Regarding the experience to date with the ElevateIP, since it hasn't been rolled out, we can't comment as to how it's going to work in practice. We're working closely with the recipients of the grant to make sure that we have the pathways to get their great work, as well as the work of the other IP-based organizations that have been funded, into the hands of the entrepreneurs who need them.
There's a great incentive for our companies to continue to fund the development of their IP as they grow. In the work that MaRS does, the work we're doing now, we do support companies from zero. They have to be in market, but we support them from pre-revenue all the way up to the $100-million mark. The reason we've chosen to work on that pipeline of activity is that this is where we think we get the broadest chance of success of their remaining headquartered in Canada and growing.
What we hope to be able to achieve with programs like ElevateIP is that the companies that are scaling and growing will be able to continue to develop the IP inside. In the programs that we provide, we focus heavily on what we call commercialization, which is when we help them with sales and with pricing. We have a very extensive program of M and A on the reverse side—mergers and acquisitions—teaching our companies how to become acquirers of IP as opposed to selling their IP. We do that type of work, which kind of we call the “dirty scaling”. It's the commercialization activity that is needed in our companies.