AANZ Runway Event Review by Kate Radcliffe-Reid, Backkr
Runway is one of the signature events on the Angel Association NZ calendar and provides founders with the opportunity to network and meet with other investors and founders from around the country.
Founder Scholarship recipient Kate Radcliffe-Reid attended the AANZ Runway event during Auckland Startup Week in October 2025.
Kate is the Chief Executive Officer of Backkr, a New Zealand-based digital marketing agency in a box, software subscription, accelerating SMB’s growth globally.
Here, Kate shares her key learnings for other founders, from the Runway event.
At the recent AANZ Runway event, two key words echoed through the room: traction and relationships.
Traction… and what to do with it.
“Relationships are the real currency”
Once you’ve got traction, which can mean anything from media buzz to true product–market fit, or simply too many customers for your current team, the next step is usually raising capital or expansion.
And when you feel that traction knocking on the door and you are ready to raise then really you should’ve started building investor relationships 6+ months ago. The investors most likely to back you are the ones who already know your story, have felt your energy, and have watched your progress.
At the event, the host asked who was exporting or manufacturing offshore — and only four hands went up. A humbling moment that showed how many Kiwi founders still see “going global” as a someday goal, not a today strategy.
The panel dove deep into the idea of expanding into Asia with plenty of healthy caveats. The opportunity is huge: a growing middle class, consistent policy, and your dollar stretches further. But it’s not a one-size-fits-all region.
You can do a lot from behind a keyboard, but at some point you have to get on a plane. Tools like NZTE are invaluable for navigating the early stages, but real traction in a new market comes from human connection by being there, listening, and building trust.
And there’s a world of difference between translation and interpretation. Translation is words; interpretation is intent.
Understanding what your stakeholders mean is far more powerful than just knowing what they have said.
Before you book that flight, talk to founders who’ve already gone where you’re headed. Ask what worked, what didn’t, and what they wish they’d known sooner. Those insights are worth more than any market report.
Raising at the ‘right’ time
“It depends” (and it always will)
The same “it depends” mantra echoed through every raising panel. Every founder who asked a question got the same answer: it depends on your business, your customer, your stage.
And honestly, it’s true. Every raise is situational. Every founder starts from a different place — with a different story, level of traction, financial need, and appetite for risk.
It can feel overwhelming figuring out where to even begin. My biggest learning? Talk to people who’ve done it. We’re lucky here in New Zealand and with two degrees of separation, you can usually reach anyone. A mentor, an expert, or an investor might just be a DM away. (If you’re a founder not on LinkedIn yet then get cracking.)
Founders start companies for all kinds of reasons: ditching corporate life, solving a social problem, or building something that makes life easier but you’ll need some dollars.
And raising takes time. Founder time. That means while you’re pitching, your day-to-day operations, and possibly your sales, will take a hit. It’s part of the trade-off.
Raising capital is hard work. You can mix angels and VCs in the same round (something many assume you can’t). You’ll get new questions with every pitch, and good investors will often pass your name on but they won’t do all the heavy lifting. Bring other interested investors to the table. Show your hustle.
Relationships take time… so start building them before you need them. Pitch nights, angel clinics, and programs like MoA are great places to start those conversations early.
And maybe the most important lesson of all: interview your investors just as much as they’re interviewing you. Ask them what they’ll do if your company hits turbulence. What lights them up? Why do they care — beyond financial return?
You’ll learn quickly that the best investors don’t just back your numbers. They back you.
Relationships, Not Just Raise Rounds
“We’re investing because we believe in you — not to get in the way.”
It’s not the pitch that gets you the investor, it’s the relationship. Once you’ve got someone on board, consistency is everything. Quarterly updates, honesty, and no surprises go a long way.
Trust isn’t solidified at the pitch, it’s built over time. Value the two-way relationship. If your business hits a rough patch and you feel like throwing your phone behind the couch when your investor calls, that’s not a great sign…
The right investor is someone you want to call when things get tough rather than someone you hide from.
One panelist nailed it when they said, “Angel investing is living vicariously through a founder — without the sleepless nights.” The best ones are in your corner, cheering you on.
Keep your investors updated, even when it’s uncomfortable. The moment you go quiet, it becomes ten times harder to raise next time. Transparency during the hard moments builds more trust than updates full of wins ever will.
And when it comes to the legal side of things, remember lawyers are there to make sure you get the deal you think you’re getting, not to create the deal for you.
When you take someone’s money, it’s not just capital because every dollar raised is a promise. One that eventually needs to be returned, whether through an IPO, acquisition, or something uniquely yours. Choose your path wisely!
And if equity investment isn’t your path, there are other routes. BNZ, for example, is backing startups through debt-based funding. An option for founders who want to keep more of their equity while still fuelling growth.
Because at the end of the day, raising isn’t just about the money – it’s about building partnerships.
