The “observation program” mentioned here, was a $1.2 billion program that was announced in the last days of the previous government.
There were no contracts, no tenders, just a vague proposal with a nebulous tax funded dollar figure attached.
The sector as a whole was using that announcement to entice investors in their own startups.
Now that it has been axed, the startups are struggling to gather further financing in what looks like a shaky industry.
There’s some nuance missed here.
The “observation program” mentioned here, was a $1.2 billion program that was announced in the last days of the previous government.
There were no contracts, no tenders, just a vague proposal with a nebulous tax funded dollar figure attached.
The sector as a whole was using that announcement to entice investors in their own startups.
Now that it has been axed, the startups are struggling to gather further financing in what looks like a shaky industry.