International Business Wales and Technium UK today announced that New Zealand technology company Xero, Rod Drury’s web-based accounting company, is the winner of the International Technium Challenge.
The International Technium Challenge is a worldwide business planning competition to identify and support innovative businesses with growth potential. The annual global competition is organised by International Business Wales (IBW) and Technium UK, and will give Xero a UK business passport to open an office in Wales.
In addition to office space in a Technium business innovation and incubation centre in Wales, Xero will also receive a business support package worth over $120,000 in legal, marketing and business advice, capital raising, personnel/manufacture sourcing and ongoing guidance, say the organisations.
Xero beat 19 international company entries including finalists from China and South Africa. Xero, Fudan GrandHorizon (China), and I-Slices Innovations (South Africa) presented their business cases to the Technium UK judging panel.
International Business Wales vice president for New Zealand Rhodri Jones reiterated that Xero is a great example of a Kiwi company taking up the challenge of the global economy.
“Xero is a great example of a company leveraging a superb new business software model firmly anchored in New Zealand but looking to access and scale itself in global markets as a key to success – that is exactly the sort of company that IBW can assist in the UK market,” says Jones.
Rod Drury, CEO of Xero, says the company is thrilled to have won the programme.
“We look forward to taking full advantage of the support provided by the Technium UK business passport programme to take Xero global,” he says.
In 2006 Rod Drury was named as New Zealand’s PWC Entrepreneur of the Year.