5 Oct 2009

Business competition attracts newly redundant

7:01 am on 5 October 2009

A business competition is attracting recently redundant professionals who want to turn their ideas into money-making empires.

In a format similar to the television programme Dragon's Den, an Auckland-based business incubator, The Icehouse, is asking entrepreneurs to pitch their ideas to a panel of judges in 60 seconds. The final winner will gain a three-month secondment to its mentoring programme.

Called Fast Pitch, the competition runs over three evenings this month, with the finals on 27 October.

Icehouse chief executive Andy Hamilton says he's had many entries from people keen to get their ideas off the ground.

He says competitors need help to structure their pitch so they can get the most important information across within the 60 second timeframe.

The Icehouse has a network of advisers, angel investors and coaches and has helped companies secure about $35 million in combined investment since 2001.