Let me tell you about Nilesh Bansal, who chose U of T because of its reputation when he came from India to complete his master's degree in computer science. His studies included the development of a tool to analyze social media. The tool was spun out as a new company called Sysomos, which grew to employ dozens as it quickly attracted an impressive list of global clients, including Microsoft, Disney, and Coca-Cola. It was sold to a Canadian company for $34 million, and this young man remains in Canada as the chief technology officer.
Students who return to their home country also benefit Canada by seeding new international networks based on life-long connections they have built here.
We recommend that the government encourage the international education market by investing in excellent scholarships, particularly at the graduate level. Not only will this invite the brightest students from abroad, but it has a potential to leverage existing funding for students from other jurisdictions.
In conclusion, universities are creating the most skilled members of Canada's workforce, and their discoveries will give our industries their competitive edge. We thoroughly appreciate the support provided by the federal government, and we are keen to expand those partnerships and welcome any comments from the chair.
Thank you very much.