incubators find business partners, customers and investors in the South East Asia market.

New Zealand Foreign Affairs Minister, the Hon Murray McCully, was a Guest of Honour at the Forum to witness the signing of the Memorandum of Understanding between Exploit Technologies and the new partners.  The agreement outlined collaborative activities and services designed to help start-ups increase their global presence, including: provision of a virtual international office, use of office space, extended international incubation for business engagement or research and development, mentoring and advisory services, and access to angel networks.

Mr Boon Swan Foo, Executive Chairman of Exploit Technologies said, “In recent years, the number of global start-ups is growing; and the collective potential of global start-ups as a powerful economic engine begins to emerge. Having a robust network of partners who can provide support services to homegrown start‐ups overseas will eliminate some of the risk for these new entrants.”

WaikatoLink currently has nine high potential subsidiary companies under incubation.  WaikatoLink’s successful incubator, VentureLink, has operated for a number of years for ventures based on University of Waikato science and technology. WaikatoLink’s incubation expertise was opened up to entrepreneurs and other organisations last year as part of the university’s commitment to innovation and regional economic development.

WaikatoLink’s Icube membership builds on other global linkages the company has established recently.  Last year WaikatoLink partnered with Tsinghua University in Beijing to open up a commercialisation pathway into China; secured a relationship with the Market Access Centre in the US; and joined Singapore’s Technology Transfer Network (TTN), an international alliance formed in 2008 to accelerate the commercialisation of technology to industry.

WaikatoLink’s Mark Stuart was also invited to present at the New Zealand Business Forum on New Zealand’s world‐leading research capability in biotechnology and the fit with Singapore’s science commercialisation expertise and resources. The presentation and panel discussion outlined thriving partnerships already in existence and considers possibilities for future cooperation.