fostering innovation & entrepreneurship at the...
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Fostering Innovation & Entrepreneurship
at the University of Auckland
to deliver Transformational Change
AAPBS Conference
Session II
November 2011
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Panelists
• Geoff Whitcher – Director Centre for Entrepreneurial Learning
• Prof Colin Green
– W&B Hadden Chair of Ophthalmology & Translational Vision Research – Founding Scientist and Director CoDa Therapeutics
• Fady Mishriki
– CEO and Co-Founder PowerbyProxi
• Vinny Jeet
– Entrepreneur
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Transforming Knowledge to Wealth
• 1950’s - NZ GDP per Capita # 3 in world – Agricultural commodities exporter
• UK entered the EEC in 1973 – NZ Slippage - “3rd to 23rd in 30 years”
• Answer - Create a knowledge based economy
– NZ Increases expenditure on R&D – UoA becomes revving engine of economic growth
• Result – NZ returns to Top Half of OECD Rankings
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Building Knowledge Based Economy
Intellectual Capital Financial Capital
Human Capital Skilled entrepreneurial people who
understand Commercialisation
Social Capital Contacts and Networks to secure information
and resources
A. 4 Types of Capital
C. University activities promoting commercialisation / entrepreneurship
B. Regional Entrepreneurship Ecosystem
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UoA Entrepreneurial Ecosystem
• Objective: – Develop
A spirit of innovation An understanding of the commercialisation process A mind-set and culture of entrepreneurship
– Foster the building of contacts and networks
• Activities – Inspire – Educate – Motivate – Incubate – Nurture – Fund – Interns / Employees – Advice
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Spark Challenges –Ideas/ $100K Business Plan Competition
Spark Education - V2B / I2B / Launchpad; Chiasma
Incubation - ICEHOUSE / IIB
Ecosystem in Action Potential Integrated Pathways
Provides UoA Interns / Graduates
Entrepreneurship Club
UABS Entrepreneurs Challenge
UABS Short Courses
Project Assistance – MBA / MBE
Angels - ICE ANGELS / NZSCIF funding
Continued Growth / Exits
Com
pany
Cap
abili
ties
/ $’
s
Time
TTO – UniServices / Research / MSI Grant
Venture Capital / NZVIF
Spark Inspiration – Launch / other events; Chiasma
Go International – NZTE grants
• Inspire • Educate • Motivate • Incubate • Nurture • Fund • Employees • Advice
Professional Service Firms
- KEA
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‘Turning first class ideas into world class businesses’
Creating Wealth for the Nation
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A student led initiative that stimulates the creation of wealth in
New Zealand by fostering and promoting a spirit of innovation and
culture of entrepreneurship at The University of Auckland
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2011
Challenges
People
Education
Events
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Final
Ideas Challenge
$100k Challenge
V2B
I2B
LaunchPad
Competition (1000 w)
Feedback sessions
Feedback sessions
Launch
Education
Education
Education / Mentoring
Competition (3500 w)
Competition (20 pg) Feedback sessions
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Ideas Challenge $100k Challenge
$1,000 for 1000 words
o Qualifiers (10-15 teams) o $5,000 mentoring package
o Finalist Business Plan & Pitch
Total Prize Pool of $30,000
1st $25,000 Seed Capital + ICEHOUSE Incubation
2nd $15,000 Seed Capital + ICEHOUSE Incubation
3rd + ICEHOUSE Incubation Judges $10, 000 Seed Capital Choice
Challenges
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Success – Changing Culture
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70+ ventures launched Attracted $85+ million investment
Created 230+ jobs Selling in 30 countries
Success - Business Creation
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Success – Social Entrepreneurship
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Success – People Development
New Generation required for Knowledge Based Economy “Business Savvy Technologist” – Innovative – Action Oriented
• In demand in a knowledge economy:
– Entrepreneurs / start-ups – SMEs – Major Corporates – Top Tier Professional Service Firms – Government Departments
• Leadership Qualities
– New Zealand Young Entrepreneur of the Year 2010 – Young New Zealander of the Year 2010 – 6 x Excelerator Future Leaders Program – Young Leaders Network at Asia NZ Foundation
• Internationally Competitive
– 17 at Top International Business Schools (completed or in process) • Include 4 winners of Fulbright Platinum Award $US100K each to study at top MBA School
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New Programmes
Undergraduate Major
in Innovation &
Entrepreneurship
Graduate Certificate/ Graduate
Diploma in Innovation &
Entrepreneurship
BCom and BCom(Conjoint)
Interested in working in (or with) a start-up, new venture, family business, or innovative firm
Graduates from science,
engineering, law etc
Interested in working in (or with) a start-up, new venture, family business, or innovative firm
PG Certificate in
Commercialisation &
Entrepreneurship
Masters in Commercialisation
& Entrepreneurship
• Practicing scientists & technologists in universities, CRIs, & private firms
• PG students in engineering, science, business, & other disciplines
• Policy makers in science, and research & innovation
• Practicing scientists & technologists in universities, CRIs, & private firms
• Individuals with a 3 year UG and significant professional experience
• PG students with 4 year UG degrees in engineering, science & other disciplines
Commercialisation & Entrepreneurship Innovation & Entrepreneurship
Execu
tive Edu
cation