One day talk fest hosted by EMA in skycity about how to go global.
Nick K was there as guest of asianz org.
Minister Wayne Mapp opened the batting
Renaming of min of research sci and tech to Min of Sci and innovation (the min of scin) designed to tell a different story to the one about the boys in the lab. More about the story of ideas to market.
Commented on slow recovery from recession and that where he goes he sees that it is innovation that is driving success stories in NZ business.
Enthusiastic about rise of middle class in Chi-India, and opportunities for high end NZ ‘healthy foods produced sustainably’.
Apparently training programmes at universities and polytechs are an ‘issue’.
Talked about govt R&D vouchers which access FORST funding.
Next up three role model business people gave a story with key highlights.
Brett Hewlett / CEO Comvita.
Different thinking : Don’t be an exporter – be a global business – whats the diff ?
Thinking around how the business sees itself and its staff. Go offshore and hire locals / don’t let expats think theyre the locals once native. Think about importing value monetary and otherwise. Focus on “internationalising your business” not exporting.
Obs / Comvita channel diversity saved their bacon in the recession, being able to shift product to other channels
Exporter intl bsns
Invest in product invest in market
Use distributors move to control dist – direct.
Distant from market close to market
Forge new relationship leverage existing relationships
breadth across markets depth within fewer markets
Sarah Gibbs – Founder and CEO / Trilogy
Brand development outsourcing model for business gives great flexibility to respond to markets. Trilogy has 21 staff.
Sarah insight was 5 –P of going global which were;
Product – be export ready, rules and regs wise. Comply from day one.
People Personality – pick ambassadors/ change junkies/ larger than life types.
Patience /persistence – it’s a balancing act to negotiate access in front of competitors.
Rod Drury/ CEO Xero
Speaking as a repeat entrepreneur Rod bemoaned the fact that NZ cannot do business the way the rest of his clients in USA and EU do as our broadband is not up to it.
Talked about govt has to get infrastructure right .
Raising capital to go offshore seen as a the big barrier, which Rod thinks is best addressed by lifting investment into governance which leads to finance following.
Type 1 ( avoids risk) and type 2 (wont miss opportunities) bsns
Then morning tea – it was great
John Allen/ CEO of MFAT showed some video of ambassadors round the world and why MFAT is useful to business from NZ.
MFAT role in multilateral trade deals versus a raft of “each-one-different” bilateral etc. MFAT as strategic players in market access for NZ inc. Also spoke of need for discipline within markets to protect NZ inc concept.
Says research out of date as modern NZ business are selling services offshore and research is around goods.
Key concept for ANZAC is how to “market the single market” to those outside it. Sees big role for NZ in this. NA and Aust approaching “ final stage of economic integration”.
IRL CEO Shaun Coffey gave a talk on commercialising R&D. Wayne gretsky invoked as worst shooter in league, but highest scorer – why – more shots on goals than any other player. Spooky.
Commercialisation process still highly variable across institutions, industries etc.
Peter Chrisp incoming CEO of NZTE gave video talk from china.
Doesn’t see product mix for NZ exports changing from three way split of commodities / value added to com.. / design led businsses Important to focus on all rather than see as a choice.
Sees greater collaboration within NZinc to take us to a “work smarter” place rather than a “work harder” place.
Then lunch – also good.
Afternoon was a workshop choice. I went to protecting your balance sheet, where the risks around cash flow issues while waiting for payment and funding the order up front for ‘first timers’ who have not much capital were aired. Export credit office role as last resort funder for deals that cannot get private cover, and increased use of letters of credit since crunch were interesting.
A run down on Fonterra global ops and significance for NZ etc. usual stuff.
Wrap up by Phil OReilly
Big idea was that we need to up the communication in and around NZ for higher collaboration leading to serendipidous – ness.
Idea also that a key aspect of our offshore image is the “least corrupt business country” in the world, and the highly ethical decisions being made by NZ businesses around the world.