Chairman's Address - 2011
2011 was another successful year for Capital Angels. We held three dinner meetings which were well attended and sponsored by Ernst & Young, Clearcorp and Business and Industry Development, ACT Government Economic Development Directorate. We also ran an Investment Readiness workshop in September in association with NICTA. On the 8th December we ran our end of year event in association with Lighthouse & Epicorp. I have included some highlights for the year:
Thanks Uwe! - At our end of year event at the Belconnen Arts Centre we had the opportunity to thank Uwe Boettcher for his service as Chairman for Capital Angels over the last couple of years. During his tenure we have got Capital Angels on a solid financial footing, grown membership, formalised the event calendar, increased sponsorship, broadened the committee and put in place transition plans to ensure the long term viability of the organisation. We are delighted that Uwe will continue on the committee and we look forward to enjoying his insight and company at our gatherings in 2012.
Hello Michele! - At our committee meeting in September, I was elected Chairman (formerly deputy Chairman) and Michele Troni was elected Deputy Chairman. Michele is the Chief Investment Officer at Australian Capital Ventures (part of the Hindmarsh Group). Michele is a very experienced investor in the early-stage sector and we are fortunate to have his expertise and wisdom as part of our team. I look forward to working closely with Michele over the next couple of years.
Thanks Lighthouse! - Many of you will know we have a formal alliance with Lighthouse. Anna and her team are a critical part of the success of Capital Angels including hosting meetings, organising events, member communication, marketing, deal screening etc. One of the reasons for the success of Capital Angels is the enthusiasm of the team @ Lighthouse. As such I would like to send a huge 'Thank You' to Anna, Cindy, Lachlan, Lyn, Lauren and Su.
Thanks Steve! - As a small, not for profit organisation we rely on the contributions of many people. In particular I would like to thank Steve Bennett and Clearcorp for producing the accounts for Capital Angels each year - this is a significant task and is done in a professional and positive way.
Thanks Committee members! - We have a diverse and strong executive committee who volunteer their time each month to participate in the screening meetings and the organisation meetings. We could not run CA with their help! Thanks to Uwe, Michele, Anna, Cindy, Lachlan, Steve, Dominic & Phil.
Thanks Pat! Pat Mooney from Commercialisation Australia has been an informal part of Capital Angels for most of this year - he attends all of our dinner meetings and has had great success in his role as Case Manager @ Commercialisation Australia - we look forward to a closer relationship with Pat in 2012.
Recently, there have been a lot of announcements coming out from the Government - for those of you who have not seen them the most relevant to us are:
The $200m Renewable Energy VC Fund (REVCF) mandate awarded to Southern Cross Venture Partners - http://www.ret.gov.au/energy/Documents/cei/acre/Overview-of-SXVP-fund.pdf The IIF final round of funding has opened with an increase of fund available from $60m to $100m - http://minister.innovation.gov.au/Carr/MediaReleases/Pages/INVESTINGININNOVATIVECOMPANIES.aspx Telstra announcing its investment program for early stage ventures - http://www.theaustralian.com.au/business/opinion/apps-key-in-telstras-world/story-e6frg9io-1226088881092 The new improved R&D Tax Incentive scheme currently being implemented - http://www.ausindustry.gov.au/InnovationandRandD/RandDTaxIncentive/Pages/RandDTaxIncentive.aspx
The early stage scene in Australia is growing dramatically with a number of new incubators having been launched in Sydney & Melbourne - this is positive for the overall eco-system. Finally I wanted to highlight some upcoming events in 2012:
2012 National Angels Conference - "Angel Capital - ensuring a sustainable future" at the Melbourne Convention and Exhibition Centre from 29 February - 2 March, 2012 - http://wired.ivvy.com/event/FK6SN8 - early bird registrations close on 31st December 2011First Capital Angels Dinner event of 2012 - 29 Marc
I would like to wish you all a Happy Christmas and a Prosperous New Year.
Chairman - Capital Angels