Thank you very much.
To both of you gentlemen, I've appreciated your presentations and your deliberations. As you can appreciate, this committee was formed precisely because of the gap we saw in support of the commercialization of IP.
You've both done a good job of recognizing some of the strengths in the system and some of the shortcomings and what's required. Both of you have reiterated that what gets measured gets done and reiterated the importance of ensuring that we have the proper data to formulate resolutions to some of those shortcomings.
Mr. Francq, I want to go to you first. The Conference Board of Canada has a lot of accomplished individuals and business leaders who are looking at some of these situations in terms of strengthening Canada's economic well-being. You've posed challenges by way of your five recommendations—providing greater incentives, supports for innovation by way of funding some of those issues, prioritizing some of our IP rights and of course sharing data and then measuring what we do.
My question is this. I think all of us agree that more needs to be done in terms of protecting our sovereignty as a nation with regard to our innovation and then the commercialization of this innovation. What is the private sector doing to facilitate it? I mean, from what you've highlighted, many of your recommendations we are already doing to an extent, but what more can we do to ensure that the private sector takes some of the risk or is prepared to assume more risk?