New Zealand’s technology sector is starting to boom. From cloud computing, online security and privacy, to the Internet of Things and big data- digital technologies are disrupting how New Zealand conducts business and connects with the world.
The New Zealand Sectors Report 2013 found that exports of computer and information services have increased by 85 percent since 2006. A total of 62,252 workers were employed in ICT related occupations across the whole economy in 2012, from the financial and insurance sector to manufacturing and agriculture. This is an increase of 11,184 workers since 2003.
But in order for this trend to continue upwards and for New Zealand to be seen as the innovation hub of the southern hemisphere, startups need to attract more early stage investment and grow globally faster. IT and software companies have attracted only 21% of New Zealand’s venture and early stage investment since 2003.
Lightning Lab helps to address this situation and creates rapid paths to funding for driven entrepreneurs. With the goal of preparing startups for investors, Lightning Lab provides an efficient and structured model that helps startups move with greater speed and build momentum quickly.
Historically, over 50% of accelerator startups accepted into these programmes are successful in raising capital in the next round of funding.
With this in mind, the vision of Lightning Lab is to:
- Support the development of innovative technologies/companies that will drive growth in New Zealand’s digital technologies industry;
- Deliver investable properties to New Zealand early stage investment communities;
- Develop the entrepreneurial and technical talent that New Zealand will need to remain internationally competitive;
- Build a supportive entrepreneurial community that encourages mentors, investors and others to remain focused and interested in early stage venture development;
- Create excitement and momentum in the startup entrepreneurial space for the entire entrepreneurial ecosystem.