The winning idea to come out of this year's Dragon's Den-style competition at the Waikato School of Management is still under wraps with a patent being sought for the device.
Winning team Nova5 presented a labour-saving device for use in the power industry, which it promoted as having the potential to provide considerable savings to lines companies.
The competition marks the final paper in a post-graduate diploma.
The final round saw three teams of students present their proposals for a new profitable business venture to a panel of guest judges.
The ''dragons'' were Waikato DHB chair Graeme Milne, Lisa's Hummus founder Lisa Er, executive director of Enterprise Angels Tauranga Bill Murphy, Adrienne von Tunzelmann of McKinlay Douglas, Tainui Group Holdings chief executive Mike Pohio and general manager of Healthcare NZ Scott Arrol assessed the pitches and provided feedback.
Runner up Untapped Energy presented an idea for selling micro-hydro generators to the local government sector and took runner up honours.
The turbines, which are being designed and developed by Allied Industrial Engineering, use the gravitational flow of water from reservoirs to the treatment plants to generate power which can be sold back to the grid.
The current flow is so powerful that councils use special valves to slow the water down before it reaches the plant.
Third place getters Trade Electrical Supplies pitched to import low-cost PVC conduit piping for the electrical industry and selling under a common New Zealand wholesale brand name
- © Fairfax NZ News