Indian Newslink March 1 2018 Digital Edition

MARCH 1, 2018
16 Businesslink
ANZ to remove
$1 ATM fee
ATM Image Courtesy: University of Canterbury
The decision of ANZ accessing their own
Bank to remove money. The fee kicks
the $1 fee that it in when a consumer
charges customers for uses a competing
using another bank’s bank’s ATM.
ATM follows a call ANZ estimates it
from Consumer New does eight million
Zealand to all banks such transactions
to remove these annually.
charges.
The Bank has announced
that it would
Last year, Consumer
New Zealand remove the fee from
called on ANZ, ASB, March 26, 2018.
BNZ, Kiwibank, The It is also reducing
Cooperative Bank and or simplifying other
Westpac to remove fees and charges this
the fees.
year.
ANZ chief executive Consumer New
David Hisco decided Zealand Chief Executive
Sue Chetwin
to investigate the
matter.
said this was a great
The Bank found outcome following
that people regarded the concerns it raised.
the fee as unfair ANZ is the biggest
because even though bank in New Zealand.
they were using
She hoped the other
another bank’s ATM, banks would follow
they were still its lead.
University of Auckland launches new Hub
For Innovation & Entrepreneurship students
The University of
Auckland is launching
today ‘Unleash Space,’
an Innovation and
Entrepreneurship hub to grow
ideas into ventures.
The student-led hub is
managed by the University’s
Centre for Innovation and
Entrepreneurship, based at the
Business School.
It will support students
through all stages of the innovation
and entrepreneurship
life cycle, from idea generation
and prototyping to product
commercialisation.
No boundaries for ideas
Centre Director Wendy Kerr
said that the space is unique
internationally, comprising a
state-of-the-art maker-space as
well as areas for workshops,
collaboration and other
support.
“Students can design and create
anything they can imagine.
If they choose to, they can use
their prototype to see if they
could start a business with their
idea. We have wrap-around
support and leading-edge
equipment, and we also have
experiential programmes and
events that can help them
grow their idea to a successful
venture,” she said.
Funding Sponsorship
The University raised $9.6
million in sponsorship to
establish the space.
The founding donors are
Sir Owen G Glenn, Beca,
Chau Hoi Shuen Foundation,
Hynds Foundation, Li Ka-Shing
(Canada) Foundation and
PricewaterhouseCoopers.
Recognised Leader
The University of Auckland is
recognised as a world leader in
fostering entrepreneurship.
In 2014, a global study by
Massachusetts Institute of
Technology (MIT) identified the
University as one of the top five
emerging leaders in innovation
internationally.
The new Hub reflects its
commitment to developing
business-savvy, entrepreneurially-minded
graduates to ensure
New Zealand’s longer-term
economic prosperity.
The Hub is located in the former
Engineering School library
at the heart of the University’s
central Auckland campus and is
open to students and staff from
any faculty and any discipline.
Membership Drive
Ahead of the official launch,
nearly 600 students have signed
up as members and been trained
on the maker-space equipment,
which includes 3D printers, laser
cutters, electronics equipment,
sewing machines and other tools.
Dean of Business Professor
Jayne Godfrey said the Unleash
Space will help prepare current
students for the future world of
work.
“As the future of work is changing
rapidly, we need to equip our
students for this new world. This
is the place students can safely
experience failure and learn from
each other. This space is unique
in the University as it brings
people together from diverse
backgrounds and academic disciplines.
They will learn together
and from each other. Innovative
ideas need entrepreneurial spirit
to take them to fruition and put
them into practice,” she said.
Dean of Engineering Professor
Nic Smith said that the idea grew
from similar spaces overseas and
a conversation with his former
counterpart at the University’s
Business School.
Supporting needs
“The name of this space is
emblematic of the transition
and support students need – that
sense of unleashing the creativity
they already have. When I was
a student, making anything
was very expensive and took
enormous amounts of time.
That can really affect people’s
capacity to take risks, learn from
mistakes and to do things that are
genuinely outside the box. In the
Unleash Space, staff and students
are free to do all kinds of things,”
he said.
Local businesses will be involved
in the Hub’s programmes
and events to ensure they are
pragmatic and impactful.
The Hub has already hosted a
corporate innovation challenge
where 120 students solved
gnarly problems posed by local
corporates, and ‘Summer Lab,’
an ideas accelerator for budding
entrepreneurs.
In the coming year, the Centre
for Innovation and Entrepreneurship
will offer more than 150
workshops, seminars and events
to more than 2000 students at the
Unleash Space.
These are designed to build
innovative and entrepreneurial
mindsets and capabilities enabling
graduates to thrive in their
careers, whether they choose to
work in a large corporate, join
a start-up or begin their own
business.