I indicated that Canadian SMEs may not be able or capable of investing in deep tech. I think there are companies from the U.S. and elsewhere that wish to benefit from our innovation pipeline, because our own local businesses are unable to capitalize on it.
The reason why our local businesses are unable to capitalize on it is primarily that, first of all, they don't have a very large presence in the high-tech space. You don't have something like an Apple, a Google, a Facebook or an Intel that is such a large enterprise and has so much revenue that they have a very rich research focus. We don't have that in Canada.
We have smaller and medium-sized enterprises, where most of the day-to-day activity focuses on product development, sales and commercialization of existing technology, and maybe on incremental innovation. You don't see a lot of people taking a lot of risks. That's why I would suspect that we don't do too well on the new deep-tech front.