The inaugural Upstart Den was held in Dunedin on Thursday evening, 4th March at Upstart with 11 inventions and business concepts showcased in front of 16 “entrepreneurs” who have been looking for business opportunities they can drive. As a result of the evening Upstart has received 23 requests to facilitate and support follow up discussions, negotiations and due diligence which could lead to the creation of new businesses.

The variety of inventions showcased was extensive including low tech products already in production and selling and with almost immediate international sales potential, to high tech business concepts which will take years to develop but have the potential to be worth tens of millions. Either way, successfully commercialising any innovation is good for the region and will create employment opportunities and generate funds flowing into the local economy. The event also demonstrated the potential to find business opportunities even when you have no money to invest.

Upstart Den was hailed as a success and received widespread praise from participants who were  vocal in their expression of gratitude for the opportunity to connect with likeminded people who now seek to stay in touch. Two views that echoed around the room were the surprise regarding the extent of inventiveness and value that is lying dormant in Dunedin and Otago, and the ease with which these ideas could be presented in a supportive and non threatening environment.

Upstart Den was created in an attempt to maximise the value created in the “back sheds” of New Zealand through matching inventors, and budding entrepreneurs with a business concept with the people with the resourcefulness, drive, personality and skills to turn them into businesses. Currently far too many inventors and innovators in New Zealand operate with a number 8 wire mentality trying to do everything themselves, with a significant opportunity cost to local and national economic growth.

Upstart has now been approached to repeat the exercise in Queenstown and Christchurch to address a gap in the market. Inventors and entrepreneurs from around the country are invited to register their interest with Upstart to be notified when and where the next Upstart Den will be held so they can be invited to participate.

The support of James and Wells Lawyers who were available on the evening to assist inventors with legal guidance around intellectual property such as patents and trademarking was tremendous, and Upstart appreciates their extremely valuable and knowledgable contribution.

Tags: business opportunities, entrepreneur, Inventor, non money down business, Upstart, Upstart Den