29 May 2007

The New Zealand government is hoping New Zealand will be a winner at the America’s Cup this year – if not on the water, then in the business arena.

As the eyes of the world are focused on Valencia in Spain for this year’s international yachting event, New Zealand is making the most of the opportunity to build its profile as a destination for trade, investment and tourism, with a series of programmes promoting New Zealand companies and opportunities.

The America’s Cup Investment Event, held in Valencia, targeted potential and existing investors, says Investment New Zealand ICT Investment Manager Maximilian Spiess. “We did a great job in bringing together very high-level representatives from international venture capital firms and multinationals, as well as serial entrepreneurs and angel investors.”

The programme included a presentation by the chief designer of Emirates Team New Zealand (ETNZ) about the team’s innovation in preparing for the America’s Cup, followed by a panel discussion on investment in New Zealand and New Zealand companies, and a networking session. Participants included New Zealand entrepreneur Peter Maire, John O’Donohue, head of Motorola Ventures Europe, and Robert Sansom, co-founder of Cambridge Angels. The guests were all highly enthusiastic about the event and really interested in working with New Zealand companies, says Spiess.

Doug Richard, serial entrepreneur and Dragon on the BBC television series Dragons’ Den, says the event was very well managed. “I had a wonderful time and Investment New Zealand accomplished its goal of bringing to my attention the opportunities in New Zealand.”

Robert Genieser, Managing Director of Vertex Ventures, also says the event was a great opportunity. “The format of having everybody on a boat for an extended period worked very well, as it was a once-in-a-lifetime opportunity to see the Cup races. I also enjoyed the presentation on Invest New Zealand and would have been happy to debate for a longer time the merits of the case. I am a big believer in New Zealand and look forward to being involved even more in the years ahead.”

Investment New Zealand, New Zealand Trade and Enterprise and Tourism New Zealand have worked with ETNZ to create a hospitality centre at the team’s base, where Kiwi companies and industry sectors can host influential business contacts from Europe and the Middle East.

The programme of promotions is bringing an eclectic range of leading New Zealand companies, in fields such as biotechnology, wine, information technology and marine, to meet influential leaders in these fields during the regattas. More than 40 New Zealand companies are taking part and at least 400 people are expected to attend the various events and hosting days.

Prime Minister Helen Clark visited the site last month and said the presence in Valencia was a great way to build on New Zealand’s record in the America’s Cup, “raising not only our sporting profile but our overall national brand as well”.

The New Zealand government has supported the ETNZ campaign with more than $30 million of investment, recognising the unique marketing opportunity the event offers.

New Zealand Trade and Enterprise is a major sponsor of the New Zealand Millennium Cup, which takes place on the final day of the Superyacht Cup at Palma de Mallorca in June. This is the first time the Millennium Cup has been held outside New Zealand waters.

The Louis Vuitton Cup final starts on 1 June and the America’s Cup match will begin on 23 June.

For more information, please contact:

maximilian.spiess@investmentnz.govt.nz

+44 207 839 8870