New Zealands leading angel providing early stage first round financing to ICT start up companies. Apply Now
Posted by Ulrika Hedquist, Computerworld on 23 September 2008
Angel investor group Sparkbox and K1W1, an investment company owned by Stephen Tindall, have launched Start-Up Fund, aimed at companies from Auckland’s business incubator the Icehouse.
The New Zealand Venture Investment Fund’s Seed Co-Investment Fund (SCIF) will match investments made by Sparkbox and K1W1, so enabling Kiwi entrepreneurs to get funding of up to $150,000 per project.
The $150,000 injection will give start-ups the proof-of-concept funding they need and, hopefully, set them up for the angel investment stage, says Icehouse chief executive Andrew Hamilton. The funding — “pre-angel and post friends and family” — will help people with good ideas quickly determine whether they have a viable concept, and whether it can be turned into a business, he says.
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