Allowing overseas money to pour in and fill the gap left by a dearth of New Zealand investors is robbing us of employment opportunities and valuable tax revenue, Bill O’Boyle writes.
Anyone who’s spent time around the Kiwi startup scene knows that one of the biggest challenges facing our fledgling businesses is the dreaded ‘funding gap’, sometimes cheerfully referred to as ‘the valley of death’.
The scenario is this: New Zealand now has a strong ecosystem of angel investors and government grants that support promising entrepreneurs, but we are falling over at the next significant hurdle. Startups are risky by nature, and when the best (or luckiest) of these businesses survive and need further funding to become world-beating companies they face a dearth of specialised later stage investors willing to take them to the next level.
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