sharing angel experiences in new zealand
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Sharing Angel Experiences in New Zealand. Bill Payne Entrepreneur, Angel Investor, Educator. Engineer/manager for Fortune 1000 – 10 years Built and sold a materials science company to E. I. DuPont Invested in >50 startup companies in 30 years - PowerPoint PPT PresentationTRANSCRIPT
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Bill PayneBNZ University of Auckland Business School
2010 Entrepreneur in Residence
Sharing Angel Experiences in New Zealand
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Bill PayneEntrepreneur, Angel Investor, Educator
• Engineer/manager for Fortune 1000 – 10 years• Built and sold a materials science company to E. I. DuPont • Invested in >50 startup companies in 30 years• Entrepreneur-in-Residence for Kauffman Foundation for 12 years• Delivered over 100 workshops on angel investing in 35 states and 7 countries
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Agenda2010 Visit to New Zealand
• Introduction• Sponsors• Activities• Outcomes• Cost• Summary
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Introduction
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“I APPLAUD THIS TYPE OF INITIATIVE. IT CREATES BRIDGES OF KNOWLEDGE AND TRUST – TWO CRITICAL CRITERIA FOR SUCCESSFUL ANGEL INVESTING BOTH FOR THE INVESTORS AND THE ENTREPRENEURS.
I RECOMMEND WE USE THIS EXPERIENCE AS A GUIDE TO REPEAT IT AROUND THE WORLD.”
Brigitte BaumannPresident EBAN
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United Kingdom New Zealand
Land Area 242,900 km2 270,464 km2Coastline 12,429 km 15,134 kmPopulation 62 million 4.4 millionLength 700 km 1400 kmProximity to equator
London5700 km
Auckland4100 km
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Building Relationships
• Met key players in 2004 in Sydney• Strengthened relationships at
international angel meetings• Was invited to NZ to deliver
seminars in 2006 and 2008• Was invited to return to NZ in 2010 with
my wife for five months of work and play• Returned to NZ in 2011 for five weeks
www.billpayne.com
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Objectives• Assess the Kiwi entrepreneurial landscape• Broaden awareness of angel investing and the
importance of entrepreneurship in NZ • Provide investor-readiness education• Deliver investor education to new angels• Mentor Kiwi angel groups on best practices– deal flow management – group operations
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Overview
• 28February through 2July 2010• Visited 12 towns and cities in 5 months• Mentored startup entrepreneurs• Delivered public lectures• Interviewed by the press• Lead best practice meetings of angels• Delivered angel/entrepreneur seminars
www.billpayne.com
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SponsorsA Public-Private Partnership
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Lead Sponsors
www.billpayne.com
Andy Hamilton – CEO, ICEHOUSEPrincipal Organizer
Bank of New ZealandAndrew Thorburn, CEOPrincipal Sponsor
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Public Sector SponsorsUniversity of AucklandMajor university of NZ
NZ Venture Investment FundGovt. Co-investment Modeled after LINC
Public R&D Funding AgencySupported two interns
Link Kiwi companies to International investors
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Private Sector Sponsors
Very supportive of entrepreneurial support system in New Zealand
Private sector airlineSignificantly reduced fares
New rental car companyGraduate of ICEHOUSE incubator
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Activities
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www.billpayne.com
0102030405060708090
Activities in New Zealand
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TV Radio Web Print0
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4
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20
Kiwi Media Coverage
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New Zealand Landscape• 9 business incubators– 6 with affiliated angel groups
• 17 angel groups– 7 angel funds– 10 angel networks
• New Zealand Venture Investment Funds– Invest in NZ venture capital funds– Co-invest with angel groups
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Angel Deals
0
20
40
60
80
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120
2006 2007 2008 2009 2010
Investment inNZ$ Millions
Deals
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Outcomes
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Franceska Banga, CEONew Zealand Venture Investment Fund
“The New Zealand entrepreneurial ecosystem, including Universities, Incubators, Seed Funds, Angel Networks and the entrepreneurs are five years ahead of where they would have been after Bill’s visit.” July 2010
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Andy Hamilton, ChairmanAngel Association of New Zealand and the ICE Angels
“We don’t yet have such great angels in NZ, so we asked Bill and Ann come and live with us for a while. The rest is history; His openness, friendliness and willingness to contribute, Bill has taken our industry forward, a long way forward.” July 2010
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Phil McCaw, Incoming ChairmanAngel Association of New Zealand
Presenting Bill with the 2010 NZ ArchAngel Award
"Bill has been helping the development of the NZ Angel scene extensively. During his five month stay he had a dramatic impact on raising the profile of angel investment, assisting angels groups and providing one- on-one mentoring to a huge number of NZ entrepreneurs.“ November 2010
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Costs
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Costs(90 working days)
• Business travel to New Zealand• Business and travel expenses within NZ• Living expenses for five months• Modest one-time honorarium to cover
ongoing costs in the US• No consulting or speaking fees
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Summary
• Valuable outcomes for New Zealand• Extraordinary experience for us• Would go again in a heartbeat (returned for five weeks in 2011)