Health Tech Investor Roundtable

Investing in Early Stage Technology

Kevin Sheehy, health tech strategy consultant at Genulin Consulting Limited, invites you to a roundtable meeting where industry experts will share their knowledge of the local investment opportunities.

Date: Thursday 21 September Time: 13h00 to 17h30
Venue: ChristchurchNZ (New Premises); BNZ Centre; Level 3; 101 Cashel Street

The New Zealand Health Technology Review 2016 identified capital raising as one of the top three challenges facing local companies. Many local companies are seeking early stage capital and cornerstone investors familiar with their challenges. Investing in local health technology offers
excellent potential for access to major international markets for those that can successfully grapple with the sector’s risks.

The roundtable aims to increase investor confidence in assessing early stage health tech opportunities and how to structure companies for success.
We have a fantastic group of speakers (Bios below) who will share their views and case studies on:

• The global health landscape – where are the pain points;
• Why NZ health tech is a great opportunity;
• What success looks like in health IT, medical devices and biotech;
• Partnering through seed and VC stages in the health tech sector.

Programme:

1pm: – Kevin Sheehy – Director Genulin Consulting Limited
Introduction – Health system opportunities and challenges

1:30pm – William Lee – Commercial Director, Canterbury university Research and Innovation
Investment in NZ Health start-ups: how to partner with Universities

2pm – Duncan Mackintosh – Medical Research Commercialisation Fund – Brandon Capital
Overview of the MRCF funds and collaboration, with lessons learned.

2:30pm –  Dr Phil Kearney – Director External Licensing, Merck Sharp & Dohme Australia|
What opportunities are on the MSD horizon

3pm – Kimberlee Jordan  –  National Technology Network Manager for Biotechnology, Callaghan Innovation
The opportunity in biotech and some NZ successes

3:30pm – Break for tea

4pm – Investment Manager Powerhouse ventures
What is different about health tech for an investor

4:30pm – Paul Morrison – Managing Director Ossis
Taking a medical device to the US, the capital needs

5pm – Roundtable discussion co-chaired by Duncan Mackintosh and local Angel Investor
What investors face in health tech.

5:30pm – Networking drinks

The aim of the meeting is to help the local investor community better grapple with the opportunity in health tech. We hope to be able to build investor confidence through knowledge of how to approach investing in health technology in New Zealand.

We have some great local and Australian speakers and should have a good cross section of people around the table for robust discussion on the day.

RSVPs and queries should be directed to kevin.sheehy@navigator.healthcare

As numbers are limited to 20 attendees, we’ll be allocating places to those who RSVP first.

 

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CO.STARTERS – Help grow businesses on the West Coast!

Would you like to:
Grow and Develop Businesses in Your Community?
Empower Individuals with the Tools and Skills required to Thrive and Succeed?
Develop or Refine your Business?

Development West Coast with support from West REAP and Buller REAP would like to assist people in the West Coast region to explore and develop business opportunities. To aid in this we are expanding the highly regarded CO.STARTERS business start-up and development programme across the West Coast region.

To assist in this we are looking for experienced business owners, business service professionals and community leaders that would like to help West Coasters with developing or growing their business.

About CO.STARTERS:

CO.STARTERS is a nine-week cohort based program that equips aspiring entrepreneurs with the insights, relationships and tools needed to turn ideas into action and turn a passion into a sustainable and thriving endeavour. This program is based on the Business Model Canvas incorporating Lean Start-Up methodology which has been used by highly successful entrepreneurs and corporations around the world. CO.STARTERS utilises and develops locally based facilitators and mentors, while bringing in expert guest speakers for inspiration and guidance.

Get Involved:

We are now looking for people throughout the West Coast region that would be interested in being involved in the CO.STARTERS programme. Including experienced business people keen to be involved and trained as facilitators, mentors and guest speakers.

