Audacious but guarded schemes

The Audacious Business Idea Challenge is not a traditional awards ceremony where the winners gush about their achievements - far from it.

The winning ideas in this year's national competition were so good, no-one wanted to share any detail about them, other than a basic nutshell - "it's a website promoting New Zealand products" or "it's a versatile framing system for building houses" or "it's a glow-in-the-dark fishing sinker which recharges in daylight".

There were 10 winners in the NBR competition.

Each won $1000 in prizemoney and all were guarding their intellectual property rights with tight lips.

The winners, announced at the Otago Polytechnic Art School in Dunedin last night, were Tim Vaughan, Joshua Jeffery, Geoff Howes and Henry Jenefaas, Eilonwy Fung, Kane Edwards, and Lement Wun Kiet Tan, and both Bruce Fairhurst and Ha Lim Kim entered two ideas which won them two awards each.

Audacious business coach Ryan Priemus said the challenge was designed for people with good business ideas which they would like to develop and put to the test.

Ninety-four entries were received, ranging from energy-efficient vehicles or heating systems that use innovative fuel sources, to technology classes for the elderly.

As well as prize money, the challenge provided teams or individuals with the skills and the opportunity to take their first crucial steps in developing an idea into a viable business, he said.

Participants gained valuable business experience and also the chance to network with potential team members, business experts and investors.

Winning teams were strongly encouraged to develop their ideas and enter them into the NBR Audacious $40,000 Business Creation Challenge, which is held later this year.

The competition was judged by Upstart Business Incubator managing director Norman Evans, Enabling Technologies Ltd co-founder Gary Taiaroa, University of Otago management lecturer Jodyanne Kirkwood, Dunedin City Council Economic Development Unit manager Peter Harris, and Otago Polytechnic Business Relationship manager Bevan Rickerby.