Entrepreneurial mentor puts hand up

MEDIA RELEASE FROM BIZZONE

Entrepreneurial mentor puts hand up

An organisation that aims to ‘de-risk’ companies has put itself on the line.

The Escalator Service, which works to de-risk small businesses by making them investment ready, is a finalist in the 2010 Vero Excellence in Business Support Awards. The Escalator Service is up against Kerridge and Partners, The Learning Wave and Life Care Consultants (Hamilton) in the BDO Business < $5m turnover one on one Offering award.

The Vero Excellence in Business Support Awards are held annually to celebrate the best on offer to business in New Zealand. The brainchild of Sarah Trotman of Bizzone, the awards are sponsored by Vero and BDO, and are a key event leading up to the annual Bizzone Business Expo, New Zealand's largest event for business. The winners will be announced at a Black Tie Gala Dinner in the Auckland Town Hall on 20 May.

Escalator, a partnership between Economic Development Agencies of NZ and Deloitte educates, grooms and sources private investment funds for high growth potential companies on behalf of NZTE. Its target capital raising is between $100,000 and $5,000,000. It is New Zealand’s only complete specialist investment ready service for SMEs.

Last financial year Escalator trained 545 companies and worked with 203 companies in fundraising activities. During 2009 Escalator closed 22 deals, raising $11.m in finance for companies. The Escalator Service team acts as a national coordination, training and services business unit that administers$1.8m of NZTE funding into the emerging businesses of New Zealand’s economy.

Christchurch company Scitox that has developed a rapid toxicity analyser for waste water treatment plants with patented bio sensor technology was one of their success stories. Pacific Channel worked with the client towards the capital raise and the round of funding was over- subscribed, which resulted in it being cut at $1.3m.

Some of Escalator’s clients find they do not need to raise capital Escalator Services’ Mark Robotham points out but learn instead to confront and repair significant barriers to their growth and greater insight as to how to improve their business.

Roger Bell, Chief Executive of Vero Insurance, the Foundation Sponsor of the Vero Excellence in Business Support awards, says, “It is inspiring to see the impressive range of finalists that demonstrate international levels of best practice in their businesses and quality support as a key part of their business. This year there has been a resounding 163 nominations and entries which shows the growing commitment of New Zealand’s business support organisations to excellence.”

“In today’s tight economy businesses need to be excellent to survive, particularly in the support area,” Sarah Trotman says. “We have widened the scope of the awards to include South and North Island categories this year and the high number of entries for the awards speaks volumes about how business support is viewed by organisations today.”

The 37 finalists were selected by The New Zealand Business Excellence Foundation which provides an independent and robust evaluation process for the awards’ 10 categories.
“Excellent business support assists New Zealand businesses to build capability and capacity and in doing so they become more competitive and sustainable,” says Mike Watson, chief executive of the New Zealand Business Excellence Foundation.

Vero Excellence in Business Support Awards Finalists for 2010

BDO Business < $5m T/O One on one Offering
Kerridge and Partners
Escalator Service
The Learning Wave
Life Care Consultants

BDO Business < $5m T/O One to many Offering
Telecommunication Resolution Services
ActionStep
New Zealand Business Forums

BDO Business $5-10M T/O
Designworks
Video Pro
Digital Island

BDO Large Business > $10m T/O
Bartercard
UniServices
The Interface Financial Group
Fuji Xerox New Zealand
Kiwibank
Maclean Computing

BDO Not-for-Profit
Leadership NZ
The Otago Chamber of Commerce
Rotorua Chamber of Commerce
Waitakere Enterprise

BDO Government Local & National
carboNZero programme
EECA (the Energy Efficiency and Conservation Authority)
Inland Revenue
Statistics New Zealand

BDO Education Provider
Leadership NZ
Escalator Service
Life Care Consultants
Ochre Business Solutions

BDO Regional North Island
Rotorua Chamber of Commerce
Enterprise North Shore
The Web Company
GoFi8ure

BDO Regional South Island
The Otago Chamber of Commerce
Enable Networks

BDO Individual
Mike Tournier - carboNzero
Peter Meggison – Kiwibank
Rod Oram - Evanston Enterprises Ltd

See www.bizzone.com/awards or http://www.angelassociation.co.nz/index.php/escalator-home for more information

ENDS

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