That's been the challenge for Canada. We have amazing universities and incredible research. The challenge is getting those new products to market. That's why we've said that we want to build more venture capital in Canada. We have a booming venture capital market, but we want more of those start-ups, those companies that are creating these new technologies.
One of the ideas we're looking at is the fact that British Columbia has an investment tax credit of 30%—it's best in this type of venture capital—and it really appeals to a lot of investors. We're hoping to pull more venture capital into Canada.
There's another idea we were thinking about in terms of some of the tax credits that would work to incent companies to do their innovation here in Canada. A number of countries have what they call a “patent box” or an “innovation box”. The U.K. and the Netherlands have them. It means that if you create an innovation or a technology here in Canada, we'll tax you at a much lower rate; revenues coming out of that innovation will be taxed at a much lower rate. It incents companies to actually do their innovation here.
We want the private sector to step up and do a lot more innovation. That's crucial to the future of our economy. It's about venture capital bringing in new companies and creating them and also having the tax incentive so that big companies do it as well.