If you are interested in getting involved in supporting the Co.Starters programme, or find out further information contact:

Development West Coast  Bridgette Sara – Bridgette@dwc.org.nz
Buller REAP                       Emma Sherie – emma@epicwestport.co.nz
West REAP                        Belinda Conn – costarters@westreap.org.nz

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New Zealand Angel Investment Showcase

Six years, 78 startups, 60 funded with $24.9m from Showcase investors. $384m raised by Showcase Alumni. Three IPOs.

Our companies and the Showcase have come a long ways since we launched in 2011. This year we’ve grown into the Viaduct Events Centre to host 500 investors and 12 startups.

6.00pm Thursday 21st of September
Hosted at Viaduct Events Centre, 161 Halsey Street

This is an invite only event. Please email here to get an invite and secure your place.

 

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Shamubeel Eaqub: Thoughts on New Zealand’s economy in a global context

Global From Day One Fund 2 welcome you to join us for an informal discussion with Shamubeel Eaqub, one of New Zealand’s leading economists and market commentators.

Shamubeel will discuss the outlook for the economy and the savings and investment picture in New Zealand compared to other advanced economies.

Shamubeel is an experienced economist who makes economics easy. He is a thought leader unafraid to take a contrarian view and is a respected contributor to media, government and business sector discussions on economic and strategic matters.

Shamubeel has authored “Growing Apart: Regional Prosperity in NZ”, co-authored “Generation Rent” and “New Zealand Economy: An Introduction” and contributed to “Once in a Lifetime: City-building after a Disaster in Christchurch”.

Location: L22 PwC Tower, 188 Quay Street, Auckland
When: 29th August, 2017
Time: 5:00pm – 7:00pm

Agenda:
Arrival Drink 5:00pm – 5:15pm
Seminar and Q&A 5:15pm – 6:45pm
Networking and Cocktails from 7:00pm

RSVP: micaela@gd1apac.com

 

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AANZ Exits Workshop

The AANZ ‘exits workshop(s)” are a unique opportunity to get really practical insights and tips on angel portfolio management. AANZ Chair, Marcel van den Assum, Bruno Bordignon from Avid Legal and David Wallace from Armillary Capital have a wealth of hands on experience and war stories to share. In the morning (9.30 to midday) you will cover how to best set up a venture for exit, how to prepare for deploying investment bankers and in the afternoon (12.30pm to 3.00pm) we will discuss a terrific gating tool for portfolio management and some really practical tips for how to get out of deals that aren’t doing what we need them too. The afternoon session will include KPMG and AJ Park practitioners who will also be heavily focused on the practice not the theory!

Lunch will be provided at midday and you can choose to come to morning or afternoon sessions or the whole day. Whole day $300 and half day $150.
August 15th – Auckland
August 16th – Tauranga
August 17th – Wellington
Register here.
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AANZ 2017 Exit Workshop

Exit Strategy Workshop
Improving your odds of return, preparing for trade sale, divesting your portfolio of non-performers

This one day workshop will be separated into two sessions.

In the morning the focus is on driving for exits – what active portfolio management to improve the odds of liquidity looks like. This includes delving into:
• Capital strategy considerations required for acquisition or IPO;
• How to position the venture acquisition or IPO; and
• How and when to engage an investment banker.
We will hear from investor-directors who have recently exited an angel backed venture.

The second session will focus on knowing when and how to get out of under-performing ventures. NZVIF will provide an overview of the Seed Co-Investment portfolio, setting the context by explaining what proportion of your portfolio you should expect “not to make it”. We then explore the various options for “liberating” your capital and capability from those under-performing ventures, including the conversations and practical steps required.

Course presenters include AANZ Chair, Marcel van den Assum, AANZ Expert Partner Avid Legal’s, Bruno Bordignon, NZVIF’s Bridget Unsworth and Armillary Capital. And, as mentioned, you will also hear from some of our more recently exited investor-directors who have “actually done it”.

We understand you may not have time to attend the whole day so you can choose to attend either or both sessions. Pricing: $300 (incl GST) for the day or $150 (incl GST) for either the morning or afternoon. Lunch included for both sessions.

