Convergence Sponsors UCLA MBA Field Study Programme

Convergence Sponsors UCLA MBA Field Study Programme

July, 2004 - Los Angeles: Convergence Limited is sponsoring a business development project being conducted by a team of fully-employed MBA students at UCLA Anderson School of Management in Los Angeles, California, USA.  The team comprises of students, who each work in senior roles in organisations such as The Boeing Company, SBC Communications, Microsoft Corporation, Reish-Luftman Law Firm and Mitsubishi Corporation.

The primary deliverable of the project will be a comprehensive 'investment ready' business plan with a clear focus on Convergence's overseas expansion, particularly with regards to the significant US market.

CEO of Convergence Mark Presnell says “We expect significant benefits from this project. The calibre of people involved in our team is fantastic and the direct access to top notch Faculty members and professors at UCLA is invaluable. By the end of this year our team will have developed a fully researched business plan for us. The students are effectively completing an experiential masters-level thesis. And this allows them to apply their knowledge of entrepreneurship, high-technology and management in a strategic, international and real world context”.

Both the Auckland and the Los Angeles branches of New Zealand Trade and Enterprise were responsible for facilitating the introduction between UCLA Anderson School of Management and Convergence.

Economic Development Agencies, such as NZTE, work with UCLA Anderson School of Management to source successful high technology small businesses that are looking to grow their exports into the US aggressively. After an extensive evaluation process, a handful of companies are approached to work with UCLA students.

Prior to engaging in the sponsorship, Convergence discussed the benefits of the sponsorship with other New Zealand based technology companies who participated in the program within the last 2 years. “We received really positive feedback from companies, who had done it." explains Mark Presnell. “Companies reported that the program armed them with the information they needed to be successful in the US – this included corporate value statements, market need analysis, competitive product positioning, venture capital acquisition options, channel partner selection and so on.”

The Convergence sponsored project is due to be completed at the end of this year, with plans for Convergence to enter the US market within 2005.

UCLA Team Members visiting Convergence Head Offices in Auckland,
New Zealand. Left to right: Mark Presnell, Joshua Matthews, Traci
Mortimer, Jim Adams