25 June 2010
Prime Minister John Key has launched the Entrepreneurs’ Challenge at the Business School, saying New Zealand needs a savings culture to invest in our entrepreneurs so they can take on the world.
In his speech at the evening function on 24 June, attended by 200 people in the Level 1 foyer of the Owen G Glenn Building, the Prime Minister told guests New Zealand needs entrepreneurs because it is a small country located a long way from the rest of the world.
“Supporting entrepreneurs is critical to New Zealand's future success. We need to back entrepreneurship, research and innovation and to build an economy based on a broad range of exports.”
His comments were echoed by Business School Dean Professor Greg Whittred, who says last year’s winners have so far exceeded expectations.
Coffee roasters Allpress Espresso, smart water meter technology developer Outpost Central and hot water heating technology firm Senztek were picked from 108 companies representing 40 different industries.
“Allpress Espresso is due to open a new café and coffee roasters in London this August, Outpost Central is increasing its presence in Australia and Senztek is in the process of ramping up its presence in Britain,” Professor Whittred says.
The Entrepreneurs’ Challenge was created last year to grant loans on favourable terms to companies to help them expand their operations overseas. It also provides companies with mentoring from highly qualified business professionals and an increased profile in New Zealand and overseas.
Professor Whittred says the Challenge was made possible because of a $3 million gift from expatriate Charles Bidwill.
“Our benefactor Charles Bidwill is very happy with what his gift has achieved in its first year. Charles’ goal was to foster entrepreneurship in New Zealand so the prosperity of the country increased, and although it is early days, the Challenge is doing just that.
“The Challenge is important to the Business School because it is another way in which we are supporting the growth of promising small and medium-sized enterprises with an entrepreneurial psyche.”
Companies can now apply online and entries close at 5pm on 19 July. The winners will be announced in November.
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