I think the role for the federal government is to create a climate in which the private sector can really take those ideas and make them into commercial outcomes. I think the challenge has been the misconception, in some ways, that academics know how to commercialize research. They don't. That's not what they were trained to do. I think the really important role for the federal government and for the academics is to protect the ideas in a manner in which they can be commercialized by the private sector. So I would say one of the most effective mechanisms of commercialization is really getting our graduates employed in companies that traditionally have not employed graduates, small business and large companies that don't traditionally employ PhDs. What incentive can the federal government create to make that happen?
The second thing is the issue around venture capital and the tax laws and the fiscal and regulatory environment to allow small businesses not only to get going but then to be successful in getting second- and third-round financing in order to sustain growth.
There's the business about making sure you have a management pool and you can attract that, and that comes back to the cities agenda. Attractive places to live attract top-quality people.
So that's a huge set of opportunities that really support commercialization. But finally, commercialization is very much something that the private sector needs to aggressively undertake.