Aspiring and seasoned entrepreneurs alike can see their business ideas reach new heights thanks to two high-profile business leaders who have developed an entrepreneurial education programme that aims to put New Zealand at the top of the world map when it comes to innovation.
This month, the Practical Innovation & Entrepreneurship Paper – an online course for Kiwis striving for success, built around The Periodic Table of Innovation – launches out of an innovation hub at Auckland University of Technology.
Co-founded by AUT Adjunct Professor and former advertising expert Mike Hutcheson, and educator, business mentor and inspirational speaker Catherine Newton, the paper gives Kiwis the opportunity to ‘think differently’.
“We want to help New Zealanders turn an idea into a tangible business model,” Hutcheson said. “We designed this course to provide business insight and practical tools to launch into the world of entrepreneurship.
“Kiwis are not short of great ideas, but they are short of being able to implement and commercialise their ideas. Our geographic isolation and ability to attract funding are some of the reasons behind not being able to develop scalable businesses that create jobs.”
The Practical Innovation & Entrepreneurship Paper welcomes its first official intake of students on 14 March, following its successful pilot programme in 2017. Just 12 weeks in length, the course arms participants with practical skills to test, develop and bring a business idea to life, or develop an existing entrepreneurial idea or business.
Catherine Newton, responsible for co-creation and delivery of the course training modules, is driven to inspire, educate and empower students – with a strong focus on helping women reach a level playing field.
“One of my key roles is to support female innovation,” she said. “With International Women’s Day tomorrow (Thursday 8 March), this is a timely reminder that women can do anything! We’re seeing a rise in female entrepreneurship, and our pilot programme attracted 60% women students, but we’ve still got a long way to go!”
Newton, who holds a Bachelor of Education Degree and Diploma of Teaching, as well as 20 years’ experience running her own businesses, draws on her experience as a teacher, business owner and business coach to mentor students to transform their ideas into reality.
“While NZ ranks fifth in the world for local patents filed, it converts only 22% into international patents. Denmark and Singapore convert 80%, and Finland 100%.”
At the outset of the course students present a business idea and upon completion, they will have a robust business plan in place for how to bring their concept to life, attract capital, business partnerships or collaborations.
Newton says this paper appeals to people all around the country because it’s a supportive and flexible learning environment for all ages and backgrounds and highly accessible through a website and app. Those wishing to participate don’t have to be enrolled as a full-time student at AUT either.
Hutcheson, who published his thesis Creativity in New Zealand Business, said: “as a nation of small businesses and comprised of people that derive from a pioneering heritage, creativity is in our DNA so it’s time to encourage entrepreneurialism locally to realise profits generated by the productive economy.”
While New Zealand ranks fifth in the world for local patents filed, it only succeeds in converting 22% of those into international patents. By comparison, Denmark and Singapore convert 80%, and Finland 100%.
The framework of the paper is The Periodic Table of Innovation – a world-first methodology developed by Hutcheson that is a powerful, responsive and applicable resource for developing and evaluating new ideas.
Students use The Periodic Table of Innovation to identify and address practical elements – from legal, cashflow, brand design, product design, infrastructure, quality control compliance, sales tools and customer experience to social media and sponsorship – needed for commercial success.
Hutcheson and Newton say entrepreneurship is the way forward, as the way we work is changing and they’re passionate about helping Kiwis develop sustainable businesses.
“We encourage those running an existing business and looking for additional support or motivation to take part too. Entrepreneurship can be a lonely route, which is one of the reasons we developed this programme to provide guidance from experts that have been-there-done-that,” says Hutcheson.
Enrolments for the first intake close this Monday 12 March with classes running for 12 weeks from Wednesday 14 March.
About Mike Hutcheson
Hutcheson was a key figure in the early days of Colenso BBDO, and went on to become managing director at Saatchi & Saatchi NZ. In 2003, he set up an innovation and start-up incubator called the Lighthouse Ideas Company.
He has published four books, is a regular television guest and presenter, and in 2012 was named Business Columnist of the year in the MPA Awards.
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