VIDEO: Punakaiki director Lance Wiggs on failure, lessons learned
"Good on Lance for giving it a crack. Watching that video really shows that his real strength is as a communicator and in inspiring others"Featured comment
"I guess I come from a position of some authority on failure," said Lance Wiggs in the introduction to his closing speech to the Institute of IT Professionals (IITP) National Conference in Tauranga on Friday.
During a rueful but ultimately uplifting speech about lessons learned, Mr Wiggs told the audience his Punakaiki Fund had only raised $3.2 million by Friday afternoon - making it extremely unlikely it would hit the $5 million necessary to implement the fund's investment strategy (itself a come-down from the fund's initial $20 million to $50 million target; see the final tally here).
If Punakaiki does fail (the final funding won't be known until later today), it will be the entrepreneur's second strike-out after Pacific Fibre.
Below is Mr Wiggs' full speech.