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May 22, 2012
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MOVAC $30m VC fund seeks growing companies

Capital is the lifeblood for young, emerging companies. And now there’s a little more of it to go around, now that Wellington investment firm MOVAC has raised a fresh $30 million growth capital fund for young New Zealand companies set to expand. The MOVAC 3 Fund, seeded by the New Zealand Venture Investment Fund and MOVAC Partners (a group of ex-TradeMe shareholders), is committing between $10 million and $20 million, depending on the final level of private capital raised. The fund will be open to eligible investors until December.

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Inquiry to shine light on freight practices

Is local authority ownership of ports the way to go? How can we lift the performance of our freight transport industry? These are some of the issues to be tackled in a Productivity Commission inquiry aimed at improving efficiency and profit margins for importers and exporters.

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Team OneBuzz pipped at the Imagine Cup post

For the second year running, Auckland University’s Team OneBuzz impressed judges at the worldwide finals of the Microsoft Imagine Cup competition as one of the top six finalists. Vinny Lohan, Steven Kang, Edward Peek and Kayo Lakadia made up the Kiwi contingent at the awards ceremony at the Lincoln Centre in New York City early today, with their project to combat malaria. But despite high hopes for their prospects from the crowds, the Kiwi quartet were pipped by Ireland’s Team Hermes, who won the Software Design category and US$25,000.

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Innovators Awards welcomes top panellists

The New Zealand Innovators’ Awards has announced its adjudicators—and it’s a fine looking list too. The call for entries closes August 12 and you can enter here.

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Gizza mortgage

Somewhere along the way in the last 30 years banks decided they’d rather bet on homeowners than entrepreneurs, and mortgages now make up over half of bank lending. The result? Easy mortgages, a runaway housing market, and pretty soon punters are spending all their readies on mortgage interest while business owners find themselves begging for even small loans.

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Gadget of the week

One person not jumping on the minimalist bandwagon is British designer and sculptor Richard Grant, who just doesn’t like simple stuff. And his elaborate speaker designs, from ancestral masks to robotic droids, add a certain je ne sais quoi to any desk.

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Popular on www.idealog.co.nz

From Wellington to the world: Wingnut Wings flying high
Enspiral’s collective model poised to take on the world
The buzz on beekeeping for urbanites
It's official: Ad people are not like the rest of us
Logo database highlights Kiwi talent
Cavalier Bremworth cashes on Target's sticky, sorry story
Starseed PR launches with impressive consumer brand lineup
Loomio: The Kiwi web app out to democratise decision-making

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