New Zealand Celsias

A Christchurch-based innovation development programme is looking for businesses with innovation challenges to tackle this summer.

The Venture Out programme enables Lincoln University students to apply best practice innovation methods to real business challenges. The programme takes place during the University’s summer break (October 2011 – February 2012). The unique programme brings together researchers, Lincoln University’s top students, and some of Canterbury’s business people.

During the project, students identify and weigh up opportunities using internationally-recognised innovation development processes. They may conduct market validation, set up customer trials, or develop product feature requirements or early stage business plans. Students are awarded scholarships to work on the projects.

Venture Out is part of powerHouse.

Organiser Tim Chapman, a venture partner at powerHouse, says that in the past Venture Out has led to real commercial applications. Three start-up companies have been formed as a result, attracting $1.13m of investment. A further $1m investment is currently under negotiation into two further companies. Pre-seed funding of $900,000 has gone into Venture Out projects; others have achieved marketable prototypes, customer trials and further investment.

Venture Out provides many benefits. “Not only do businesses get a chance to experiment with innovation opportunities; students get access to scholarships and relevant experience in their fields of interest,” says Tim Chapman. "Given what Christchurch businesses have been through, this programme offers them an easy way to explore how to innovate their way through the rebuild."

Lincoln University’s Director, Research and Commercialisation Peter John says Venture Out provides an opportunity for collaboration on projects, drawing from knowledge generated from Lincoln University, Plant and Food Research, AgResearch, Lincoln Ventures Ltd and Landcare Research.

More than 120 Lincoln University students have participated in 54 individual and team projects as part of the programme since it began four years ago.

If you are keen and want to  express interest, email info@powerhouse-ventures.co.nz by Friday 14 October, 2011.