When I started in lasers in the 1980s, the third-largest laser company in the world was Canadian, here in Ottawa, Lumonics, and we let that go. One of the largest communications companies in the world was Nortel, and before that we said, “Oh, we have to keep the American car industry here, so we'll invest”, but we let Nortel go. Both had 90,000 employees. Somehow, because nobody else but Canada was fighting for Nortel, it wasn't worth fighting for.
We have to take these gems that are Canadian-born and bred and find ways to invest.
One of my favourite examples is Bordeaux, the region of Nouvelle-Aquitaine. It has a president who really sees the advantage, who said to me that they can't just keep living off their wine. They are going to invest in science and technology.
Not only did they build their own new graduate program for optics and put in the small start-ups with the graduate program there, but they said they were also investing billions to make sure that when these companies spin out, they get through that valley of death so that they become big companies. Now the biggest laser company is there in Bordeaux.
There is a way to do it, and we just have to foster it from somebody's lab in an academic setting all the way to the company, and make the company big. Then we say that since we helped you, we expect you to help us back, and then you make sure that you invest again in the academics and we get the whole loop going together.
That's what we need to do.