Mitt Romney appeals to the sort of investors and people who run high-tech, venture capital-backed businesses.
Select high-tech companies and venture capitalists can count on new subsidies and tax breaks.
No wonder, too, that high-tech companies and venture capitalists are fighting the FASB tooth and nail.
Happily, the governments of Hong Kong, Malaysia and Singapore are learning the lesson, and all three now direct the biggest funds for high-tech entrepreneurs through venture capitalists.
Dius is also considering proposals to create two funds to encourage venture capitalists to invest in small high-tech companies by matching their investment with public funding.
They are to operate like the venture capital companies that have financed the global high-tech industry.
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There are local funds aimed at high-tech companies, and 3i, Britain's best-known venture-capital firm, has its biggest office outside London in Cambridge.
Alan Hald, another Tempe-based entrepreneur and co-chairman of the Arizona Partnership for the New Economy, points out that Phoenix lacks the venture capital that brings the whirr to other high-tech hubs, such as Austin, Los Angeles and New York.
The recession has exacerbated a long-term trend, says Mr Gill, who thinks many venture-capital investors have been put off the high-tech sector by a combination of uncertain returns and memories of the dotcom bust at the turn of the century.
Israel has attracted considerable venture capital during the last decade, helping to make it a high-tech success story.
Venture capitalists, those veteran investors hired precisely because they could divine the high-tech future, didn't know either--that's why they are all already bobbing and weaving over the health of their rapidly maturing funds.
John Thornton of Austin Ventures, a local venture-capital firm, says his company financed as many Austin-based high-tech companies in 1996 as in the previous five years taken together.
Ellison is quick to tell you he never had to take a dime of venture capital, the result of which is that today he is one of high-tech's billionaires.
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