Flying Kiwis - Startup to Success: Overcoming Start-up Hurdles
7.30am - 9.30am, Wednesday 25 August 2010, Stamford Plaza, Auckland
It’s the risk takers, goal-setters and dreamers who drive growth and innovation in our economy. Some have overcome the start-up hurdles and built international businesses. Many fail. What are the key challenges all growing businesses face and how can they be successfully overcome? Three of New Zealand’s most seasoned entrepreneurs talk about building a business from idea to success, and what comes next. What went well, and not so well.
- Concept - the key initial questions: Will it work? Does the market want it? Will customers buy it?
- People - how to find, motivate, reward and keep the people you need. Finding the right mix of skills.
- Funding - once the seed capital has been spent, where you find the development capital and funding for the longer term?
- Development - getting to market without running out of money in the process.
- Growth - when to bring in new talent and experience. Must the founding group stay in control?
- Governance - getting the right balance of skills and experience on the board. Key issues for the directors and senior management.
- Exit Strategy - developing and executing a successful sale/divestment process.
NextWindow’s journey is from a start-up in 2001 to a major player in the global touch screen industry, with customers like HP, Dell, Sony, Samsung and NEC. The company is privately funded. As CEO since 2002 Al Monro has been responsible for creating the strategy for the company and building the team for its success.
Prior to that Al was part of the IBM New Zealand executive team, including roles as Auckland Regional Manager and National Sales Manager. He graduated LL.B from Canterbury University and has worked in private equity.
NextWindow is a designer and manufacturer of optical touch screens for integration into all-in-one computers, computer displays, and large format screens. With offices in New Zealand, Taiwan, Singapore, Japan, Korea and the U.S., the company’s scope includes high-volume, cost-effective manufacturing for PCs as well as solutions for digital signage, and interactive education.
Chair - Imarda, Co-found/Chair - Endace
It has been said of Selwyn Pellett that he has redefined the term 'serial entrepreneur' for New Zealanders. Since 2001 Selwyn has founded and co-founded 3 technology start-ups, 4 other businesses while investing in three others. As the CEO of Endace he focused on network security solutions and was instrumental in the company becoming the first New Zealand company to list on the UK's AIM stock market in June 2005. Today Endace has operating entities in New Zealand, Australia, Singapore, America and England and enjoys revenues of over 50 million dollars.
In July 2007 with a market capitalization over $180 million Selwyn stood down as CEO of Endace to focus on acquisitions and the commercialization of Imarda's 3rd generation fleet management solution.
Selwyn is passionate about New Zealand and helping develop a high-wage, high-growth, elaborately transformed and sustainable economy.
Founder - Ancare, New Zealand
Chair - Ancare, Scientific
Colin started Ancare in 1985 with a mortgage on his house and $15,000 in holiday pay. Since start-up, Ancare has gained an international reputation for innovative animal health products, particularly for the sheep and cattle parasiticide market, and significant market share across several animal health categories. By the time Ancare merged with the multinational Merial in 2008 it had an annual turnover of $45m. Recently, Ancare opened a multi-million dollar research and production complex in East Tamaki.
With the sale of the Ancare business, Colin started Ancare Scientific, an R&D company to develop animal health products for Merial internationally. The company employs of twenty researchers in New Zealand and uses contractors around the world. During 2010 Colin has chaired a New Zealand Trade and Enterprise Task force reviewing Primary Industry Strategy and outlining a whole of government strategy for Food and Fibre Industries.