Agroup of four local software companies visited Singapore last week to pitch for venture capital from international investors.
Trade New Zealand considered 40 firms before selecting Selector Group, Global Ecomex, Global Pro and POSPRO for the trip to Singapore. Trade New Zealand provided $10,000 in sponsorship toward the costs of attending the Corporation Builders South East Asian Investment Series.
The series offers companies the opportunity to put their case for venture capital before 150 delegates with billions of dollars to invest. The delegates represent government, investment funds, multi-national companies and high net worth individuals.
Senior trade commissioner South East Asia John Nicholson, who gave a presentation at the series, says New Zealand’s presence has a three-fold effect — it promotes the country as an innovative and dynamic place to do business, helps attract investment, and identifies offshore partners.
“New Zealand has a clean and green image, but it isn’t on the radar of many investment companies and venture capital funds in Singapore. They tend to have an Asian, US and Australian focus,” he says. “Part of this comes from their lack of knowledge of high tech developments in New Zealand.”
He says the venture capital industry in Singapore has grown to $9.98 billion in the past 15 years. Almost 50 venture capital funds now exist there.
Trade New Zealand spokeswoman Fiona Mogridge says under the criteria specified by the investors, companies attending the series had to be investment ready — in terms of management structure, marketing plan, business plan and strategic direction.
Selector Group has an Internet-based psychometric emotional/IQ test sold to educational institutions and companies; Global Ecomex has designed an intranet trading system initially aimed at the timber industry; Global Pro has developed a travel management system; and POSPRO has a touch screen point-of-sale application.
Capital seeking companies from Australia and Canada also attended the meeting.