Forum Archive Index - February 2000

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Thanks Wayne for that.    However, it is best not to send MS Word 
attachments, with the potential for mass spread of viruses to mailing 
lists me thinks.

Here is the text version that you should have sent:

IT Forum - Hewlett Packard Building Auckland 14 Feb 2000
Key Points Noted

· Dynamic growth in VC Funding (globally, but mainly US)
· Israel good example small country (3m people) effectively using talents & 
connections
· We are now at Step ONE (only) re development of the Internet
· Opportunities are massive (Asia emerging strongly)
· NZ  strengths - modern infrastructure, vibrant internet/telco initiatives
· NZ weaknesses - lack of capital, lack of management skills & access to markets
· Challenge in all ventures is to manage egos & focus on one goal
· KSF for ideas to market were "good story" & "contacts"
· Plans must be realistic & must have flexibility to be changed quickly
· Strong leadership critical (see above re egos)
· Establishment High Tech Council in NZ ( to pull together various groups)
· DR Steve Thompson of FORST encouraged utilisation of existing schemes such as 
TBG, NERF, Enterprise Scholarships
· Plenty of money slopping around NZ ($100m) looking for good stories
· 1300 IT Coys in NZ looking for funding
· Book Reference "The Stuff Americans are Made Of" 
· For VC's; people & entry price were critical, as was exit strategy
· VC's were for start-up phase only
· Presentations from Direct Capital, Caltech, Morel & Co, Strathmore, IT Capital
· Credibility of people & ability to build sustainable businesses...key.
· Investor Reports on ITC available from CIBC & Merrill Lynch
· New Capital Market in NZ from 3/00 (Max 300 shareholders & $1m per deal)
· Dinner @ $250/head (suffering today!)-impressive talks from  Dayton Carr, 
David Hancock, Jay Snider , Jim Clark (Netscape, Healtheon & MyCFO)
· Address from Peter Hodgson; Bill English in attendance.
· Overall very worthwhile, met new contacts & current acquaintances.


Wayne Williams - 15 Feb. 2000

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