Honest Brokers for Cures: How Venture Philanthropy Groups are Changing Biomedical Research
Published: March 2013
This publication features valuable insights and perspectives from leaders of medical research foundations that are transforming the cure enterprise by virtue of how they find and fund research. In this report, FasterCures dissects the new business model that has emerged from the shared sense of urgency and frustration stemming from these patient-driven foundations, also known as venture philanthropy groups. It provides a glimpse into how these entrepreneurial groups have ramped up their in-house expertise, and how they've tackled the science where it needs the most effort and resources, from basic to clinical research, and everywhere in between.
These venture philanthropies are not just passively handing out funds - it is not just about the research that they have paid for; it is also about how they have built something that is far greater than the sum of its parts. They are moving away from the more conventional models of public charities and nonprofits and instead are adopting the tools and techniques of venture capital finance, and the strategies and tactics of high-technology business management. We can all benefit from the lessons they've learned.