Investment expert visiting

Queenstown will host United States angel investment authority Dr Rob Adams on Monday.

Dr Adams will meet start-up founders, angel investors and chief executives and discuss the three issues that most frequently hinder start-up success.

The visit has been organised in response to the need identified by New Zealand's business incubators for start-ups to pay more attention to market validation, and intelligence around execution, as opposed to an obsession with the uniqueness of an idea.

Lisa McCarthy, of Upstart Business Incubator, who recently attended the Incubator New Zealand meeting and National Business Incubator Association conference in San Jose, said the "Kiwi obsession" with the unique idea was an "Achilles heel".

"It's more possible now than ever before to get a feel quickly and relatively cheaply whether a business has a good chance of success or not before a product is even built, or service delivered.

"Starting a business has its risks, but it doesn't need to be a gamble. Too often people come to us for help after they've exhausted their cash and time doing the wrong things. It's such an unnecessary waste."

In an effort to change the situation, Upstart is launching its own market validation programme in August, based on the principles of Dr Adams and Steve Blank, of Stanford University, who created the "customer development process", and sold his latest business for more than $US300 million ($NZ362 million).

Dr Adams has founded or financed more than 40 companies, which have launched more than 100 products and raised more than $US1 billion in capital.

He is visiting New Zealand for two weeks as part of the International Entrepreneur in Residence programme organised by the ICE House Business Incubator, and sponsored by the New Zealand Venture Investment Fund, New Zealand Trade and Enterprise, Air New Zealand, Giltrap Group and Millennium Hotels.

The Queenstown workshop is from 9am to 11.30am and is free thanks to NZVIF sponsorship. Anyone interested can contact venture@nzvif.co.nz or phone (09) 951-0179.