The semifinalists for the New Zealand Trade and Enterprise NZ Focus on Health competition were announced this week. These 21 ventures will pitch to the five US and two kiwi judges for a spot on the ten-strong finalist’s list. All ten finalists will work on their business plans then participate in a US roadtrip in mid 2010 where they will be introduced to influential players in the US health industry. [Read more…]
Entries for The New Zealand Focus on Health Challenge closed this week, and judging is now in progress. The Challenge is NZTE run, and is just the sort of initiative New Zealand needs to help specific high potential industries to penetrate lucrative export markets. Ten points to NZTE for this one! The Health industry was chosen due to the global need for innovative solutions 0- and New Zealand’s strong capabilities in the sector. NZTE reports that the US already spends over US$2 trillion every year on healthcare – and has plans to spend an additional US$135 billion over the next few years. This is a massive opportunity for kiwi health entrepreneurs! [Read more…]
New Zealand is a hotbed of innovation. We have all heard that before. The number 8 fecing wore mentality, punching above our weight in all sorts of areas from winning yacht design through to dairy farming techniques. But why is it that this innovation translates into so few world beating businesses?
Numerous studies have been done on this question, and one of the factors which repeats itself is the lack of specific skills in taking these fantastic innovations to the world. New Zealand Trade & Enterprise is well aware of this, and they have identified the Health sector as one area where we are rich in innovation but poor in taking these innovations global.
Hence the NZ Focus on Health innitiative, designed to take great Kiwi health ideas to the world – particularly the lucrative US market where annual health spend is a staggering US$2 Trillion.
Participants submit their health innovation ideas in the form of a robust executive summary – and will compete for $750,000 in prizes designed to help commercialise your great health related idea in the US market.
Up to Twenty semi-finalists will be selected by the Judges. The semi-finalists will be able to attend a “pitch” training workshop to prepare the semi-finalists for pitching their ideas to the Judges in Round Two.
If you operate in the health space, entering this competition really is a no-brainer. Our very own BrightMind LABS from Tutukaka will be there competing for the action, and we would encourage others to join us in getting involved. Entries close on 31 August. Check it out , and watch this space where we’ll keep you posted on progress.
Fraser Hurrell is one of three directors of Elevate CA Limited, Chartered Accountants & Business Advisors in Whangarei, New Zealand.