It may be argued that there is an adequate supply of funds from sources that are prepared to take the long view, foregoing near-term returns on their investments in exchange for a higher yield over the life of the investment. Insurance and pension funds, for example, may wish to allocate a portion of their portfolio in this way.
What they may lack is an appropriate vehicle for channelling those funds in the direction of innovators. The Stock Exchange does not provide such a platform, because innovating firms will not have a track record of success in the intended activity, as the basis for attracting investment in their equity.