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.

Kiwis are notoriously bad at reaping the reward from our innovations. The reasons include:

• The inventor likes inventing, and has no or little interest in business, so the invention stagnates, never to see the light of day, or market.
• The inventor falls into the kiwi #8 wire trap believing they should do almost everything themselves, including building a business – when they are not the best people to do it. Inventors and technical specialists tend to be product driven rather than market focused, and this has been the source of failure for many promising innovations.
• Inventors often undervalue their inventions as they seem so obvious to them, and do nothing with them.

It’s time to turn the tables, and make sure that everyone benefits as much as they can from kiwi ingenuity – inventors, entrepreneurs, investors, customers, and the economy. To do this Upstart is facilitating matching inventions with an appropriate business driver right from the start. That’s what the “Upstart Den” is all about. It’s an opportunity for inventors to present their inventions in a safe environment to potential entrepreneurial partners or licensees who have the character and talent to drive the invention to commercialisation so everyone benefits.

We already have of a number of inventions and entrepreneurs, but there’s room for more.., so take action NOW and make sure you’re in the right place at the right time to benefit from your talents and skills…! Even if you aren’t sure what the commercial potential of your innovation or invention is, or don’t know what business to start if you’re an entrepreneur, don’t worry. We’ll work through that with you when you contact us.

Where: Upstart, Level 1, 333 Princes Street, Dunedin
When: Thursday 4th March, 2010, 7pm
Applications: close 18th Feb 2010, email info@upstart.org.nz or phone Lisa on 467 7013