Aardvark Daily

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Is opportunity is knocking for NZ?

7 October 2008

It's pretty much official now. The world is entering a period of economic recession, perhaps even a depression.

Our skilled expat workers are flocking home to the comfort of their birth-land, the Kiwi dollar is tumbling, and tax cuts are already starting to kick in -- with more promised.

What does this mean?

Well, if you're a pessimist you'll probably say that we're in for tight times, high unemployment, tumbling personal wealth and unhappiness.

But surely there are a few optimists out there who can see this downturn as an opportunity just ripe for the picking?

Many a fortune has been made in hard times, they say.

And perhaps this is NZ's chance, as a nation, to exert the strength of its clever, hard-working and innovative peoples.

If we have a wave of skilled expats returning to our shores, why not take advantage of that pool of talent?

If people are going to stop spending money on fluff like boats, new cars, big-screen TV sets, etc -- why not give them something a little more exciting and potentially lucrative to invest their tax-cuts in?

In short, isn't it time we convinced Kiwis to invest in this country's best and brightest?

What's needed is an initiative to stimulate the investment of Kiwis in the kind of startups that have the potential to see us leaping out of the blocks before any of our peers when the gloom of recession starts to lift.

What better time to be developing our "next big thing" products and ideas than while the rest of the world is sitting around feeling sorry for itself?

I wonder if it would be possible to stimulate everyone's sense of national pride and patriotism to the extent that we convince a goodly number of people to invest just a dollar a week in a national "innovation fund".

Who would miss just a dollar a week?

And, if even 500,000 Kiwis could be convinced that this is a good idea, that'd be a cool 26 million a year to invest in startups that have the potential to help kick-start our knowledge-based economy.

Now if this were a fund being administered by government I'd say $26m a year would be a paltry amount that might be almost entirely consumed by the bureaucratic overheads -- but what if it were a small, lean, lightweight fund that was devoid of such massive overheads?

How about a small committee of altruistic types who were experts in their fields and able to make quick, effective decisions as to who got funding and who didn't?

And what if that funding were delivered as an interest-free loan or equity stake rather than a grant? I have never understood why the government *GIVES* taxpayer's money to those who jump through the right hoops and lick the right boots. For goodness sake, if that money creates a successful business, why on earth can't they pay it back?

Would now be exactly the right time to convince Kiwis that we ought to be getting right in behind our best and brightest with a dollar a week so that NZ can develop a strong, hi-tech economy that will help insulate us from future financial shocks such as the one we're seeing now?

There's no better time to sell someone insurance than when they feel the effects of not having any.

Can you see a private "innovation fund" that is created by "dollar a week" contributions being a starter?

Right now you might be thinking -- but what can we invent, improve, come-up with?

Well just look at all the cool stuff here!

I mean, the free energy section alone has the chance to deliver some revolutionary devices that could free us from the tyranny of oil dependence.

Okay, so I *am* kidding about the stuff on that website, but I'm dead-serious about the prospects of an innovation fund supported by the people of NZ and focused on kick-starting good ideas.

Am I dreaming?

Would you invest a dollar a week with no guarantee of return in order to improve our odds of developing some great new hi-tech industries?

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