It’s difficult to know why DOIR held the Leading Lights Conference. It was certainly good to see a bunch of innovative companies get awards today, and it was great to do some networking with other innovators and venture capitalists. But I came away with a few pessimistic messages.
Sure, almost everyone had to mention the “current economic climate” (should we start playing word bingo), but I think that’s just a great opportunity for those that are willing to work harder and smarter.
But unfortunately the focus seemed to be on raising money via venture capital, and their message was clear: don’t come and see us unless you’re based a car ride away, and you’re cash flow positive.
Fair enough, they want to minimise their risk.
But here is the thing: there are other ways to raise money other than venture funding. I think the organisers must have forgotten this. Because if we take the conferences advice at face-value, then really, unless you’re in the earth resource sector, you may as well move elsewhere, and surely that’s not the message the Western Australian Government wants to impart. Or is it?
