[csforum] Welcome to SoftNewZ November issue

[NZ Software Association]

Title: 8 Article Newsletter Template

Welcome to SoftNewZ In This Issue:  •  Editorial  •  NZSA networking dinner 2 December 2003  •  CALL FOR NOMINATIONS  •  Which software agreements do you need? Which export initiatives are of most value to you? Featured Links:  •  Complete the NZSA Initiatives Survey NOW!  •  A Ghost of a chance at US success  •  ICT Taskforce gets millions for ICT industry growth  •  Technology NZ defines R&D in software sector Editorial The chasm of perspectives between VC�s and entrepreneurs was shortened up a little by Chris Twiss, Executive Director of the NZ Venture Capital Association at last weeks networking dinner meeting. Some of the stand-out statistics about New Zealand�s VC/Private Equity (PE) market: One VIF manager � 147 proposals � 2 deals in 2003. Of the $1.0 billion VC/PE funds available as at Dec 2002, 7% went to start-up�s, 8% seed and 7% early stage. Mature stage companies got the biggest piece at 23%. There�s still $460 million available to invest. But despite having being one of the unsuccessful 145 applicants, Alice-Margaret Allan, Managing Director Silverport, had no regrets about applying. �It�s all part of the learning process� and she says she would do it all over again � only better. So what are they actually looking for? The ability to aggregate individual brilliance and skills into a �TEAM�. Tell them how you have built the team and how you will achieve common goals. Passion � If you don�t come across as passionate about what you do, how do expect to �set anyone else on fire� with passionate enthusiasm? Do your homework � know thy funder! Find out all you can about the VC. Strong, professional management � You must have demonstrable implementation and execution skills. Supplement your skills by drawing upon the experience of others. Mentors/Business coaches can provide the necessary objective/correcting perspective when needed. Your past failures are not a barrier if you can articulate how and what you learnt from your mistakes. Tell them how you should have done it and how you will do it in the future. Clearly identify large, growing and preferably international markets for your product or service Clearly articulate what your unfair and sustainable competitive advantage is. Drawing from personal experience in a previous life as a lender in one of our fine banking institutions I often asked disappointed (and sometimes angry) applicants one of two questions (depending on the level of irritation at being declined). Tell me why I should loan you this money OR would you lend money to you? With reticence most replied no. Many became successful borrowers later on. Put yourself in the shoes of the VC and ask yourself the same question. So, how do you fill in the skills gaps you may have before going anywhere near a VC? The NZSA committee has put together a survey which proposes several initiatives in a number of key business and marketing areas. Help us help you by telling us what you need and when you need it by. The link to this survey appears under the heading �Which software agreements do you need? Clearly, given the abysmal success rate it is absolutely imperative that if you�re thinking about/looking for VC you need to look at all the options well before you approach a VC. You should be absolutely certain that VC is the best source of funding for your company at its stage of development. VC is only suited to a very small percentage of companies and is a financially structured product. Start-ups in general chaos need not apply. There are too many VC/PE options to summarise here but I have this information in a number of formats and places and it will appear in the public resources page of the Software New Zealand website. Until next month Regards, Sheridan NZSA networking dinner 2 December 2003 To be confirmed. Parnell Rose Gardens, Gladstone Rd, Parnell 6pm Tuesday 2 December 2003 $TBA Visa/Mastercard/Cash/Cheque at the door Cash bar available RSVP to Sheridan email to: [EMAIL PROTECTED] CALL FOR NOMINATIONS Some committee members are standing down to allow others to bring fresh ideas and enthusiasm to the business of the NZSA. WE NEED YOU TO COME ON BOARD If you have a project you're passionate about and feel would be of value to members and the wider ICT community then we need you to come forward. You may nominate yourself. Please send a brief bio to [EMAIL PROTECTED] Nominations must be received by 5:00pm on 19 November 2003. Which software agreements do you need? Which export initiatives are of most value to you? Whether you are a member or not we need you to tell us the answers to these and other questions so we can get on with the job of delivering on our Strategic Plan. We need to know which initiatives are of most value so we can roll these out in priority order. There are 15 questions and 10 require you to tick boxes. We estimate that it should take between 5-10 minutes depending on how fast you read and how much you have to say. CLICK ON THE LINK BELOW TO DO IT NOW Complete the NZSA Strategic Initiatives Survey NOW Update your profile or unsubscribe here. Delivered by Topica Email Publisher