Welcome to the latest instalment of the 'Digital Garage Start-Up Series'! We are thrilled to recap our third event, where we delved into the crucial aspects of "Growth, Funding and Support" for budding start-ups. The engagement and feedback from the event have been nothing short of inspiring, reminding us of the strength of the New Zealand tech community.
Embracing Connections and Insights
We extend heartfelt gratitude to our esteemed panel members for sharing their valuable insights;
- Bridget Unsworth (Executive Director at Angel Association New Zealand and Board Member at TracPlus and Invest South)
- Will Palmer (Co-Founder of Cupla and Movio / Investor / Advisor)
- Michael Moyes (Partner in Duncan Cotterill’s Tech, Cyber and IP teams)
- as well as to our ever-engaging MC, Jamie, one of the Directors from Digital Garage.
The event was a platform for connection, ideas, and problem-solving, resonating with the collaborative spirit that defines our tech ecosystem.
Key Takeaways from the Event
Let's revisit some of the essential takeaways that emerged from the insightful discussions during the event:
Funding and Growth: The Path to Sustainability
The discussions illuminated the strategy of bootstrapping as a path to sustainable growth. As Will eloquently stated, "Bootstrap as long as you possibly can, and only spend money where entirely necessary." This approach not only instils a culture of efficiency and frugality but also positions your start-up to weather the challenges of capital markets. Moreover, it enables you to maintain control and chart a well-defined path for utilising future capital effectively.
Navigating the Capital Landscape
Insights were shared on the delicate balance between founder equity and investor alignment. Particularly relevant to the New Zealand context, our panel emphasised the importance of fostering strong alignment with investors who are committed to your company's success. Bridget’s guidance on raising capital highlighted the significance of milestones, with a nod to the realistic expectations of the local capital market. While global investors might embrace higher risk, NZ investors often seek both nurturing and a solid foundation before investing.
Unveiling the Power of Intellectual Property
Addressing legal considerations, the event explored intellectual property (IP) strategies. As Michael pointed out, "For a New Zealand business, we encourage moving away from IP strategy and towards brand protection." This pragmatic approach balances the need for IP protection with the financial realities faced by start-ups. The conversation emphasised being strategic in navigating this landscape and seeking advice from multiple sources.
Crafting Successful Deals and Navigating Investor Relations
Navigating deal structures and investor relations were explored in depth. Bridget's recommendation of Brad Feld's book, "Deal Terms," underscores the importance of understanding all terms in a deal, fostering transparency, and building trust. The event highlighted the significance of investor-founder alignment, stressing the need for a strong relationship founded on shared values and goals.
Founder Well-Being: The Cornerstone of Success
The event concluded with a poignant reminder of the significance of founder well-being. Amidst the challenges of entrepreneurship, Jerome Faurey’s insights emphasised the importance of self-care, noting that "you need to be number 1, startup number 2." From managing stress to maintaining a mindful approach, founder well-being remains a cornerstone for enduring success. (We will release more information in a follow up blog)
Embrace the Insights, Shape Your Journey
As we wrap up another enriching event in the 'Digital Garage Start-Up Series,' we invite you to embrace these insights and integrate them into your start-up journey. Whether you're bootstrapping for longevity, navigating investor relations, or safeguarding your intellectual property, these lessons are designed to empower you.
The event was a testament to the vibrant community we're building, characterised by collaboration, knowledge-sharing, and unwavering support. As we embark on the next phase of this journey, we encourage you to stay engaged, keep learning, and leverage these insights to shape the future of your start-up.
We're excited to continue running these style of events and look forward to having you join us in our upcoming get togethers. Until then, keep innovating, keep learning, and keep disrupting the status quo. Your journey has just begun, and we're here to support you every step of the way.
Speakers;
Michael Moyes - Partner in Duncan Cotterill’s Tech, Cyber and IP teams
LinkedIn: (17) Michael Moyes | LinkedIn
Website: Michael Moyes - Partner - Duncan Cotterill Auckland
Will Palmer - Co-Founder of Cupla and Movio / Investor / Advisor.
Linkedin: https://www.linkedin.com/in/williampalmernz/
Bridget Unsworth - Executive Director at Angel Association New Zealand and Board Member at TracPlus and Invest South
Linkedin: https://www.linkedin.com/in/bridget-unsworth-a57ab51/
