It might seem odd that Callaghan Innovation would want to embrace failure. Surely we would want the businesses we support to succeed? The answer is that we certainly do, but innovation is inherently risky, and some failure is an inevitable by-product of that risk.
The trick is not so much to avoid failure, as to harness it. Nearly all of the world’s leading entrepreneurs have overseen failed projects, but by understanding the failure and applying the lessons from it, they were able to make a success of their subsequent ventures. Vibrant economies also seem to have an environment that supports entrepreneurship and is tolerant of risk and failure.
Last year, with Idealog's help, we commissioned interviews with a number of successful New Zealand entrepreneurs to learn about their setbacks, how they felt and what they learnt. We then began a public conversation about attitudes to failure in New Zealand.
This issue of Accelerate distils some of our findings, and shares some of the best failure stories we uncovered. We hope these will inspire you to in turn embrace the concept that 'failure is an option'.
In this edition: