Upstart takes on three new businesses

2 August 2005

Maths Technology, Point Wizard and Exelite have signed up with Upstart, Dunedin's business incubator.

The three companies joined six other Dunedin technology-based businesses already in incubation.

"These companies have fantastic concepts, and with incubation giving them a leg up into international markets and extending their product base, they're on the road to becoming high growth businesses quickly," says Upstart CEO Norman Evans .

Maths Technology was founded in July 1999 by Gill Thomas. Its core product is an internet based tuition process which is used by teachers to improve the quality of their Maths teaching. It is the only on-line training tool to have been validated in its area of teacher development, which gives it a huge advantage in the market, says Dr Evans.

Exelite, founded in August 2004, uses technology from aircraft emergency lighting for other industrial and consumer uses.

And Point Wizard, launched in 2003 by Paul Hansen from Otago University and Franz Ombler, is a world class software for ranking alternatives according to the user's preferences. Common applications include: diagnosing or prioritizing patients for treatment; short-listing job applicants or immigrants; selecting students for scholarships; ranking investment proposals or funding applications; environmental assessing and strategic planning.

"All of these businesses have great potential for growth - they're exactly the kind of businesses Upstart is looking to incubate as it contributes to the growth of Dunedin 's economy," says Dr Evans.

"Upstart gives a leg-up to companies who want help to grow fast and generate revenues in the millions. They may be one-person start-up companies, or successful small businesses, but each Upstart client is on a mission to rapidly increase their company's value, without greatly increasing their risk. Our mission is to help their growth dreams become real."

For more media information contact:
Norman Evans (CEO)
Upstart Business Incubator
Upstart House
Level 1
333 Princes Street
PO Box 1310
Dunedin
New Zealand
Ph: 03 471 9974
Fax: 03 471 9975
Cell: 0274 877 827
email: info@upstart.org.co.nz