$1.8m cash injection has Kiwi business urging others to get investment ready

MEDIA RELEASE: 18 May 2011

Pacific Channel managing director Brent Ogilvie has gained more than $1.8 million in capital for two companies he took through the Unlimited Investment Challenge.

The national programme helps companies fine-tune their business strategy with the aim of pitching to investors and gaining a prominent business mentor for 12 months.

Brent Ogilvie is encouraging more entrepreneurs to take the Challenge and get investment ready.

“Building companies with high-growth potential, getting them investment ready and securing investment is something a lot of people talk about as being important to New Zealand, but few roll up their sleeves to help,” says Mr Ogilvie. “The Unlimited Investment Challenge gives businesses an opportunity to present their work to experts and get feedback.”

Within a month of the Challenge, SciTOX, which has developed a bio-sensor that measures the toxicity of liquid waste, raised $1.3 million and is now preparing to sell the trial-proven sensor.

The other successful company Somnaceutics, co-founded by Pacific Channel, has taken its sleep-enhancing milk product ‘Sleep Time’ into Asia after securing investment of more than $500,000. Somnaceutics has since been acquired by a larger NZX listed company.

Investment Ready workshops are being held in Christchurch (21 June), Wellington (22 June) and Auckland (23 June). At these workshops business owners can learn about what investors are looking for, business strategy, intellectual property, marketing, sales, tax and finance.

“SciTOX and Somnaceutics had an assessment of their business, position in the market and what they had to offer investors. SciTOX significantly improved the way it told its product story after feedback received during the Unlimited Investment Challenge,” says Brent Ogilvie.

“Developing commercially viable high-growth companies is enormously challenging and requires the right sort of support if objectives are to be achieved. For this reason, the Unlimited Investment Challenge has had a big impact on our businesses.”

Following the Investment Ready workshops are Business Plan workshops in July. For information, workshop agenda and registration: www.unlimited.co.nz/investmentchallenge

Contact:

Sarah Gorringe
Strategic Programmes – Communication Manager

Fairfax Media Business Group

09 909 6983 or 022 037 4700
sarah.gorringe@ffxbusinessgroup.co.nz

Brent Ogilvie
Managing Director

Pacific Channel

09 337 9677
021 60 55 66
bogilvie@pacificchannel.com

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