Australia has been considered
an unusual location for venture capital to date--the field is
just opening up for angel investing and early-stage venture capital.
research institutes, and companies have an excellent record of
developing trained scientists and engineers and now need to
grow an entrepreneurial "talent pool" of business
managers. These individuals are creating new technologies that
can result in new business opportunities throughout Australia.
However, Australia has yet to
achieve the "critical mass" that is obviously
present in areas like Silicon Valley, Boston's Route 128, and
more recently, Israel.
One missing element is the
local availability of early-stage venture investment.
Traditionally, Australian venture capital firms have sometimes
missed opportunities since their roots have been in
"development capital" and not always had a focus and
investment style that is appropriate to early-phase startups.
Prometheus fills that need and
can help build companies that can capitalize on the waves of
change sweeping through global industries.