That's a very good question. Let me frame the problem to exactly where we see the problem in our sector.
If you take a company at a start-up level, what I call the incubation level, there is really no funding problem. Friends and family can fund them to get the product to pre-commercialization or maybe up to the first customer, so there is no funding gap there.
Once the company has the product on the market and it now needs to scale, meaning it needs larger financing, until they are cashflow positive no Canadian bank will write a cheque. They cannot get any funding, unless they have a foreign business supported by EDC as a guarantee. The whole funding model in Canada suffers there. The VCs in the Canadian market are in complete chaos. I think the recent announcement around the $400 million that came from the government is very good news and is creating a fund of funds, but it still hasn't been doled out, and that's where the gap is. These companies are trying to scale while they're cashflow negative, and nobody in Canada gives them money. There's no family money anymore, and they need more money.