The Lightning Lab is a business accelerator. But what does that actually mean? What is it that we offer the teams?
One of the most important roles of the lab is to supply a steady stream of speakers, events, meetings and expert sessions. This week alone, we had:
- A presentation from Debra Hall on Governance, which focused on board practice and due diligence,
- One-on-one sessions with Simpson Grierson giving legal advice,
- Workshops with Andrew Steel on financial modelling, helping teams to craft their revenue strategy,
- A fantastic mentor dinner hosted by Deloitte – with a twist. Instead of CEOs pitching their company ideas, their lead mentors pitched the ideas, competing for a bottle of champagne. There were a lot of laughs and great food – definitely a nice celebration for everyone at this stressful point!
So this week is a shoutout to our mentors and sponsors, and everything that they do to keep the lab running.
Let’s start with the mentors – how does the system work? This year, after a series of speed-dating sessions with successful and experienced people in various industries, the Lightning Lab set each company up with an advisory board.The three mentors on the board guide their team, meeting regularly to give them their valuable insights and advice as well as providing credibility when it comes to investment. On top of that, teams have specialist mentors, who are experts in specific fields. There is absolutely no shortage of expertise coming in and out of our lab!
The value we gain from our sponsors is equally as great. The Simpson Grierson lab techs come in every week, and many a time have broken down massive legal barriers teams faced. Microsoft Ventures has given our teams vital software that allows them to be ahead of the game, while Deloitte are sending in lab techs this week to further our progress on financial modelling. The additional funding and resources we receive from SKY, ATEED, Spark, Goat Ventures, Yellow Labs, BNZ, Callaghan Innovation and Creative HQ (yes, there are a lot!) are invaluable.
If you’re a startup and this sounds like a good deal to you, or if you’re an expert in your field who’d like to be part of startups’ journeys, get in contact with us – we’d love to hear from you!
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