I think one of the things we have to remember is that pension funds and others can't take advantage of the labour-sponsored venture capital credit, so there is a need for a new approach in Canada. When I chaired the savings commission for the Government of Alberta in 2007, we observed that one of the key differences between the United States and Canada was the lack of scale. With scale, you would get more experts, like scientific experts, who are involved with funds.
One of the successes in the United States has been these large-scale venture capital funds that have been operating there. To the extent that you can encourage a larger scale in achieving venture capital management, I think you might be able to start pushing the system into a far better one than we have currently.
I'm hoping that perhaps these partnership funds that some of the provinces have been doing, as well as what's been proposed by the federal government, might be the approach to achieve that. But I think we need some careful evaluation of that point.