Shot in the arm for Ōtepoti entrepreneurs

Anyone wanting to gauge the health and breadth of entrepreneurial verve in Ōtepoti need only look at the enthusiastic response Startup Dunedin received for a one-off microgrant fund. They had a whopping 49 applicants vying for 12 microgrants.

Startup Dunedin is founded and funded by the University of Otago’s Business School, Otago Polytechnic and the Dunedin City Council. Its mission is to support local entrepreneurs to succeed by facilitating connections, capability and community.

The microgrants were conceived of as a one-off cash injection to enable early-stage Dunedin startups to run an experiment, meet a goal, or move the needle on a specific goal or objective. They’re perfect for fledgling entrepreneurs, offering a vital financial boost to help smart ideas gain traction.

Startup Dunedin general manager Rachel Butler says they would have needed ten times the amount available in their microgrant purse to meet the needs of all 49 hopefuls.

“What really surprised us is how many we could have funded. We know small bits of funding unlock lots of potential, but we received so many high-quality applications.”

The 12 projects, receiving a total of $14,426, showcased a diversity of industry, ideas and motivations.

There was an AI-driven smart doorstep assistant for people in vulnerable situations; a course planning and review website for university students; a dementia support app for independent living; a rangatahi-led web video series for a Dunedin youth-focused production company; a social tabletop gaming platform; a food company specialising in Tongan fare; a gamified phonics and spelling app for older learners; a cosmetic and perfume maker; online sports nutrition for athletes; software to help students find industry placements; a digital platform to help families access disability support; and a new health product (patent pending).

Rachel says there’s a massive gap in funding for founders to run small experiments to test the validity and feasibility of their ideas.

“It might be meeting potential customers to better understand the pain points, it might be building a prototype to test with a customer or to buy equipment to allow them to make something to test the market. It’s not big pots of funding; it’s flights to Wellington or it's a new fridge to double their capacity. They're often already really working on their business – it just helps speed up the next part of the process.”

Commerce Pro-Vice-Chancellor Maree Thyne was one of the panelists tasked with whittling those 49 eager applicants down to a top dozen. She says the fact that they had such a rich line-up to choose from confirms the robust health of Dunedin’s collective innovative spirit.

“We’re so fortunate to have so many individuals in Ōtepoti with really bright ideas – they just need a little bit of support to get them off the ground. We’ve had some amazing home-grown businesses – like ADInstruments and Oritain – and I think we need to celebrate this more as a city and a region and find ways to further enable it.”

Maree thinks Dunedin’s entire entrepreneurial ecosystem – and its subsequent economic health – would benefit hugely from a greater degree of integration.

“That’s something we’re conscious of in the Business School – of working closely with the likes of Startup Dunedin so that there’s somewhere – a larger place – for people to come to with innovative ideas. Then, if we can get those people into our classrooms to mentor our students and encourage our students to work on their projects, everyone benefits.

“The Business School is well positioned to be a massive part of that broader ecosystem. We’re a big supporter of the Young Enterprise Scheme because we recognise the value of inspiring secondary school students. We also want to ensure these awesome young minds know what opportunities are available to them when they leave school – like our Bachelor of Entrepreneurship, which is specifically designed to encourage and enable skills around innovation.”

Given the evident hunger for microgrant assistance, Startup Dunedin plans to establish an annual one-off fund with the help of community partners. That’s another good shot in the arm for Ōtepoti innovation.