Australia has been considered an unusual location for venture capital to date--the field is just opening up for angel investing and early-stage venture capital. 

Australian universities, research institutes, and companies have an excellent record of developing trained scientists and engineers and now need to grow an entrepreneurial "talent pool" of business managers. These individuals are creating new technologies that can result in new business opportunities throughout Australia.

However, Australia has yet to achieve the "critical mass" that is obviously present in areas like Silicon Valley, Boston's Route 128, and more recently, Israel.

One missing element is the local availability of early-stage venture investment. Traditionally, Australian venture capital firms have sometimes missed opportunities since their roots have been in "development capital" and not always had a focus and investment style that is appropriate to early-phase startups.

Prometheus fills that need and can help build companies that can capitalize on the waves of change sweeping through global industries.