[19 October/National Business Review]

An attractive offer from French based investors and a matching grant from the French government was too good for the founders of promising start up Green Spot Technologies to turn down and will see the company relocate to Toulouse as part of the deal.  The company founded in 2016 by University of Auckland Associate Professor, Silas Villas-Boas, and doctoral student, Ninna Granucci, has received an investment from French based angel investors and will also receive R&D incentives, access to fermentation technologies and funding for the recruitment of newly graduated PhD students.  The company has technology which creates flours from fruit and vegetable pulp by products.  The company tried but failed to find investment in New Zealand and any offers that were made came with expectations that the founders would step back from day-to-day management of the business.