Innovative event to find Taranaki's best entrepreneurs and innovative businesses

Innovate Taranaki is looking for the region's best entrepreneurs. Photo/ Unsplash

An event that will find Taranaki's most talented entrepreneurs is launching this month.

The event will find and fund the smartest ideas and most talented entrepreneurs in the region.

Innovate, New Zealand's first mini-accelerator, was launched in 2011 in the Manawatū by The Factory — a team of experts that has been growing and funding companies since 2006.

Applications are open until Friday, May 27. The semifinalists are selected on May 31, and will be whittled down to the finalists after their pitch on June 6 and 7. The finalists then start their 10-week accelerator course on Monday, June 13.

Innovate Taranaki's genesis sits on top of a proven, decade-long framework that has had more than 1796 entries, 80 businesses created and over $5 million dollars of investment into Innovate companies.

Nick Gain, acting chief executive of The Factory, says Innovate's proven playbook has further extended reach into regional New Zealand this year,

"Validated in the Manawatū over the past 10 years, and most recently in both Hawke's Bay and Whanganui, Innovate has helped establish a pathway for entrepreneurs to work through their business models, connect to their local and our national mentor scene, and opens the door to investment, something every founder understands is crucial to their game."

Taranaki's Innovation HQ is partnering with The Factory to deliver Innovate in the region. Several other Taranaki businesses are also sponsoring the event.

Innovation HQ business coach Ross Patel says, "As incubator themselves, Innovate is a perfect fit for Innovation HQ.

"We help Taranaki businesses launch and grow, so Innovate is a wonderful opportunity for those who are slightly earlier in their business development to take an idea to the next level."

Innovate Taranaki launched at the beginning of April and entries are rolling in. The entry process is quick and easy and gives anyone who has an idea the opportunity to turn that idea or side hustle into a full-fledged business.

Each finalist will be teamed up with local Taranaki business mentors who will be by their side throughout the entire process.

The winner will receive $5000 cash, entry into The Factory's accelerator programme run out of New Plymouth, and the ability to receive investment from an active angel community in Taranaki and the Manawatū.

Director of Innovation HQ and CEO of IT training academy Learner Me, Simon Singh, says Innovate Taranaki is timed perfectly to complement Venture Taranaki's PowerUp (which concludes in June) to continue the local enthusiasm around entrepreneurship.

"Innovate targets those who are slightly further down their business journey and are needing to start testing or gearing up for launch."

Learner Me is sponsoring the event, as well as Opportuna CA.

Opportuna CA chief executive Stephen Hill says in many cases, it takes a village to raise a business and they're excited to see how the wisdom and passions of Taranaki's business community can come together to give new initiatives a healthy kickstart.

"Which ultimately leads to contributing to the thriving entrepreneurial ecosystem we have in this region. If you've got a solid business idea, if you need help to get to the next stage or you've got big, big plans that need many hands on deck and you're looking towards big investment, then Innovate is definitely for you."