'Lack of hands-on experience'
He added: "Most (with a couple of exceptions) of the fund managers in Northern Ireland tended to be chartered accountants, so there is a great lack of real hands on experience that could be used to help those start-ups."
And finally, Mr Kirk thinks that the Invest NI training for entrepreneurs that has been running over the last couple of years has backfired.
He said that "because they probably didn't ask the right questions when they selected the people doing those programmes the end result is not only slightly ineffective but dangerous.
"They have graduates or alumni from these programmes that are actually dangerously naive when it comes to investing."
The report has been submitted to Invest NI and they have accepted a number of the points made, but Mr Kirk said there needed to be a changing of the guard when it came to giving advice on investing in Northern Ireland.
He added: "The 21st century technology start-ups are not your father's start-up companies and there's dozens of people within a square mile of where they are sitting that can provide real advice and real experience.