Madam, – Our country needs a pick-me-up, and fast. My suggestion is as follows. A venture capital fund, VCF, should be established which would be dedicated to investment in Ireland. One of the most frequent complaints from the business section is that it is starved of capital, whether for start-up or to expand. This is exactly what VCFs are for, the catch being that there should be the promise of profit to the investors. Nothing wrong with that.
The VCF could be financed by our multimillionaire expatriates and their stay-at-home equivalent. They could be backed up by our multimillionaire entertainers, media people and sports stars. The important thing would be to raise a fund which would be substantial enough to make a difference, one capable of making the rest of us believe again.
This is not a begging bowl approach. VCFs are noted for their rigorous analysis of potential investments before committing clients’ money. This act of patriotic self-interest could bring both economic benefit and renewed hope to our most distressful country. – Yours, etc,