AN IDEA to create an Internetbased language resource for the New Zealand school curriculum has won University of Otago first year student Craig Smith the NBR Audacious 40K Otago Business Creation Challenge. Mr Smith (18), whose prize was worth $20,000, was one of 10 finalists in the competition which aimed to encourage and stimulate business thinking and entrepreneurship in University of Otago and Otago Polytechnic students. ‘‘I’m absolutely stunned . . . overwhelmed,’’ he said of his win. He had huge plans for his Crafty Kiwi Creations’ company plans to produce the ultimate interactive revision tool specifically for teachers and students and said he was confident the software would be in use throughout New Zealand by the middle of next year. Judges described the student from Auckland, who also won the best use of technology award, as a young, dynamic entrepreneur who was going places. Runner-up was Otago Polytechnic’s Simon Wharerau, of Wharerau Design Division, who proposed a watersport product design company. The prize was worth $10,000 and he also won the best use of design award. The two-stage competition, began with the $10,000 business idea challenge which drew 50 entries, and was followed by the business creation plan challenge. Twenty-four ‘‘companies’’ entered and were whittled down to the final 12. Contestants had to submit detailed plans for new and innovative business which were evaluated by a panel of business judges, and the finalists also had to submit to a ‘‘55-second pitch’’, in which they presented a summary of their entries in public, similar to the concept of TVNZ’s Dragon’s Den. Dragon’s Den panelist and guest speaker Barry Coleman had some harsh words for the finalists after hearing their pitches at last night’s award ceremony at the Otago Art Society Room, in the Dunedin Railway Station. ‘‘It wasn’t an entrepreneur’s pitch . . . they were radio ads. To get that money you’ve got to go the whole 55 seconds. You’ve got to paint an emotional mental picture.’’ During his speech, the multimillionaire publisher of the National Business Review also shared a few tips to his success ‘‘Creating wealth is a mind game, nothing more, nothing less. The hardest thing is to make the decision to take the plunge.’’ Set goals and targets and everything followed from that he said. Entrepreneurs also had to be prepared for things to go wrong. They always did. ‘‘In 30 years in business nothing has ever gone to plan.’’ Other awards were: Judges award, Rebecca Arnold (HRT Cake); best use of innovation Deloshan Nawarajan and Baktash Fazelzadeh (Magico Productions); best export potential, Alqumber Mohammed (Noor Biotechnologies); most socially and environmentally responsible, Simon Carroll and Rodger Shave (BigUps); Barry Coleman’s dragon award and people’s choice award, Jo Bagrie and Blair Lundin (Technosavvy IT Solutions). Big night . . . Overall NBR Audacious winner Craig Smith makes a 55-second business pitch to the audience at the Otago Art Society rooms in the Dunedin Railway Station last night. PHOTO: CRAIG BAXTER
Barry Coleman’s dragon award and people’s choice award recipient Jo Bagrie from Technosavvy IT Solutions. PHOTO: CRAIG BAXTER
