Following up from our commitment to help Xero Add-on partners raise funds we attended the Ice Angels investment event last night.
What an inspiration! Sir Ray Avery regaled a fascinated crowd with stories of health sector entrepreneurship both in New Zealand and with the legendary Fred Hollows in Africa. His key message – be customer centric by using observation, and just solve the problems you see. “People say things in surveys but don’t do them, just watch what happens – that is my only trick,” Ray says.
Following on presenting accounting software after Ray spoke of saving lives is always a challenge but I then covered the Xero ecosystem and pathway to market. The evening was held in conjunction with ICE Angels and JBWere and attracted an influential audience of over 70 people.
This desire to get more developing software companies in front of funders came out of our thinking on the Apportunity and what we learned at Xerocon Melbourne about Xero as a platform with a growing range of enthusiastic development companies connected in. We want to make sure that our Add-on partners are well resourced and this event was just the beginning.
Two partners took up the challenge to pitch to the warmed-up crowd. Cin7 are building inventory and sales order management that is independent of the accounting. It was great to hear their approach where rather than build inventory and sales order management as part of accounting the Xero API allows them to focus on the core processes of running an inventory based business. They just fire journals through to Xero. This is a great example of the opportunity that arises when the general ledger is commoditized. It was fascinating to us that their software sells for tens of thousands of dollars, such is the value they create, which connects to our sub $50 per month accounting system.
Practice Ignition, run by Australian Accounting wiz Guy Pearson, builds productivity tools for accountants. They can leverage our channel to quickly talk to over 4000 accounting firms on the Xero journey.
ICE Angels next big event will be on October 23 and there are 15 pitching slots available. It will be beamed into Christchurch and Queenstown and we’d love to see a few Xero Add-on partners there. The pitches must be slick and sharp for this sophisticated audience. We’re happy to help and here are some examples to get you going.
We’re on track to have a good number of angel investors visiting Xerocon in February, and we’re working out the details to create a dedicated investment event as part of it.
We are thrilled with the response from both Add-on partners and Angel investors as they understand the power of working together to ride the wave of small businesses moving online.
Time to get working on your pitches. The opportunity is there. Take advantage of it.
To learn more about Xero Add-ons check out http://www.xero.com/add-ons