I don't have much to add. I agree with everything Professor Morck has said.
It's well known that these labour-sponsored venture capital funds in Canada do exactly that: they don't do a very good job at screening. So what ends up happening is that the good projects are subsidizing the bad projects, and you get bad outcomes.
I think this feeds into the general consensus that the ability to identify good projects, to make the business case for them, and to take them to market is another area that needs to be worked on in the Canadian context.
Thank you.