Nanogirl meltdown: science start-up sinks after losing government funding

Summarised by Centrist

Nanogirl Labs, the STEM (Science, Tech, Engineering, Mathematics) education company co-founded by Michelle Dickinson, has collapsed owing more than $260,000 to the Inland Revenue and nearly $200,000 to other creditors. 

Liquidators say there’s virtually no chance any of them will be repaid.

The company once enjoyed generous taxpayer support, receiving $1.6 million from MBIE’s “Curious Minds” fund and additional grants from the Ministry of Education and MFAT. 

But when the taps were turned off, the business crumbled. Dickinson blamed the government for cutting funding and said revenue sources had “dried up.”

The liquidator’s report reveals Nanogirl had just $11,769 in cash when it folded and no valuable assets to sell. Inland Revenue has lodged a $267,000 claim for unpaid GST and employer taxes. Staff contracts were terminated, and only a few birthday party bookings were completed by contractors.

Unsecured creditors have filed claims for nearly $192,000, but are unlikely to recover any money.

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