powerHouse develops young entrepreneurial talent at its annual Summer Programme technology and business internships. This is held at the powerHouse incubator based near the University of Canterbury.
Students and graduates from around the country spent the 2011/12 summer advancing research-based IP from University of Canterbury, Lincoln University and Crown Research Institutes through a pipeline from research to fully-fledged companies.
This total immersion environment of innovation and commercialisation provides mentoring for the students and empowers them to talk with global commercial customers, identify the customers’ needs, and match those needs with the IP that powerHouse has on its books. powerHouse uses this market feedback to shape the ventures for success in international markets. The students have built on powerHouse’s strong ties with industry and created international opportunities for the ventures, along with meaningful jobs for themselves.
By creating ‘schools of experience’ like the Summer Programme, powerHouse can transform students into the next generation of chief executives and senior managers which these spin-out companies will need as they grow.
The 2011/12 Summer Programme at a glance:
• New powerHouse incubator opened November 2011
• 16 students from three universities joined the internship programme over summer
• They worked on 16 IP projects, four spin-outs, two industry companies and two start-ups
• Seven new jobs were created
• One new spin out/investment opportunity was identified
Find out more about the students’ experiences here.