$100K still up for grabs in The Virgin Business Challenge

$100K still up for grabs in BNZ Presents: The Virgin Business Challenge

Entrepreneurs with what it takes to go global have until 17th Nov to stake their claim

Kiwi companies need to get in quick to take advantage of a unique opportunity to take their business to the world. BNZ Presents: The Virgin Business Challenge closes for entries on November 17th with finalists being announced on November 23.

Entrepreneurs will be challenged to pitch to a top New Zealand business panel for a Virgin, BNZ, Air New Zealand and Virgin Australia group of airlines prize package specifically designed to connect them to the world.

BNZ CEO and challenge judge, Andrew Thorburn, says he is heartened by the quality of businesses that have entered the challenge so far.

“What we’re particularly pleased to be seeing is the superb calibre of entrants from the online, technology and manufacturing industries who are on the cusp of global expansion.”

Sir Richard Branson, founder of Virgin, said he was looking forward to meeting the winner and sharing with them the lessons he has learnt on his own entrepreneurial journey.

“Mentoring is crucial to the development of entrepreneurs and can help them overcome many of the obstacles the business world will throw at them,” said Branson.

“We’re always looking for the next big thing and Virgin is looking to New Zealand as a great source of talent and ideas,” he added.

The challenge will be looking for Kiwi entrepreneurs who demonstrate creativity and innovation with the potential to go global, aspire to reach NZ$50m turnover within five years and live up to the Virgin values of being customer centric, challenging the status quo, being ethically driven and having a sense of fun.

BNZ Presents: The Virgin Business Challenge will challenge Kiwi entrepreneurs to demonstrate why their business deserves a shot at world markets and pitch for a prize pack that includes: time with Sir Richard Branson; a $100,000 cash prize from BNZ to support the internationalisation of the business; a BNZ business education scholarship; mentoring from Virgin and BNZ executives; and access to Virgin meeting rooms worldwide.

Air New Zealand and Virgin Australia group of airlines will also provide the winning business with a world of opportunity via an exciting travel package which includes domestic and trans-Tasman destinations, as well as flights to the global business capitals of London, New York and/or Geneva.

To enter, entrepreneurs should go to the BNZ website at www.bnz.co.nz/virginchallenge.

About BNZ

Bank of New Zealand was founded in 1861 and has been an integral part of New Zealand life ever since. Today the bank employs over 5,000 people in New Zealand; works with Personal, Business, Agri and Private Wealth clients; and has 180 retail stores and Partners’ Centres across New Zealand.
Bank of New Zealand is a subsidiary of the National Australia Bank Group of companies; and is governed locally by a fully empowered New Zealand Board of Directors.

About Virgin Group

Virgin Group (‘Virgin’) is a leading international investment group and one of the world's most recognised and respected brands. Conceived in 1970 by Sir Richard Branson, Virgin has gone on to grow successful businesses in sectors ranging from transport, mobile telephony, financial services, leisure, music, renewables and health & wellness. Virgin has created more than 400 branded companies worldwide and employs approximately 43,000 people, in 29 countries. Global branded revenues in 2010 exceeded £13 billion ($21bn).

About Virgin Australia group of airlines

Virgin Australia group of airlines (ASX: VBA), formerly the Virgin Blue group of airlines, was launched in 2000 as the first sustainable low-fare airline in Australian skies. It has established a global reputation as an innovator and leader in the aviation industry; renowned for the warmth of its people and the quality of the service they provide.

Starting out as a single airline operating a single route with just 200 team members, today the group employs over 7,000 people and includes multi-award winning domestic airline Virgin Australia (formerly Virgin Blue); international long-haul airline V Australia; international subsidiary airline Pacific Blue; and Polynesian Blue, a joint venture airline with the Government of Samoa. Virgin Australia is currently in the process of re-launching its domestic and short-haul international product, and both V Australia and Pacific Blue airlines will operate as Virgin Australia by the end of 2011.

Virgin Australia operates a fleet of modern Boeing 737, 777, ATR turboprop and Embraer E-Jet aircraft flying to 32 Australian and 16 international destinations including the USA, UAE, New Zealand, Indonesia, Thailand, Papua New Guinea, Fiji, Samoa, Tonga, Vanuatu and the Cook Islands.

About Air New Zealand:

Air New Zealand is proud to be a member of Star Alliance. The Star Alliance network was established in 1997 as the first truly global airline alliance to offer worldwide reach, recognition and seamless service to the international traveller. Its acceptance by the market has been recognised by numerous awards, including the Air Transport World Market Leadership Award, Best Airline Alliance by both Business Traveller Magazine and Skytrax. The member airlines are: Adria Airways, Aegean Airlines, Air Canada, Air China, Air New Zealand, ANA, Asiana Airlines, Austrian, Blue1, British Midland International, Brussels Airlines, Continental Airlines, Croatia Airlines, EGYPTAIR, LOT Polish Airlines, Lufthansa, Scandinavian Airlines, Singapore Airlines, South African Airways, Spanair, SWISS, TAM Airlines, TAP Portugal, Turkish Airlines, THAI, United and US Airways. Avianca-TACA, Copa Airlines, Ethiopian Airlines and Shenzhen Airlines have been announced as future members. Overall, the Star Alliance network offers more than 21,200 daily flights to 1,185 airports in 185 countries.

For more information about Air New Zealand visit www.airnewzealand.com and for more information about Star Alliance visit www.staralliance.com

ENDS

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