Fifteen promising companies have made the cut and are now in the running to share $1 million of business funding.
The selectors for the University of Auckland Business School Entrepreneurs' Challenge have whittled down the almost 60-strong pool of entrants. The businesses who made it through must now submit more comprehensive entries, before finalists are announced in October.
Now in its third year, the challenge aims to help small-to-medium businesses expand overseas by investing up to $1 million in their operations in the form of a low-interest, three-year loan. The winnings can be scooped up by one business or shared by up to five.
The 15 qualifiers come from sectors ranging from health and security to tourism and IT.
Chairman of the selection panel, Brian Hannan, said the calibre of the entrants showed the potential New Zealand has for innovation and entrepreneurship.
