Government is brushing off concerns that providing tech start-ups access to overseas markets will trigger a brain drain, arguing that global exposure will ultimately benefit the domestic economy through remittances and diaspora investment.
Addressing worries that international opportunities might encourage young entrepreneurs to relocate permanently, Deputy Prime Minister and Minister for Commerce and Business Development Manoa Kamikamica said local innovators remained tied to their roots regardless of where they operated.
He said a significant portion of present investments in Fiji originated from our citizens living abroad.
“The world is a global place now, so even if some of our tech innovators go offshore, they’ll still have Fijian blood in them,” Mr Kamikamica said.
“So, even if they’re offshore, what it means is they will be sending remittances back to their family.”
Central to this economic strategy is the newly launched Reserve Bank Innovation Hub, designed to foster local talent and diversify the economy into the ICT sector.
Mr Kamikamica drew comparisons to international successes like New Zealand’s accounting software giant Xero, which began as a start-up and evolved into a multi-billion-dollar global company.
“Just imagine one or two young men or women in Fiji owning a billion-dollar technological solution.
“It’s only a matter of time when Fiji will have its own Elon Musk or its own sort of Google founder as well.”
Mr Kamikamica said Government ministries were actively collaborating to help those young innovators scale up their operations.
Officials believe that while physical location may change, the financial and intellectual returns will continue flowing back to Fiji.
