MEDIA RELEASE - FUTURE DRAGONS

Upper Hutt young people pitched for seed capital

Upper Hutt’s youth pitched their business ideas, in front of some of Upper Hutt’s top local business people, in order to secure seed capital.

On 19 May 2009, Upper Hutt City Council took part in its first ever Future Dragons Programme. The Programme is based on the ‘Dragons Den’ model, from a UK TV series on entrepreneurship.

The Council Chambers was transformed into a Dragons Den of opportunity for these young people. 16 young people (with an average age of 16 years) pitched 9 separate business ideas to the Dragons (aka judges) for seed capital to kick-start their businesses.

Some of New Zealand’s top business leaders have been involved with the programme. The Dragons for the 2009 round were Joy Cottle, CEO of iServe.co.nz, Wayne Toms, CEO of All About Kitchens and Bathrooms and Wayne Guppy, Mayor of Upper Hutt City Council and former owner of Upper Hutt Pharmacies.

“This programme provides a wonderful opportunity to test the ideas and concepts of the young business minds we have in Upper Hutt. We will continue to run the programme and I’m sure we will see at least one young entrepreneur make it to the big time and we look forward to seeing Upper Hutt’s new Mr Gates emerge.”

“In addition to seed capital the programme will also provide lots of opportunities for partnerships and guidance via the ongoing business mentorship connections aligned with the programme.” Mayor Wayne Guppy noted.

As the New Zealand unemployment rates rise, Upper Hutt City Council is doing its bit to provide young people with an opportunity to create self-employment. Many young New Zealanders were excited at the prospect of developing a business opportunity in spite of the current economic environment.

Winner’s announced

Using the funding received from the Youth Development Partnership Fund, from the Ministry of Youth Development, the dragons allocated seed capital to 3 business ideas:

1. Carl Briesman – science field
2. Joel Robinson, Zeke Waring and Vinura Jayaneththi – IT field
3. Emma Bauer and Monica Newman – IT field

Background

• In the 2007 Upper Hutt youth survey, 37% of young people said they wanted more opportunities to learn about starting their own businesses.

ends