Canada's Venture Capital and Private Equity Association (CVCA) has called on the federal government to develop a comprehensive national technology strategy in light of the uncertainties surrounding the sale of Nortel Networks’ assets. “Large enterprises are vital components of the innovation ecosystem in Canada," said Gregory Smith, president of the CVCA. "These major firms play an important role in increasing the talent pool, in spinning off new companies and in providing smaller firms with strong partners and markets for their innovative products." He said the government must first determine if the sales of Nortel’s assets is done is a fair, open and transparent process. “It must then act to ensure that the maximum net benefit accrues to Canada when the ownership of Nortel and its intellectual property assets are ultimately transferred,” said Smith. “A key consideration in determining net benefit would be commitments to high levels of research and development.” The time is now, according to CVCA, for a determined technology strategy for Canada. The government should consider establishing a blue chip, limited-life panel comprised of company executives, university presidents and venture capitalists with the express mandate to devise a road map for Canada's technology industries. “Such a panel could be tasked with taking a holistic approach to growing our high technology resources - everything from identifying and removing obstacles to commercialization, to fostering angel capital and revamping the SR&ED tax credit program,” said Smith.