New network to link investors with startups

Startup Queenstown Lakes Trust chief executive James Burnes. Photos: Kerrie Waterworth
Startup Queenstown Lakes Trust chief executive James Burnes. Photos: Kerrie Waterworth
A new investment network launched last month in Queenstown hopes to create a database to connect overseas and local investors with startup companies across the South Island.

The Wanaka and Wakatipu Investment Network (WWIN) is the latest initiative from the Queenstown Lakes Trust and Startup Queenstown Lakes to bring entrepreneurs and investors together.

Startup Queenstown Lakes Trust chief executive James Burnes said the launch had been planned for 2020 but was brought forward after council investment entities across the South Island began collaborating.

''We have seen a lot more collaboration and better conversation in the last six months around how we can better work together to help startup founders raise money.''

Mr Burnes said it had not been made public yet but WWIN had signed a memorandum of understanding with Coin South (Invercargill) and the Start- up Dunedin Trust to ''mature the investment component'' coming from Australian, North American and local investors.

Jinene Clark
Jinene Clark
He estimated there were more than 100 individuals in the Queenstown Lakes district actively investing in startup businesses but there could be as many as 300-400 who could invest.

Last month, WWIN held its first networking event for investors in Queenstown and this Friday it is Wanaka's turn.

''Meeting other investors is the best way to learn what good investments they made, what mistakes they made, talk about deals that went bad, due diligence they may or may not have made, and the deals they are currently working on,'' Mr Burnes said.

The first WWIN ''pitch'' event for entrepreneurs wanting to raise capital will be held on August 23 at the Tourism Tech Expo in Queenstown.

''A startup founder just doesn't want a cheque - they want connectivity, they want advice, they want relationship development, they want coaching, especially in early stages when you are trying to get the idea off the ground,'' Mr Burnes said.

Three weeks ago, Startup Queenstown Lakes appointed Dunedin-born Jinene Clark to the role of Wanaka-based business adviser to assist early-stage entrepreneurs and aspiring business owners.

Ms Clark has spent the past 25 years in Australia working in small business and IT and replaces Jason Watkins, who was instrumental in leading the Cube, which eventually evolved to become Startup Queenstown Lakes and The Queenstown Lakes Trust.

Ms Clark said she had ''big shoes to fill'' but she was looking forward to helping startup founders build their businesses and create jobs.

kerrie.waterworth@odt.co.nz

Add a Comment