Interesting news for Kiwi entrepreneurs and angel investors alike: a) it shows that good IP with appropriate patent protection can be be worth millions to a business. b) it shows that Kiwi entrepreneurs can build a successful business straight in China go below the radar of many Kiwi investors.
At FKA we have seen our first return from StretchSense, an IP-rich company and defensible IP is an import factor in our selection of portfolio companies. With our free ADI.Clinic advices session across New Zealand we engage early with budding and seasoned entrepreneurs on their path towards building a sustainable business. In this way we hope to be able to help the future Mat Mowbrays on their journey.
Patents are the last great legitimate monopoly. They give the holder twenty years of exclusivity in the market, to exclude others from making, using or selling the patented item and thus allowing a successful patent to help a company reap the rewards of inventive genius. Unfortunately there is a deeper reality to patent ownership. While the patent is presumed valid when it is granted, this does not stop competitors from entering the marketplace with a copy-cat infringing product. Generally the more commercially successful the product, the more likely another company will swoop in and make a market play, risking an infringement lawsuit in an effort to reap commercial rewards. These competitors hope that either the original patent owner will not have the funds or ability to pursue a lawsuit, or that the owner will be forced, due to the cost and time involved in patent cases, to settle for minimal compensation. This is where enforcement of a patent rights becomes a very important strategic decision. (Dunlap Bennett & Ludwig)
Mat Mowbray, Founder & Chief Executive Officer
Mat with his envisioning force and innate entrepreneurialism is the driving force behind ZURU. He has directed and inspired the company from creating ZURU’s first toy to building the multinational organisation that it is today. Mat is based out of ZURU’s Guangzhou, China Headquarters and with the executive management team he guides the strategic development of the organisation. Mat additionally pioneers the direction for both ongoing and upcoming projects, focusing closely on new development with the design and engineering teams. Born and raised in Cambridge, New Zealand, Mat’s foundation is his internal desire to build upon the world of toys through new, unique and novel concepts. Eight years ago, after studying mechanical engineering and automation at Massey University in New Zealand for just one year, Mat decided that it was never to early to get the ball rolling and moved his entire purpose to China to found ZURU. Mat is self-motivated, pioneering, a leader and incredibly passionate. He has innovation and the future development of ZURU on his mind always. Mat would be a Spinnaz from our Crazies Brand if he were a ZURU toy as his head is always “spinning with new ideas”. |
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