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NEWS
First a few words to apologise for the lateness of this newsletter. Not only have we lost a staff member, we also had some problems in what was supposed to be a simple web transaction that took the website down as you might have noticed. It has all been cleared now, but we apologise for any inconvenience and delays caused.
MTBI
New contact details
As MTBI clients may be aware, Casey Windrum has taken a position in grants management at the Macquarie University Research Office. If you have any administrative requirements, for e.g. booking rooms please continue to liaise directly with Josette Sultana at Reception. For any other enquiries or assistance please contact Thushy Sathiamoorthy on 9805 3135 or email him.
GOVERNMENT
New CEO of Commercialisation Australia
After months of speculation, Innovation Minister Senator Kim Carr announced on 19 April that the new CEO of Commercialisation Australia will be entrepreneur and venture capitalist, Doron Ben-Meir.
Senator Carr made the announcement in Melbourne while opening Collaborating for Success, a conference designed to bring together the Rudd Government’s innovation advisory bodies.
Of the new appointee, Senator Carr said:
“Mr Ben-Meir will play an essential role in building Australia’s innovation capacity and ensuring that great Australian ideas are developed in this country rather than going offshore.
“He has over 20 years’ first-hand experience in the venture capital market, building technology-based companies, assisting early-stage entrepreneurs to develop their businesses, and supporting the efforts of innovators to commercialise their intellectual property.
“Having founded and supported start-up companies, he has an intimate understanding of practical challenges they face and how to overcome them.”
Ben-Meir, who was a judge at Anthill’s 2007 Cool Company Awards, now has $196m to deploy over the next four years in the service of commercialising innovative Australian companies and ideas.
Commercialisation Australia is currently open to applications. For more information, visit their website or phone 13 22 56.
Doron Ben-Meir’s bio… (According to the press release)
“Mr Ben-Meir has extensive experience in the venture capital industry and commercialisation more generally. Over the past twenty years, he has been involved in numerous venture capital organisations, and has been a founder or co-founder of six start-up companies, as well as an investor, investment manager, and advisor to several other companies. Through these activities, he has built a substantial network both domestically and internationally.
Mr Ben-Meir has wide-ranging experience in innovation, commercialisation and technology across various industry sectors. Having founded and supported start-up companies, he has an intimate understanding of the practical challenges they face, as well as of what is required to make a company successful. Through his investments and advisory work, he has been involved in identifying and assisting innovative companies to commercialise their intellectual property and transition through various stages of business development.
Mr Ben-Meir is the Founder and CEO of Prescient Venture Capital, and has also held the positions of Principal, Private Equity and Venture Capital at Jagen Pty Ltd; General Manager, IT&T Investments at Escor Pty Ltd; and Investment Director at Momentum Funds Management. Mr Ben-Meir has also co-founded several companies, including EneSolve Pty Ltd (energy efficiency); Centricom Pty Ltd (on-line payments); Giesecke & Devrient Australasia Pty Ltd (smart card manufacturing), and Security Magnetics Pty Ltd (identification security).
His qualifications include a Bachelor of Science and a Bachelor of Electrical and Computer Systems Engineering (Hons) from Monash University, Melbourne. He is a member of the Australian Institute of Company Directors and the ANZA Technology Network, and a former member of the Australian Private Equity and Venture Capital Association Ltd (AVCAL).”
New business names briefing forums
The Federal Department of Innovation, Industry, Science and Research is inviting businesses to attend an information briefing on the proposed new national business names registration system that is due to start in the first half of 2011.
The purpose of business name registration is to help identify those trading under names that are not the same as their personal, company or other entity name. Currently business names must be registered in each state or territory a business operates in. The new system requires business name registration nationally only.
The briefing forums will be held in each capital city, to view the times and dates please go to the website. Registration for the forum is essential by email. Or call Wendy Chant on 02 6213 6044.
EVENTS
External events:
Very late notice due to our website issues:
INVITATION - ‘Creative Thinking: The Microbiz Edge for Profit and Productivity’
Date: Tuesday 1st June 2010
Time: 9.00am Registration - 9.30am to 11.30am Seminar
Venue: The Master Builders Club, 18 Fisher Road, DEE WHY
‘Creative Thinking: The Microbiz Edge for Profit and Productivity’ is a seminar packed with practical tips and is an interactive presentation which will demonstrate the power of creative thinking and innovation first-hand. You will leave inspired and ready to transform the way in which you plan your work, increase productivity and regain lifestyle balance. Don’t miss out on your chance to discover the power of creative thinking for you and your business. Creative Thinking: The Microbiz Edge is presented by Joanna Maxwell.
