Contest offers $50,000 of help for a smart idea

Murray Fenton says the winning idea will have a humanitarian aim. Photo / Getty Images

Auckland plastics and medical device manufacturer Adept is offering its resources to the winner of a competition for a new humanitarian product.

Managing director Murray Fenton said the winning idea would have a humanitarian point and get $50,000 worth of help, including design, development and regulatory expertise.

"The sort of people who have the smart ideas we want to work alongside are, in the majority of times, extremely busy people," Fenton said.

"We have been constantly amazed by the wealth of great ideas people have, particularly in the medical field, which could make a significant difference to life.

"What they lack is the time or ability to take it to the next step, and that's where we can help."

Nearly everything Adept made ended up overseas either directly or as part of another company's product.

"We're really working fairly close to capacity, so no, we're not feeling any of the R-word [recession] at all."

The scope of entries was not restricted, although a medical and plastics-based product would best suit Adept's expertise.

The competition was an exercise in philanthropy which fitted with the philosophy of the company and there were no strings attached, Fenton said.

The prize was enough to develop a reasonably complex product to a stage where someone could approach a financier with an aim to manufacture.

All the intellectual property would stay with the entrant who could walk away after the development, he said.

"If we've kept them happy, if we've done a good job for them and we've made it a commercial product, which is the whole aim, then normally I suppose we should expect that they would think we're the right people to partner with."

ADEPT PRIZE

* $50,000 worth of development work up for grabs.
* Enter at www.adept.co.nz.
* Closing date is May 25.by