Biz whiz-kids' kickstart

With baby-boomer business owners set to retire en masse in the next decade, thus seriously depleting business ranks, plenty of attention is now being focused on nurturing the latest generation of entrepreneurs.

Both government and the private sector have been offering funding and award programs to encourage fresh talent and the indications are that the peninsula is a fertile ground for budding young entrepreneurs.

Portfolio has spoken to three likely local contenders for the incentive program, the State Government’s Bizstar Pitching Competition, for which applications close on August 1. It revealed a generation not lacking faith or confidence in its business abilities.

It was the craze for a South American berry reputedly full of health benefits that lured three former school mates, Jeremy Liddle, Andrew Cameron and Andrew Maciver, all 24, to set up their company RioLife late last year.

Two of them had learned about the craze for the berry acai, the fruit of an Amozonian palm, during separate travels to Rio de Janeiro and California. When they came back the three mates were so impressed by its popularity they decided to join forces and try to replicate its success in Australia. They now hope to turn RioLife into Australia’s best-known supplier of the super berry, which is supplied in frozen pulp and then used in drinks and a special cereal and fruit mix.

Jeremy Liddle says the decision to go into business was a little daunting for him since it meant giving up a promising job as manager of a chain of juice bars in Singapore.

“People tried to talk me out of it because it was such an amazing opportunity over there, but I was convinced this was a better opportunity,” he said.

“I always had complete faith in the product because it has been so successful in California which is a very similar market to Sydney. Over there it’s bigger than wheat grass.”

The RioLife team set up an alliance with one of the major importers of Acai to supply the berry pulp to Sydney’s café and juice-bar market, as well as special events and independent grocery stores. Since then they have moved quickly, setting up their own distributors in Perth, Byron Bay and Brisbane under their RioLife brand and will progressively take it national.

Published: 07/09/2006
Source: The Manly Daily (Portfolio)

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