Fostering Innovation & Entrepreneurship

at the University of Auckland

to deliver Transformational Change

AAPBS Conference

Session II

November 2011

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

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

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

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

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

‘Turning first class ideas into world class businesses’

Creating Wealth for the Nation

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

2011

Challenges

People

Education

Events

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

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

Success – Changing Culture

70+ ventures launched Attracted $85+ million investment

Created 230+ jobs Selling in 30 countries

Success - Business Creation

Success – Social Entrepreneurship

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

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