Thank you, Chair, and thank you to our witnesses.
I'd like to talk to Mr. Lyall a little bit. Venture capital is always a tough business. It's particularly tough where I come from in Atlantic Canada. It's very hard to get. Small companies that go looking for VC from private investors often get asked where the government is on that file and what help they are getting.
Now, we have a magic bullet in the form of Tom Hayes in Atlantic Canada. He, as I'm sure you know, is with GrowthWorks in Atlantic Canada and has done a lot of work putting his team together.
The first question I have for you is this. New Brunswick has the New Brunswick Investment Management Corporation or something—and I realize you're Ontario, so you may not be able to answer this—where a certain percentage of publicly administered pension moneys go into venture capital; it seems to me it's a limit of 5% or something. The return has been pretty good. I don't know whether other provinces do that. I wonder whether you have a view about this being an effective way for government to seed new businesses.