Thank you, Madam Chair.
My first set of questions will be for Professor Kristal.
I'll say that it's a pleasure to have you here, as a fellow Schulich MBA grad.
In late 2025, the Liberal government announced a $1.7-billion initiative to recruit up to 1,000 international researchers. That's roughly $1.7 million per researcher. At the same time, many experts, including you, argued that Canada's weakness is not in basic research. It's in scaling and commercialization.
In your view, has the government misdiagnosed the problem altogether by pouring more money into producing research? Should they be focused on something else?