The Great New Zealand Business Venture, a business plan competition offering $360,000 in prize money to spur and assist entrepreneurs, has been inundated with entries.
More than 350 business ideas have been received so far and entries do not close until the beginning of May.
"That's the highest number of entries that
we are aware of in any of these competitions, which have been run at least 14 times around the world," said the venture's chief executive, Bridget Wickham.
All contestants were entitled to mentoring and coaching as they developed their business plans through the three stages of the competition.
"We have support from the universities and from a range of other people and we should be able to cope with all the mentoring requests we receive," she said.
Contestants must submit their business idea for phase one of the event by the beginning of May. They will receive feedback on their ideas and 20 winners will receive seed money awards of $3000 each.
Ten phase two winners will each receive awards of $10,000.
The overall winner at the end of phase three, the preparation of a detailed business plan, receives $80,000. Information is available at www.greatventure.co.nz
- Rob O'Neill
