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Kiwi Co's Given Chance to Win UK Business Passport

Media Release for Immediate Release

Kiwi Companies Given Chance to Win UK Business Passport

Auckland, 13 December 2006 – International Business Wales (IBW), a part of the Welsh Assembly Government, is giving Kiwi companies a chance to win a UK business passport which will enable them to open an office in Wales and reach the lucrative UK and European markets.

The winner of the International Challenge receives services and facilities worth NZD$120,000, including one year’s free desk space rental within a Technium centre, legal advice and marketing advice. In addition, they also receive free access to ongoing guidance through Technium’s Associate Membership Programme, covering capital raising, relocation advice, personnel and manufacture sourcing to name just a few.

The competition is open only to high-growth technology businesses from Australia, China, France, South Africa, and for the first time, New Zealand. One winner from each country will be selected to go to Wales for a week to compete against other countries for the overall prize. The trip includes a return business class flight.

Long recognised by International Business Wales (IBW) as a hotbed for entrepreneurial technology companies, New Zealand was specifically chosen as one of the five countries to compete in this dynamic competition.

Former rugby legend and Welsh/British Lion Gareth Davies, the recently appointed Head of IBW for Australia and New Zealand, says that he is pleased to see New Zealand included in the competition for the first time.

“The competition provides a great opportunity for Kiwi companies to benchmark themselves against other companies while offering a soft-landing method to global expansion with the security and backing of an extensive professional support network,” says Davies.

“With free office space in a Technium centre and valuable business advice, the winning company can invest their finances and energies into growing their business rather than struggling with new overheads and understanding an unfamiliar market.”

In addition, Davies says that entrants taking the Technium Challenge receive benefits at every step of the way.

“At the first stage companies receive free online guidance in developing a concise executive summary of an international business plan, and if they pass through to phase two, direct guidance from UK-based professional firms on developing a complete UK market entry business plan,”says Davies.

IBW is also very pleased to have two key New Zealand business personalities, business columnist Rod Oram and Ernst and Young Entrepreneur of the Year Chris Jones as judges.

Entries must be submitted by 15 January 2007, and five successful applicants will be short-listed by 22 January 2007. The short-listed companies will then need to submit an international business plan by 9 April 2007, and the New Zealand winner will fly to Wales on 21 May 2007 to find out whether they have won the international Technium Challenge.

For more details and to enter the international Technium Challenge visit www.technium.co.uk or email wales[at]hillandknowlton.com.au

ENDS

About Technium
The Technium concept was initiated by the Welsh Assembly Government to drive forward enterprise and innovation in Wales, and has resulted in a network of innovation centres in Wales supporting dynamic technology businesses across different industry sectors. To date, the scheme has supported 139 UK companies, and is now expanding to help international businesses.

For more information please visit www.technium.co.uk

About International Business Wales
Formerly known as the Welsh Development Agency, International Business Wales (IBW) is the only UK regional development agency with a permanent presence in NZ with consultants in both Auckland and Wellington. It has helped nearly 500 international companies base their operations in Wales including Sony, Toyota, Airbus, HSBC, Mitel, Sharp, Logica CMG, IBM, Unilever and Australian icons such as Macquarie, Sims Group and BHP Billiton.

IBW is Europe’s most successful economic development body with a global network of 23 offices. First it helps companies set up operations then provides ongoing support for selling products into new markets.

For more information please visit www.wales-uk.com

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