$2 million added to funding for New Zealand entrepreneurs

25 October 2011

Entrepreneurial financial support in New Zealand has been boosted tonight by the announcement of an additional $2 million being added to The University of Auckland Business School Entrepreneurs’ Challenge funding pool.

At the presentation of the 2011 award winners of the Challenge at the Business School tonight, investment committee chairman Dr Brian Hannan has revealed that original donor, England-based ex-pat financier Charles Bidwill, has added another $1 million to the $3 million he donated three years ago to set up the business competition.

Together with an anonymous donation of $1 million, the extra $2 million in funding will assist the investment committee to help New Zealand’s most enterprising to succeed, Dr Hannan says.

“Charles Bidwill is thoroughly impressed with the programme, the links being forged by the Business School with entrepreneurs and the early international success of our six previous winners,” he says.

“Both donors have been very generous, and believe that entrepreneurship in New Zealand is a truly worthwhile investment in the country’s future.”

Four more winners have joined the six companies given financial support to go global over the past three years. Pet food manufacturer K9 Natural of Christchurch will receive $200,000, Auckland tourism company JUCY Group will receive $500,000, Auckland photography design company enlight photo will receive $200,000, and Auckland-based financial services company KlickEx will receive $100,000.

Around 100 companies entered the Challenge this year, with six finalists named last month.