Big-business lobbies can’t secure protections against global competition in the emerging tech sector. — AFP/File
With the tech ecosystem getting more mature around the world, one of its underlying features has been the way big businesses have embraced and promoted this growth.
Be it the eye-watering acquisitions of WhatsApp or Instagram by Facebook or Bain Consulting launching venture funds worth billions of dollars, large corporates have actively driven its rise.
According to Pitchbook data, corporate investors participated in 26 per cent of the total venture capital deals in the United States — and those rounds accounted for more than half of the dollar value.