Business idea for magnetic bobby pin a winner

massey-university

Thu Oct 15 2009 13:00:00 GMT+1300 (New Zealand Daylight Time)

Business idea for magnetic bobby pin a winner

Thursday, 15 October 2009, 9:05 am
Press Release: Massey University

Wednesday, October 14, 2009

Business idea for magnetic bobby pin holder a winner

A hair clip holder was last night named the winning business idea in the Young Enterprise Scheme regional finals held at the University’s Manawatu campus this afternoon.

Jamie Pierce, Guido von Mulert, Michael Adam and Ashleigh Ward from Freyberg High School came up with the idea of an attractive magnet that adheres to mirrors to hold bobby pins, making the clip easily accessible when doing your hair.

Eighty-five pupils from seven schools in Manawatu, Wairarapa, Horowhenua and Kapiti took part in the regional Young Enterprise Scheme competition, which is run by the Young Enterprise Trust. It sees senior pupils come up with an idea, form a company, become directors and develop products and services that they then market and sell. The winning team called their company Lavish.

“It’s a great initiative that teaches skills in budgeting, planning, interpersonal relations, decision making, reporting, communication, risk management and teamwork,” says the scheme's Manawatu co-ordinator Mike Clark. “Some of the ideas they come up with and the success they make of their businesses is amazing. It shows there are plenty of entrepreneurial minds out there.”

Second place in the regional finals went to a Palmerston North Girls' High School team. Their company, called Checkmate, was a not-for-profit organisation that developed a support network to try to reduce the teen suicide rate.

Third place went to a Palmerston North Boys' High School team, which came up with the idea of Cool Coolers, an ice pack that can be used to treat injuries or chill drink bottles so they remain cool throughout the day at school. The ice pack has been trialled by the Manawatu rugby team, the Turbos.

Members of the winning team each received a scholarship, worth up to $2000, to study business at the University, and will compete in the national finals in Wellington on November 4. Lavish will be one of more than 20 teams from across the country to give a presentation to the panel of judges to try and convince them to invest in their business.
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