$6Mil Investment Challenge Grooms 25 NZ Businesses

Media Release
28th November, 2007

The $6 Million Investment Challenge Grooms 25 Selected New Zealand businesses

The third phase of the $6 Million Investment Challenge saw 25 of the New Zealand companies selected, receive practical advice on how to prepare to expand their operations into the UK.

The Challenge launched in New Zealand in August this year by UK Trade and Investment and Unlimited Magazine offered small to large companies a chance to get investment ready and pitch for their share of an investment pool of $6M.

More than 130 New Zealand companies recently attended regional seminars which laid out what it would take to expand their business into the UK. Following the seminars, 52 of those companies felt they were ready and submitted their business plans to the selection panel. From those, 25 companies were invited to attend the workshops.

Last week sixteen companies in Auckland and eight companies in Wellington attended workshops where they were offered advice on how to prepare their pitches to potential investors, and with guidance were given the opportunity to present dummy pitches. They learned how to identify target markets, better position their business, develop a clear action plan, understand what investors are looking for and perhaps most importantly, how to present clearly and persuasively.

Julie Gill, publisher of Unlimited Magazine, says: “The workshop highlighted what innovative companies we have in New Zealand, but it also reinforced the fact that a number of companies have significant work to do if they wish to launch themselves successfully in to the UK”.

Participating companies can now choose to take part in a tailored in-market visit to the UK in further preparation for their pitches to potential investors. The trip in the New Year will give the companies a taste of what will be required if based in the UK, the local financial, legal, employment and taxation infrastructure and what assistance is available from regional UK Trade and Investment offices.

The 25 companies are from Auckland, Christchurch, Tauranga, Havelock North, Feilding, Napier and Wellington and offer a wide range of services including technology, engineering and entertainment.

ENDS

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