Thank you.
The big picture is that Canada has areas of real strength and excellence around energy, around the use of its natural resources, and around biomass. It's something that we don't get to discuss so much, but we have a lot of biomass. We have some very advanced technologies for converting that to add significant value to the agriculture and forestry communities, which are very commodity-based. These clean technologies take waste streams and convert them into revenue streams. We have strength in these areas.
We are seeing the creation of IP. I don't know the exact numbers, but we see that flowing into companies. Our universities are structured differently from those in the U.S., so the IP has usually left the university and is inside a company before it's something that we would work with. We are seeing that movement there.
I would refer to the Jenkins report, which says that direct programs provide greater societal benefit. Obviously I'm slightly biased, as SDTC is a direct program as opposed to an indirect taxation program. We are not seeing any letting up of opportunity; if you're asking if it's being choked off and if we don't have enough capacity, we are overwhelmed every time we call for a round of investment. It's flowing well, and I believe to good effect.
In terms of being cost-efficient in the way we use public funds, currently we've leveraged one public dollar to 14 private sector dollars. I don't see a comparison to that anywhere else within the system. However, we've now been around long enough since we began, when there was no clean energy and no definition. There was a need to really push things forward.
We've grown enough capability and recognition for Canada that there are ways of structuring the way we and maybe others would operate so that we could issue grants with warrants. We think a warrant mechanism is a sophisticated approach that the market understands, one that would allow us to take an upside on the companies that are the most successful.
We're also looking at a co-investment model that would enable us to make investments side by side with the investment community, both venture and equity, so that we could take small companies that need to grow fast domestically and become more powerful to reach into the export market. I would call it an acceleration methodology.
I believe there are ways of even further improving that leverage and ensuring that the private sector is appropriately engaged in making the commitment and taking their share of the risk.