Thank you, Madam Chair.
I would first like to thank the witnesses for joining us today. They have provided us with very relevant and important information on innovation in health care.
Based on the presentations that we have heard this morning, my conclusion is that Canada has difficulty transforming basic research into applied research, which could allow Canadians to benefit from those innovations.
Dr. Menon, my understanding based on your remarks is that our technologies, which are paid for by Canadian taxpayers, are sent abroad because our corporate culture does not include venture capital. So, unfortunately, people abroad are the ones who will take advantage of Canadian innovation.
Could you tell me how the new research and development government cuts are going to further compromise a situation that is already deplorable, in my opinion?