If there is an industry in an emergent technology, they're the perfect people to translate what's being developed. The challenge we're facing at this point is that industry is not there. I think the real question is: how do you create these industries in Canada? That's a billion-dollar question, and almost every country is asking it. In Korea, the way they've done it is that Samsung just took over. They bought hospitals. They know it's important to go into health care. Because Samsung is a global player, they've made their own impetus. They decided this was what they were going to go after.
In the emerging technologies in Canada, we don't have a full industry. How do we create the necessary energy? You have two options. One is the lottery approach, which is to start a bunch of companies and hope one or two are successful. The other is to take a targeted approach, focusing on a couple of areas and hoping they will come through in a few years if you give them support.
This is a big question that everyone is asking. I want to explain a little bit about how I came to be doing what I'm doing. When I was a grad student, the quantum dots you saw, those vials, that's what I developed in graduate school. I wanted to use those things in biology. Everybody used them in electronics. I read a 1977 paper from a Russian scientist. My adviser said we could use the quantum dot for biology, so we patented it. We sold it to a company, the Quantum Dot Corporation, but after four or five years, it never translated.
As a scientist, you are emotionally involved with your technology, because you are the one who developed it. It frustrated me because it wasn't translating and I couldn't understand why. I learned later on that there was a lot of infighting and different focuses, so that drives me to have a little bit more control of how to do translation. But I'm not sure if there are a lot of sciences that have that particular aim. It's just because I want to see things go forward.