Thank you very much.
With respect to the other question on the models or other countries we can look to, I think that will intersect with the response I'm going to give you. Before 2021, we were asking ourselves the same questions in terms of international models, and, according to the Global Innovation Index, currently ranked number two is Sweden. Sweden and the Swedish Incubators & Science Parks have already disclosed their secret sauce, as mentioned by Sandra Ruuda and Kristian Wirsén, who explained the eight ingredients to create a strong innovation system.
One of them was Swedish culture, and then knowledge, public-private partnerships, softened hard management, how HR looks upon their bankers and how they promote invention innovation within their companies. There's the Swedish model with a high level of digitization, the start-up nation and how they get to that point very quickly as well as open innovation and collaboration, because there is a lot of collaboration amongst many stakeholders within their system.
The emphasis that they have placed is on the practice of giving back, where successful entrepreneurs, operators like Skype, have given back to the community, not in terms of their ability to share their knowledge but in terms of the financial resources that they provide. This formed part of a study that goes back to 2003 on the entrepreneurial effect of giving back. It was also the object of a paper by Stuart and Sorensen in 2003 called “Liquidity Events and the Geographic Distribution of Entrepreneurial Activity" . This is something that would inspire us. It was also written about by our colleagues, the editors Martin Bader and Sevim Süzeroğlu-Melchiors, in their recent book called Intellectual Property Management for Start-Ups, which responds to a lot of these questions. In their chapters in which they were contributing authors, as well as Lally Rementilla from the BDC, they described how this system could be promoted.
Going back to the question of operators and how the Government of Canada maintains relationships with the businesses that have succeeded in how they have managed to grow, scale their companies and have a laser focused on product market fit, those are the people we should be looking for in order to build those relationships and have them mentor and coach small and medium-sized businesses as well as Canadian start-ups through the ElevateIP fund, of course.
Thank you.