Thank you, Mr. Chairman.
Thank you to the members of the committee for giving me the opportunity to appear today. It's an honour to appear with such a distinguished group, and with another distinguished appointee like Jim Hall.
As you likely know, I have a deep interest and experience in taking concept technologies to global markets. What you may not be aware of is my profound interest in energy and sustainability both here in Canada and globally. Having represented both Canada and the global private sector on the United Nations Secretary-General's High-level Panel on Sustainability and founding and chairing the Centre for International Governance Innovation, I've contributed to leading discussions on striking the right balance between immediate economic pressures fuelling global growth and ensuring that our planet remains sustainable for generations to come.
Sustainable Development Technology Canada, or SDTC, is a natural crossroad for my various interests, experiences and skills, from the commercialization of clean technologies to the broader public policy surrounding competitiveness. The fact that SDTC exists and was recapitalized in Canada's economic action plan in 2013 to the tune of $325 million over the next eight years was, in my eyes, a clear signal from the Government of Canada. It was an indication that they're serious about ensuring that we, Canada, have a balanced energy portfolio and that we are committed to investing in economically viable clean technologies to power our country and the world in a sustainable fashion for generations to come.
When the opportunity arose to serve as chairperson of SDTC, I felt a deep sense of pride. It was pride not only to serve Canadians, but also to assist the entrepreneurs SDTC works with every day for trail-blazing in technologies that have the potential to create high-skill, high-paying jobs in communities across Canada.
Since the Government of Canada announced my appointment as chairperson of SDTC earlier this year, I have immersed myself in the organization. It has become clear to me over the past few months that the projects SDTC invests in are helping to commercialize innovative technologies, capitalizing private sector investment, delivering a quantifiable environmental impact, and employing more and more Canadians in the clean-tech sector.
There are many parallels between the work I'll be doing with SDTC and my previous professional experience. Technological innovations can transform whole industries. They often encounter competition, and are faced with many potential pitfalls along the way. SDTC gives small and medium-sized enterprises opportunities that would otherwise be lost in the innovation gap. The organization is playing a vital role in helping to bridge the gap for innovative technologies that need a boost to get from the laboratory bench to commercial viability.
SDTC is adding value to the clean-tech sector in Canada and is much more than solely the investments they make in early stage technologies. For leading academics, financiers, entrepreneurs, and government officials, it serves as a hub to incubate ideas and technologies. The organization's experts follow these projects from their first application right through to completion. After investing in their project, SDTC helps companies raise the necessary financing and secure that important first customer. With one of the largest portfolios of clean-tech companies in the world valued at over $2 billion, SDTC is helping Canada maintain its global leadership position in the field, and the organization is delivering tangible results. Twenty-two SDTC-supported companies currently in the market are projected to have $5 billion in revenue and create 24,000 jobs by 2015.
I must take this opportunity to say that from what I've observed, SDTC is doing all of this in a frugal fashion. The management team is committed to ensuring that they are a pan-Canadian organization accountable to Parliament and to Canadians. They've also demonstrated to me that they are committed to strong oversight of the companies they fund, while limiting excessive overhead expenditures so that the dollars they have can be maximized. From my experience, these are all vital components of successful organizations.
Let me conclude my remarks by saying that risk-taking contributions to Canada's competitiveness and global sustainability are recurring themes throughout my career. I have an affinity for SDTC, its mandate and its people, because I believe we share these traits.
The entrepreneurs that SDTC invests in have taken a major risk personally and professionally to bring their innovations to market to the benefit of all Canadians. SDTC has a strong track record for delivering economic and environmental benefits for the Government of Canada and Canadians.
My hope is that I can play a part in helping the clean-tech industry in Canada in a way that contributes to sustainable economic growth for generations to come.
Thank you again for the opportunity to speak with all of you today. I'm certainly pleased to answer any questions you may have.
Thank you, Mr. Chairman.