I guess there is an aspect to the venture capital action plan audit that has to do with data, but fundamentally we were satisfied with the work done by the organizations at the time—Department of Finance, Department of Industry, and the Business Development Bank of Canada—to try to identify the need—the gap, if you will—in the venture capital world.
They held consultations with stakeholders, so in designing what they thought would be a way of filling that gap and meeting that need, they did a lot of that work. Part of the thinking that went into the design was about saying that they were going to use a fund-of-funds model, which meant there were going to be those two layers of management fees, so all of that was part of the structure.
But certainly, I do agree that the issue now is how they will know whether the investments that are being made are actually going to lead to companies that can commercialize their ideas, that can commercialize the research and development and the innovation. The main measure that they have in place is the rate of return earned on the investment, but that's not something that can be measured for a number of years.
I think what we've identified in this case as essentially the missing information, if you will, is that there are not enough short-term measures to be able to identify whether the companies that are receiving the investments are moving down the road towards being able to commercialize their original ideas and the original innovation. I think that's really where the focus needs to be now, in terms of the $400 million that the government has already put into this program.