Registration: Click here to register directly on the AANZ website

Date:
15th August – Auckland,
16th August – Tauranga
17th August – Wellington

Filed under: Events

The Treatment Of Women And The Role Of Diversity In Angel Investment

Shabby, unkind and unprofessional treatment of women by men (and sometimes by other women) whether in venture capital or more broadly is unacceptable. While women have had the rough end of the stick for hundreds of years, being treated fairly and kindly should not be gender specific.

It is not about being a woman or a man or even religion or ethnicity. It’s about the values we choose to live by and which values give us a greater crack at success – however we define success!

How we treat each other and the importance of diversity is about a set of values and two values in particular – kindness and respect.

Supporting and scaling start-ups is no walk in the park. It’s often challenging and down right terrifying – for founders and investors. The fear of failure and rejection is always skulking in the shadows of fund raising, closing a sales deal and hiring senior employees. It’s anxiety inducing.

More kindness and respect would not go amiss. The AANZ believes both are key components of success, particularly when it comes to successfully scaling high growth startups.

We need to acknowledge that tough conversations are often necessary in our world. These may feel unkind but the pain can be minimised if respect and empathy – without bias – are at the heart of these conversations too.

Values complimenting kindness also support the importance of diversity. Kindness requires open-mindedness, curiosity and exploring different points of view. Successful founders live these values and these values are at the heart of the informed pivot and the ability to create and build value.

Kindness must underpin ensuring there is diversity in our deal flow, at our events and in our governance. Diversity mustn’t be about tokenism or ticking a box. Delivering diversity is about trying and looking harder to ensure it exists. It’s about valuing people to create value. We should select women (or Maori or Chinese or Buddhist) founders, speakers and board members based on their ability to shine and help others to shine. To do anything other than this is unkind – to everyone, and especially to the ‘box tickee’.

The AANZ Code of Conduct can be found here. We have added two clauses to the behaviours we expect. They are to be:
– Kind and respectful, and
– Supportive of diversity

As an industry we take responsibility, individually and collectively, for reflecting the behaviours set out in the Code of Conduct. We will talk quietly to those we are worried might not be reflecting these. We are not advocates of naming and shaming. That’s not kind or respectful.

The AANZ Constitution, however, makes it clear that our members must be “of good standing in the angel investment community” and there is provision for members to be expelled when this is no longer the case. The profound potential for common good inherent in angel investment is squandered when the self-interest reflected in unkindness is prioritised.

We all have circles of inspiration and impact – we must be the change we want to see – it’s powerful stuff.

Onwards…

Suse Reynolds
AANZ Executive Director

Filed under: News

Canterbury Angels in the media

Heavenly manna from angel investors

The Canterbury Angels startup investment group is on the hunt for startup investments following a recent agreement with the New Zealand Venture Investment Fund.

The partnership means when Canterbury Angels invest in a new company, NZVIF will match it dollar-for-dollar, according to local Angels chairman Ben Reid.

The taxpayer-funded NZVIF was set up by the government in 2002 and has $280 million invested in various companies in funds.

Canterbury Angels is one of several private investor groups around the country, overseen by the Angel Association of New Zealand.

Reid said the partnership with NZIF would run for around four to five years, investing into 10 to 15 young companies over the first 18 months.

The first qualifying company is Notice Match, a business that compiles details of people who have died, and making them available to businesses to keep their databases up to date.

Canterbury Angels has about 40 members and invites investee companies to make presentations – the sooner the better because of the time lag in achieving investment, Reid said.

Angels are professional or habitual investors as defined under securities legislation and will invest between $10,000 and $100,000 in a deal, which may be syndicated with other Angel investment clubs.

Reid echoed the sentiments of many in the startup sector – Kiwi investors were too focused on more immediate dividends.

Examples of startup investments include the Powerhouse group, seed funded from a Christchurch City Council endowment fund and 22 per cent owned by the council’s Canterbury Development Corporation.

