I would not be so critical. Basic research is important for preparation. Results can only be seen in the long run. Canadian universities carry out research in all kinds of fields which do not necessarily lead to commercialization and I would not want to criticize that. However, as far as commercialization is concerned, with a bit more money we might be able to get much more from research by a leverage effect. That is why we say that more money has to be invested in commercialization, in order to ensure a smoother transition from research to commercialization.
On May 15th, 2008. See this statement in context.