Just as Punakaiki Fund was closing well short of the $5 million minimum, I gave a speech to close out the IITP annual conference. I was asked to talk about innovation and to be inspiring as the conference ended. This is the slide deck from that speech. A video of the speech is also available. http://vimeo.com/78002783

1. Innovation
and
Failure
Lance Wiggs
Punakaiki Fund
IITP Conference, 25 October, 2013

2. What is innovation?

3. Systematic innovation consists in
the purposeful & organised search
for changes and systematic
analysis of opportunities such
changes offer for economic or
social innovation.

4. 𝟕 Sources of Opportunity
e Unexpected
e Incongruity
Process Need
Industry Structure
Demographics
Perception, Meaning
New Knowledge

5. e Prize

9. e great challenge
120 companies
120 inspired entrepreneurs
An additional $40 billion/annum in
exports (double our present exports)

10. Why would such
businesses want to stay
in New Zealand?

11. “A place where great talent wants to live”

12. $40 billion

13. $40 billion
$140 billion
$58 billion
GDP
Core Crown tax
revenue, FY 2013
$12.5 billion
$14.5 billion
Education spend
(2013)
Health spend (2013)

16. e World

17. e Country

18. End Users & Customers

19. Suppliers

20. Government

21. Staff

22. Investors

23. You

24. e Path

27. INVESTORS
Have funds
Seek returns
COMPANIES
Create
products
Seek paying
customers
CUSTOMERS
Have money
Seek value for
end users
END USERS
Have unmet
needs
Seek delight

28. TECHNOLOGY
INVESTORS
Have funds
Seek returns
COMPANIES
Create
products
Seek paying
customers
CUSTOMERS
Have money
Seek value for
end users
END USERS
Have unmet
needs
Seek delight

33. © 2012 Emirates Team New Zealand

34. Learn
Grow
Expand
Return

35. “Startups exist not to
make stuff, make money,
or serve customers.
ey exist to learn how
to build a sustainable
business.”
Eric Ries,
eLeanStartup.com

36. Question: When will we see in the annual
report, bo om line: profitability?

38. Do the basics

39. Us

40. Do I have any power?

41. Lusakatimes.com
lusakatimes.com

42. Is there a path ahead?

45. Memo to the Boss of Bosses
We need to change, and here is why, and what I suggest:
1.
e team is under-delivering versus goals
2. We have no goals to begin with
3. And the team itself is demotivated
And I suggest:
1. We set goals for the team
2. We begin monthly/weekly reviews
3. We appoint a team leader. Me

48. Grow

50. Dear Boss of Bosses,
Goodbye.

52. Systematic innovation consists in
the purposeful & organised search
for changes and systematic
analysis of opportunities such
changes offer for economic or
social innovation.

53. e World

54. e Country

55. End Users & Customers

56. Suppliers

57. Government

58. Staff

59. Investors

60. You