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Sharing Angel Experiences in New Zealand

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

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Sharing Angel Experiences in New Zealand

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  1. Sharing Angel Experiences in New Zealand

  2. 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

  3. Agenda2010 Visit to New Zealand • Introduction • Sponsors • Activities • Outcomes • Cost • Summary

  4. Introduction

  5. “I applaud this type of initiative. It creates bridges of knowledge and trust – two criticalcriteria 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

  6. 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

  7. 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

  8. 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

  9. Sponsors A Public-Private Partnership

  10. Lead Sponsors Andy Hamilton – CEO, ICEHOUSE Principal Organizer Bank of New Zealand Andrew Thorburn, CEO Principal Sponsor www.billpayne.com

  11. Public Sector Sponsors University of Auckland Major university of NZ NZ Venture Investment Fund Govt. Co-investment Modeled after LINC Public R&D Funding Agency Supported two interns Link Kiwi companies to International investors

  12. Private Sector Sponsors Very supportive of entrepreneurial support system in New Zealand Private sector airline Significantly reduced fares New rental car company Graduate of ICEHOUSE incubator

  13. Activities

  14. Activities in New Zealand www.billpayne.com

  15. Kiwi Media Coverage

  16. 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

  17. Angel Deals

  18. Outcomes

  19. 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

  20. 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

  21. 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

  22. Costs

  23. 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

  24. Summary • Valuable outcomes for New Zealand • Extraordinary experience for us • Would go again in a heartbeat (returned for five weeks in 2011)

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