Logicore is a software development company focusing on value-chain management solutions for businesses.
Logicore is a software development company focusing on value-chain management solutions for businesses.
"Accelerators tend to create a focal point in the local start-up ecosystem," says Mark MacLeod-Smith, Programme Director of Lightning Lab Auckland. "By creating an entrepreneurial nexus, emerging entrepreneurs, knowledgeable mentors and early-stage investors can share experiences and the journey of creating a technology company."
The programme reaches beyond just the select few who make it through to the 12-week intensive, however. Says McLeod-Smith: "Though the focus naturally falls on the selected nine companies, the accelerator programme also helps the wider group of interested start-ups by running free workshops on specific topics. Not only does this help to increase the combined level of entrepreneurial capability but it also assists in helping connect co-founders."
2015 saw the addition of nine digital start-ups to Lightning Lab's accelerator programme. Among them are Designer Wardrobe and Logicore.
Logicore
Logicore is another start-up to get the Lightning Lab treatment. A software development company focusing on value-chain management solutions for businesses, the company is developing an ERP fringe platform aimed at helping businesses manage the fringe functionalities of their business, connecting a company's back-end enterprise systems to their suppliers.
The product has been in development for five years. Between its inception and the team's acceptance into the Lightning Lab programme, the project was entirely self-funded, as the three co-founders pursued contract work to keep the money flowing into the project.
"Before Lightning Lab, we were all doing our own contract work to build up the share pool of money for Logicore," explains co-founder Rob Silver. "We looked at other funding avenues, for sure- we're even still talking to Lightning Lab about the viability of those avenues."
"But we got talking to The Icehouse at their 'First Wednesday of the Month' event."
Silver is referring to The Icehouse's monthly event, open to entrepreneurs looking for insights into developing a successful start-up as well as an opportunity to network amongst the business community.
"We went along and pitched our concept a bit, and they gave us a call back. We pitched our idea again, and they liked it," Silver explains. "At that point we were still funding Logicore through contract work, so The Icehouse was a great next step."
Now, with the seed money and access to a well of experience and knowledge via Lightning Lab's mentors, Logicore can look to the future. And so the company has become a part of a thriving start-up community in Auckland's Wynyard Quarter.
"Wynyard Quarter already has a buzz going," says Silver. "I've joined communities based around the start-up ecosystem we have here and just looking at the discussions that are taking place, you really get a feel that this is a growing thing.
"It fascinates me the amount of ideas out there, the variety. It's only day three, but we're already getting such a good vibe from all of the start-ups involved."
As for where they'll be once the three month Lightning Lab intensive is over, Silver isn't worried about getting investment. "We've got a really good product, and we've got a vision of where we want to be."
Aidan Bartlett and Donielle Brooke, co-founders of Designer Wardrobe.
is an online marketplace for second-hand designer fashion items. For co-founders Aidan Bartlett and Donielle Brooke, what began as a small Facebook group among friends quickly grew into a thriving second-hand fashion community.
"The idea is, you can list your items in 30 seconds, and clear your wardrobe in five minutes," explains Bartlett.
"And then go ahead and buy a whole new wardrobe."
After taking the step of converting the growing Facebook community into a stand-alone website last year, Aidan and Donielle knew that it was time to take their budding business to the next level. That next level was The Icehouse, and by extension, Lightning Lab.
"I'd read a lot of success stories with The Icehouse," says Bartlett.
"We're a start-up: we want to grow. The Icehouse and Lightning Lab seemed the best way to give us that shot.
"So we started a conversation with them and it didn't take long to see that this was the way forward for us."
Since its inception in 2012, Designer Wardrobe was managed and maintained solely by Bartlett and Brooke.
Now, with a place in the Lightning Lab programme, the team receive $18,000 seed funding and the opportunity to work with more than 100 mentors to develop their business.
Ultimately, at the end of the 12-week programme, they will get the opportunity to pitch their concept to a room of over 200 angel investors in the hopes of getting further funding.
"Taking the next step, applying to Lightning Lab, was such an organic, natural decision for us."
They've already made strides, expanding their two-person core team to three with the new addition of a Chief Technical Officer - a move the logistics for which Lightning Lab was able to help the team iron out.
Lightning Lab Lightning Lab is a 12-week intensive business acceleration programme, each year providing up to 10 New Zealand start-ups with structure, business skills, start up methodologies and funding avenues, with the aim of developing them into strong, successful companies. Originating in Christchurch, the programme teamed up with The Icehouse to bring the initiative to Auckland-based start-ups.
