After introductions, Mr Simons gave a short talk about ultrafast broadband.
Then the various groups were allotted a task that had to be completed in 20 minutes. This involved coming up with an idea for a new product or service - with a carrot of a prize for the best one.
"I watched the groups and they were so engaged, it was a delight. You don't get that too often," Ms Duncan said.
A lot of the ideas involved information technology and the winner was an idea about giving people virtual experiences, down to sensations such as touch and smell.
But Ms Duncan said while future ideas had to be innovative, they didn't necessarily have to involve technology. And the innovators could come from any walk of life.
"It could be someone working on a fuel-injection system in their back garage. It's the connection between ideas that gets the third wave product."
Network members will now be asked to email their feedback on how the first meeting went with the idea of getting together every two months.
One beneficial result of the meetings is that they will make members aware of the quality products and services available in their own district.
"Wanganui doesn't know what Wanganui has got. We are world class so often," said Ms Duncan, who is hoping new products and services come out of the meetings.
Members will also be able to find out new ways to make their businesses work better such as Cloud-based computer software and social media marketing.
And they will be introduced to e2e, an organisation that incubates start-up businesses and assesses their viability. It's linked to the Bio Commerce Centre, a Massey University commercialisation partner. Synergies are to be developed between the Wanganui and Manawatu groups over the next 12 months.