A taste of Dragons’ Den for young entrepreneurs
14 Jun 2019
It wasn’t Dragons’ Den but it was equally harrowing for the four College teams who today presented their innovative businesses before judges and other contestants in the nationwide Young Enterprise Scheme.
The boys were among 120 teams across Canterbury who were pitching in different venues to be selected among the 10 best in Canterbury to progress to the regional finals being held in October. The two top teams from that event will go through to the national finals in Wellington in November.
The College boys’ businesses - repurposed wine barrels, mussel shell soap, creative antlers and rugby ball wallets – were graded on the quality of the business overall, the quality of the product, marketing research and marketing campaign, sales potential, innovation and sustainability prospects.
Each team spoke to a slick power point presentation, covering the rationale for their business, its products, its scope and finances.
MBHP Barrels Ltd was targeting parents and ‘homeowners with porches’ for its novel use of second hand wine barrels, marketed with the catch line “Putting the wine back in the barrel.”
SFP Products vowed ‘spend a little, help a lot’ was the way to go, raising money for charity and awareness of disadvantaged children in Cambodia, with its unique wallets made from old branded rugby balls.
The team who have developed Kakahi Mussel Shell Soap, a quality exfoliant using a sustainable waste product, concluded from market surveys that over 82% would buy their product which is being made for them by the Soap Factory in Auckland.
And High Country Antlers explained how by collecting naturally shed antlers, they had developed a market for creative coat hooks, dog chews, and stylish candle holders.
The four judges gave all the teams constructive feedback, with the College boys sampling something of the Dragons’ Den experience along the way.