Getting selected on the Xstart programme has been pivotal for Text Ferret. As a small team having external validation and support for the big picture and day-to-day operations has been very valuable. This has had a broad impact, from revising our pricing strategy through to assisting how we went about hiring new staff.
The opportunity for candid, honest discussion has been extremely helpful. The robust discussion and the ability to tease out the complexities of growing a small business has been very beneficial. At the end of the day we have to own our decisions but having the ability to “road test” the various scenarios has allowed us to make quality informed decisions.
Further to this internal support has been the connections Xstart has provided to the wider start-up ecosystem. Xstart has sped up the process of engaging with NZTE, Callaghan Innovation, and connecting us with the likes of the University of Canterbury. These relationships have provided Text Ferret with rapid exposure to the Venture Capital market in NZ and offshore, access to startup grants, and provided the opportunity for Text Ferret to gain access to additional support e.g. the SAAS financial modeling offered by the University of Canterbury finance department. Many of these relationships have led to other opportunities we would not have had exposure to – it’s all about the power of the network!
The challenge for any start-up is balancing the time spent strategizing and the day-to-day cut and thrust of meeting this month’s outgoings – Xstart has provided support for Text Ferret across this breadth of the start-up journey.
Founder and CE, Text Ferret