Joanna Maxwell is the founder of WorkInColour, which helps people and businesses use creative thinking skills to work in colour every day. She knows that creative thinking is not just for ad agencies and architects - everyone can do it, with a few tips and tricks. Joanna has overcome a career in corporate law to find her own mix of working in colour as a writer, trainer and coach. She’s helped the ABC, the Department of Education and businesses large and small to get creative, and small business coaching is a special pleasure. Joanna is fascinated by the opportunities for creative growth for small and micro-businesses, especially in changing times.
REGISTRATION: To register please visit the website.
FURTHER INFORMATION CONTACT:
Paul William-Smith – Regional Economic Development Coordinator – Warringah Council &
Pittwater Council Ph: 02 9942 2233 or Email.
COST: FREE TO BUSINESS OWNERS
CLIENT OF THE MONTH
Get to know your neighbours - The fourth introduction in our series is on our newest neighbour:
Ignite Intelligence is an established business specialising in Business process improvement and re-engineering consulting. Ignite is the first and only organisation in the world that has scaled Requirements Engineering Processes into a measurable framework. CEO and Director Nima Shanthakumar is a young entrepreneur who is also a student at Macquarie University. She is currently occupying Suite 6. For more information on Ignite Intelligence visit their website.
ADVERTISING
The most recent MTBI advertising efforts include:
Macquarie Business Directory – Autumn 2010, page 3 (view Flipbook)
TIPS & HANDY HINTS
Scott Cowley is a 17 year old university student, entrepreneur and aspiring author currently writing his first book ‘7 Days’. He is comparing surfers and entrepreneurs in this next section.
They might seem worlds apart, but in fact there are many similarities between surfers and entrepreneurs. Here are six and a half.
1. It takes time to learn how to stand up.
Before even reaching the water, surfers have invested time and money in their surfboard. Surfers then spend the next few months finding their feet. This is not easily achieved and brings with it a brief moment of exhilaration when they stand up for a few seconds. This journey is similar to that of an entrepreneur with a new startup, where profits are almost always swept away by unforeseen currents.
But once the skills of business are developed, the entrepreneur has them for life – just as a surfer has the skill to stand up on his board. All that is required is practice and patience.
2. Getting inside a tunnel when you can’t see the sun is a good thing.
A “barrel”, as it is known in surfing parlance, is the tube shape a wave makes when it falls around a surfer. This is also what happens to entrepreneurs who they reach a certain point in their business. It’s when there’s a great sense of excitement about the business potential, yet the workload is becomes overwhelming. Here, you only have two options: put the brakes on and risk being sucked back into a ‘wipeout’ or making the choice to power forward, pulling out of the barrel and into the sunlight.
3. Surfers have to work with the waves that roll in
If a surfer doesn’t like the wave conditions, they have the option to move on to another surf location or work with what they have. Similarly, entrepreneurs have to work with the conditions they are given, and to make the most of them. So for entrepreneurs, this may mean having to forgo their morning coffee or post-work drinks until the business is generating enough revenue.
4. To catch waves, first you have to paddle through them
Just as surfers have to paddle out into the waves, so do entrepreneurs in order to reap the rewards. For entrepreneurs, the rewards are money and a sense of achievement; for surfers it’s the rush of adrenaline when they take the bottom turn (the first part of the wave). It’s when a surfer knows he can either burn out or continue on this wave and onto great success.
5. You can lead someone to water but you can make them surf
While talking to an older friend at the beach, I mentioned that I was a surfer. He then told me that he had always wanted to learn to surf. That was four years ago. Today, nothing has changed.
This is true for many aspiring entrepreneurs. Many people believe that they have the perfect business idea – one that will make millions of dollars. Yet their idea never becomes a reality because they continually try to ‘perfect’ their idea, waiting for the right time but never managing to take the first step: putting their idea into practice.
6. There is always another wave
No matter how successful or problematic the last wave or business idea was, like surfers, entrepreneurs know that they can always paddle back out.
It is inevitable that an entrepreneur will experience setbacks, debt and especially those times when everyone around them tries to convince them that their business is doomed. However, like surfers, entrepreneurs will find the drive to push on through these obstacles onto the next best thing. These experiences will become part of their learning process; knowledge to be shared with aspiring entrepreneurs trying to reach the elite ranks of success.
6.5 After all is said and done…
And finally, after catching your wave of the day, you can go home, rest and prepare for the next day on the turbulent seas.
FEEDBACK
We hope you enjoyed our second Newsletter. As we'll be working on finding the optimal format, you might see some changes in upcoming newsletters. Please feel free to send any contributions and/or ideas through to us.
To share your thoughts, just click on this link or the one at the bottom of the issue.
‘This is an Australian Government Funded initiative under the Building Entrepreneurship in Small Business Program’
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