Story image

$100,000 up for grabs in new Flux Accelerator programme for 'most promising' tech startups

12 Oct 2016

New Zealand tech startups have another avenue of funding available to boost their businesses, with the launch of Flux Accelerator - a new initiative by The Icehouse.

Flux Accelerator, launching in 2017, is designed for startups that are looking to 'rapidly scale' their startup. The programme lasts for six months and will provide selected early-state tech companies between $20,000-$100,000.

The Accelerator will be supported by Callaghan Innovation, and will involve a range of industry, management and capital raising mentors.

Mentors include Claudia Batten (Massive and Victors and Spoils founder), Paul Cameron (Booktrack CEO), Jason Kerr (Findly and Spoke founder) and Tim Williams (ValueClick founder).

“After five startups, I’ve certainly learnt plenty about what it takes to build and exit a technology company. New Zealand has incredible talent and ideas, what is critical however, is turning these ideas into viable companies that scale internationally. Flux offers a pathway for founders to gain market traction and secure their next round of investment," comments Jason Kerr.

The Icehouse says that the Flux programme is a different accelerator model than others, as it provides depth and support for the 'most promising' founders.

The targeted approach helps with a better fit for both market opportunity and capital raising for "Demo Day", where teams pitch to more than 200 investors, the company says.

Mark MacLeod-Smith, director of Flux Accelerator and partner in Tuhua Ventures, believes the targeted approach also provides better support.

“Flux allows us to get closer to a smaller group of founders, providing more support and increased investment to the best technology startups New Zealand has to offer.  The Flux model aligns founders with The Icehouse’s existing investor networks, like ICE Angels who have collectively invested $56M and the recently created $11M Tuhua Fund," he says.

The Icehouse also runs other programmes for startups, and the company says this new programme complements the $11M Micro VC fund, Tuhua Ventures and ICE Angels, New Zealand’s most active angel investment network.   

Applications for Flux Accelerator close on December 19, 2016. The programme starts on February 20, 2017. Startups looking to apply for or find out more can visit the website.

Need the perfect flatmate? AI can help
A Kiwi entrepreneur has developed a flatmate-finding service called Mogeo, which is an algorithm that matches people to the perfect flatmates.
GoCardless to double A/NZ team by end of year
With a successful E round of investment and continuing organic growth globally, the debit network platform company aims to expand its local presence.
NZ’s Maori innovators are on the rise
“More iwi investors need to recognise that these sectors will provide the high-value jobs our children need."
Phone ringing? This biohack wants you to bite down and ChewIt
So your phone’s ringing, but instead of swiping right or pushing a Bluetooth button you bite down on a tiny piece of tech that sits in your mouth.
How big data can revolutionise NZ’s hospitals
Miya Precision is being used across 17 wards and the emergency department at Palmerston North Hospital.
Time's up, tax dodgers: Multinational tech firms may soon pay their dues
Multinational tech and digital services firms may no longer have a free tax pass to operate in New Zealand. 
Spark’s new IoT network reaches 98% of New Zealand
Spark is the first company to confirm the nationwide completion of a Cat-M1 network in New Zealand.
WhatsApp users warned to change voicemail PINs
Attackers are allegedly gaining access to users’ WhatsApp accounts by using the default voicemail PIN to access voice authentication codes.