Fostering Innovation & Entrepreneurship at the University of Auckland to deliver Transformational Change

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1 Fostering Innovation & Entrepreneurship at the University of Auckland to deliver Transformational Change AAPBS Conference Session II November 2011

2 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

3 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

4 Building Knowledge Based Economy A. 4 Types of Capital Intellectual Capital Financial Capital Human Capital Skilled entrepreneurial people who understand Commercialisation Social Capital Contacts and Networks to secure information and resources B. Regional Entrepreneurship Ecosystem C. University activities promoting commercialisation / entrepreneurship

5 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

6 Company Capabilities / $ s Ecosystem in Action Potential Integrated Pathways Inspire Educate Motivate Incubate Nurture Fund Employees Advice Incubation - ICEHOUSE / IIB Provides UoA Interns / Graduates Entrepreneurship Club Continued Growth / Exits Go International NZTE grants - KEA UABS Entrepreneurs Challenge UABS Short Courses Venture Capital / NZVIF Project Assistance MBA / MBE Angels - ICE ANGELS / NZSCIF funding TTO UniServices / Research / MSI Grant Professional Service Firms Spark Challenges Ideas/ $100K Business Plan Competition Spark Education - V2B / I2B / Launchpad; Chiasma Spark Inspiration Launch / other events; Chiasma Time

7 Turning first class ideas into world class businesses Creating Wealth for the Nation

8 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

9 2011 Education Events Challenges People

10 Launch V2B Education Feedback sessions Ideas Challenge I2B Competition (1000 w) Education Feedback sessions $100k Challenge Competition (3500 w) Feedback sessions LaunchPad Final Education / Mentoring Competition (20 pg)

11 Challenges Ideas Challenge $1,000 for 1000 words Total Prize Pool of $30,000 $100k Challenge o o Qualifiers (10-15 teams) o $5,000 mentoring package Finalist Business Plan & Pitch 1 st $25,000 Seed Capital + ICEHOUSE Incubation 2 nd $15,000 Seed Capital + ICEHOUSE Incubation 3 rd + ICEHOUSE Incubation Judges Choice $10, 000 Seed Capital

12 Success Changing Culture

13 Success - Business Creation 70+ ventures launched Attracted $85+ million investment Created 230+ jobs Selling in 30 countries

14 Success Social Entrepreneurship

15 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 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

16 New Programmes Innovation & Entrepreneurship Commercialisation & Entrepreneurship Undergraduate Major in Innovation & Entrepreneurship BCom and BCom(Conjoint) Graduate Certificate/ Graduate Diploma in Innovation & Entrepreneurship Graduates from science, engineering, law etc PG Certificate in Commercialisation & Entrepreneurship Practicing scientists & technologists in universities, CRIs, & private firms Masters in Commercialisation & Entrepreneurship Practicing scientists & technologists in universities, CRIs, & private firms Executive Education Interested in working in (or with) a start-up, new venture, family business, or innovative firm Interested in working in (or with) a start-up, new venture, family business, or innovative firm PG students in engineering, science, business, & other disciplines Policy makers in science, and research & innovation Individuals with a 3 year UG and significant professional experience PG students with 4 year UG degrees in engineering, science & other disciplines

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