Thank you, Mr. Chair.
I have here an article that was published in the Globe and Mail this week. I feel that it will be very useful for us. The title is:
“Canadians can innovate, but we’re not equipped to win”. The article states:
We have a long way to go, however. The University of Toronto’s commercialization office states that it is “in a class with the likes of MIT and Stanford.” But Stanford has generated $1.3-billion (U.S.) in royalties for itself and the Massachusetts Institute of Technology issued 288 U.S. patents last year alone; U of T generates annual licensed IP income of less than $3-million (Canadian) and averages eight U.S. patents a year. Statistics Canada reports that in 2009, just $10-million was netted by all Canadian universities for their licences and IP. Even when accounting for universities that have open IP policies, this is a trivial amount by global standards.
What could we do to improve our performance versus the U.S. universities?