Here’s hoping that a damn good idea isn’t forced offshore
By Peter Kerr for sticK
(sticK - Nov. 16 2010 )
It’s the stuff of dreams, but hard work and commitment’s got the Martin Jetpack to a stage where it could be commercialised. Whether that’s in New Zealand remains to be seen as the Martin Aircraft Company looks to raise $10 million to further test and verify the strap-on vehicle that enables an individual to hover and fly.
The Jetpack has just been named as one of Time magazine’s 50 most important inventions for 2010.
The company is investigating an NZ sharemarket listing via an initial public offer, but if it can’t attract ma and pa as well as institutional investors, it will have no option but to seek overseas funding. “That will come with conditions,” says chief executive Richard Lauder; often that it is built in the country the money comes from.
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