When the final of the America's Cup gets under way today much more than a trophy will be at stake.
It is - let's be clear - not just a sporting event.
It is a contest involving technology, design, innovation, research and development. It also embraces electronics, manufacturing, software development, communications, marketing,recruitment, human resources, training, financial management and effective leadership.
The skills needed to win the cup are also those required to create a successful business or a successful economy.
The significance of New Zealand's cup success was not that it showed we have a lot of good yachties. It was because it demonstrated we have all the other skills required to win the cup - causing a lot of people to take a second look at what we have to offer.
The prize we won, and which is at stake today, is not just the 152-year-old Auld Mug. Part of it is the America's Cup industry that is worth the millions in extra income provided by syndicates, supporters and tourists.
But perhaps the biggest prize is the stage the cup provides for New Zealand to show itself to the world, and in particular, to the global business community.
It is fashionable in some circles to sneer at the whole Americas Cup circus as a silly billionaire's game of no significance to ordinary New Zealanders.
That is to totally miss the point.
Whether they know it or not, ordinary New Zealanders have already benefited hugely from our cup success.
It has created hundreds of jobs, earned huge sums in overseas exchange, given a massive impetus to our marine industries and made possible the development of the Viaduct Basin area. It has swelled the Government's coffers by millions of dollars in extra taxes, and created a lot of fun for a lot of people.
Even if we lose the cup there will be on-going benefits from the improved facilities, extra tourism and continued business opportunities.
It is already clear that investment and trade are flowing as a result of our gaining the attention of some of the world's most influential people.
And if we win again the future benefits will be even greater. Surely that's something worth cheering for.
