Frequently Asked Questions

 

Why should I enter?

All ideas get feedback and support to go to the next level. 

Entrants in the 2010 challenge had the opportunity to:

  • attend 12 workshops and hear 30 speakers, plus network with the Wellington innovation community to help them develop their ideas
  • received over $500,000 in support, including $25,000 in cash support as start-up capital
  • support to take their idea to the next level including legal, accounting and intellectual property development
  • received support to test ideas and to develop prototypes
  • a number of people received scholarships on our Activate programme and invitations to join our Creative HQ incubator
  • the opportunity to attend Escalator investment ready workshops
  • TechNZ market place scans and Global Expert searches were made available to a number of people, as were TechNZ project investments
  • a selected number of people presented to the Wellington innovation investment community and more support flowed from that.

How will 2011 improve on 2010?

In 2011, we will be supporting people even more to develop their ideas.  We have improved our processes to ensure entrants get:

  • better and more timely support.
  • everyone who enters will receive a written feedback report including opportunities to take their idea to the next level
  • support offered in stage one (100 word entries) as well as stage two (business plans)
  • ideas will be assessed regularly from the start of the challenge – that is people won’t have to wait for a long time to receive feedback.

We will also introduce support from day one. That means we will start introducing people to key members of the innovation community, Creative HQ, offering Activate scholarships, providing TechNZ support through market place scans and Global Expert searches and other support from when the entries come in.  That doesn’t mean you miss out if you enter later as we have a huge amount of support available, but hopefully this helps you to enter as soon as you are ready.

We will also be putting a lot more information on the website this year, including video coverage of all the knowledge based events (but not the networking events) to help you to develop your idea.

What kind of ideas can be entered?

Any kinds of ideas can be entered, from simply an idea, an idea at research and development stage, or prototype, pilot or revenue generating stages.

We factor the stage you are at into your assessment so that we are comparing like with like.

If I entered last year, can I enter this year?

Yes you can.

Can I enter more than two ideas in the challenge?

Yes you can.

What kind of ideas are you looking for/what are the criteria?

We are looking for originality, commercial potential and the ability to develop and support your idea in the Wellington region. We will provide you with feedback on your concept or idea, taking into account your proposed target market and how you plan to reach it, your competition and how you intend to make money.

Here are some things you might want to think about:

  • What research have you done around your idea?
  • Why do you think it will be successful?
  • What have others said when you told them about your idea?
  • How do you think this idea will make money?
  • Is there someone else out there that is making a product that is similar to yours?
  • How is your idea better than any current products or services?
  • What do you think people will be prepared to pay for your product or service and can you make your product or service profitable for this amount?

What are examples of great ideas from last year?

Beco Biopolymers: New Zealand’s first large scale manufacturing operation for “clean” plastics. Beco is clean to burn, compostable and non toxic/BPA free with identical look and durability to mainstream plastics. (development stage: idea)

callMe: Evolution of the virtual call centre concept (development stage: idea)

PriceTech Solutions: Sport specialist dynamic pricing for global sport ticket sales. (development stage: research and development)

Kick-It: An international social networking site designed to help people quit smoking. (development stage: research and development)

Porous Material Development Program at CRL Energy Ltd:  development of new product lines from currently unrefined New Zealand coal . Value-added products from the refined products, produced for other industries, would have a much higher value. (development stage: research and development)

Footfalls and Heartbeats: A garment that will pick up signals from your body (heart rate, respiration rate, cardiac output etc) and send the information via wireless transmission to a computer or mobile phone. Patentable technology. (development stage: research and development)

myINFOSAFE: downloadable PC software that helps people access, organize and protect their personal information. (development stage: revenue generating)

Safe-eyes: An “un-fog-able” mesh goggle for eyewear. The mesh is patented for all eyewear. (development stage: revenue generating)

Im Able: systems for assisting in stroke recovery including arm movement, balance and cognition (development stage: revenue generating).

Daniel Clelland: A gestural voice synthesis solution for people with speech disabilities backed by complex mathematics (development stage: pilot/prototype) (student entry)

Aucrop: A patented financial derivative that stimulates an investment in a real commercial forest (development stage: pilot/prototype) 

 

I haven’t entered an idea yet, can I come to the workshops?

Yes, you are very welcome to attend any of the events between now and the end of June.

 

What are the Terms and Conditions?

Please click here to see the terms and conditions

 

What are my Intellectual Property Rights?

Please click here to see the terms and conditions

 

If I am already trading can I enter?

Yes you can – we are looking for originality and commercial potential.

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