10 Mar 2010Ever gone away on holiday and returned to defrosted and rotten bait, milk and ice cream as a result of your fridge breaking down?
It’s a nightmare no one wants to face but one that may be a thing of the past if one entrepreneurial company continues its growth.
iMonitor, a fledgling company specialising in wireless monitoring and control technology, has come through AUT’s Business Innovation Centre (BIC) and is one of three companies that recently graduated from the BIC.
Prime Minister John Key was present for the graduation ceremony at the AUT Manukau campus.
The BIC is located on AUT’s new Manukau Campus and offers a unique collaborative environment and is focused on the transformation of innovative ideas into business reality. These ideas encompass the continuum from pure technology research to established technology businesses.
Established as a leader in supporting the growth of the Knowledge Economy, the BIC offers a compelling one-stop environment equipped to turn ideas into commercial reality.
At the core of the BIC is the award winning technology business incubator. The BIC offers support to a wide range of early stage technology companies with high growth potential.
iMonitor entered the business incubator in 2006 when former broadcasting engineer, Allan Weeks, and electronics engineer, Robin Alden, came to the incubator with their basic idea and some thrown together technology.
The incubator offers expertise in areas that entrepreneurs are traditionally weak in, such as developing technology into product and finding customers, as well as company issues such as legal structures, shareholder agreements and cash flow modeling, says acting BIC chief executive, Kevin Pryor.
“What the BIC did was help iMonitor get the business platform secure, make sure Allan and Robin were introduced to the right people and had support and guided the company and its products down a commercial path.”
iMonitor has gone from its two founders to 12 employees who design, test and engineer a variety of innovative technology products and is soon to expand overseas.
iMonitor along with two other technology companies- Everv8 and Airo- graduated from the BIC. They are the first company graduates to come out of the BIC in its new location on the Manukau campus.
“These companies have come to us in their very early stages of development and we’ve helped them to hone their ideas and get their products out there in front of the right people.
“But they’re now at a stage where they have to stand on their own feet. I am confident we’ve given them the right tools and know-how for them to continue on their successful paths,” says Pryor.
If you think you have an original idea then the BIC want to hear from you. Phone 09 921 9500 for a free evaluation.
For more information about any of the companies or the BIC visit the Business Innovation Centre website.
Enervate have an innovative way to convert energy which is otherwise lost (in the form of friction, heat etc) into a reusable form. The transformed energy can be used for light commercial purposes or fed back into the national power grid. The innovation is environmentally friendly and is obtained from a renewable resource.