I think you've identified it correctly. The problem is the post-research; that is, there's been a relatively smaller proportion of venture capital to invest in these risky outcomes. Somebody develops something that has promise, and it may be a decade before that promise is realized. Is there the capital in the country to invest in that? There's been more of that in the United States, for example, than in Canada.
On February 12th, 2008. See this statement in context.