Powerhouse subsidiaries HydroWorks and CropLogic, are currently seeking funds to list on the Australian Stock Exchange which they believe will be closer to markets and funding sources. Startups also often receive money from other government funders like Callaghan Innovation.

Many startups commercialised research from Canterbury and Lincoln universities, and Reid said the angels also worked with other governmental and business-subsidised startup supporters including EPIC, Lightning Lab, Greenhouse, Vodafone Xone, and Ministry of Awesome.

These group are facilitators with drop in centres to facilitate networking.

The Canterbury Angel investor group included directors Shane Wakelin, Joan McSweeney, Ria Chapman, Mark Cathro, Raphael Nolden, Ian Douthwaite, and SLI Systems co-founder Geoff Brash.

Meanwhile, NZVIF allocates $2.8m a year for Crown seed investment, and provides reports about the companies and the amounts they have received.

Forty six per cent of the companies were software companies, 14 per cent biotechnology, 7 per cent technology hardware, 5 per cent healthcare equipment and service, and 5 per cent produce capital goods.

Since 2002 the government NZVIF has invested in more than 211 companies through partnerships with venture capital funds and angel networks, and those companies have raised a further $1.9 billion from private investors.

Craig Hudson, the country manager of accounting software firm Xero, said research identified 36 per cent of small businesses in Canterbury are most concerned about cash flow, and 42 per cent say administration takes the most time. Securing new business is the main concern for most sme’s.

All small businesses should be moving bookkeeping and accounting to cloud systems, Hudson said.

See original article here.

Filed under: News

Aussie VC Tour – New Zealand’s Best Tech Startups

Amazon Web Services and New Zealand Trade & Enterprise are teaming up to bring over some of Australia’s best venture capitalists, representing funds totalling over $2bn, to New Zealand for a pitch roadshow in late August.

We know there’s a vibrant startup ecosystem in New Zealand, but growth capital is still hard to come by.

A tour like this hasn’t been done before, but we’re extremely optimistic about the opportunities it presents for the local startup communities.

Encouraging entrepreneurship and deal-flow is the core reason for this tour….so if you’re a tech startup seeking funding, or planning to raise in the near future, this is a fantastic opportunity.

Applications are now open for the best of New Zealand’s tech startups to pitch to Australia’s best venture capitalists in:

  • Auckland on Thursday, 24 August: 12 of the best tech startups will pitch – 6 over breakfast and 6 over lunch
  • Wellington on Friday, 25 August: 6 of the best tech startups will pitch over breakfast

Selection Criteria:  The only real criteria is that you must have a tech business to apply, and that you’re currently raising (or planning to raise in the near future) – anything from Seed to Series B.

Follow this link to apply.

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Launch of Angel Investors Marlborough

Business Trust Marlborough & Angel Investors Marlborough invite you to join them for cocktails in celebration of two important new Marlborough initiatives:

  • The Launch of Angel Investors Marlborough (AIM)
  • A Preview of Inspire Foundation Marlborough

With official welcome from Marlborough Mayor John Leggett. Come be a part of Marlborough history in the making!

When: Thursday August 3rd 5:30 to 7pm (guest speakers from 6pm)
Where: The Whitehaven Room, ASB Theatre, Blenheim

Please feel free to bring along a partner or colleague
RSVP with numbers by Friday July 28th.

Angel Investors Marlborough (AIM) is a recently incorporated society whose members are locally based seasoned investors, business people and entrepreneurs, who seek to assist early stage businesses by providing capital, expertise and contacts to support future growth plans. Investments ranging from $50k to $1m will preferably be in Marlborough but AIM will also consider other NZ and international opportunities.

Founded by locally based entrepreneur, Richard Coon (Partners Life), AIM currently has 30 members, who all qualify as wholesale investors.
AIM work closely with Business Trust Marlborough, who run the Government’s Business Mentor programme in Marlborough. AIM is a member of the Angel Association of New Zealand.For more information please check out the AIM page on www.businesstrustmarlborough.co.nz or contact the Manager via email.

Filed under: Events, News