Accelerating biomedical research: Evidence from venture philanthropy contracts - 02 May 2024

We were delighted to have Professor Maryann Feldman from Arizona State University join us for a research seminar at the House of Innovation.

Start time: 2024-05-02 at 13:00

End time: 2024-05-02 at 14:30

Location: On-site at the Stockholm School of Economics. Registration required.

Paper title and abstract

Accelerating biomedical research: Evidence from venture philanthropy contracts

Abstract: We examine the hybrid research funding practices of venture philanthropy which blends the prevailing social and economic logics of philanthropy and for-profit funding of academic life science research using funding contracts. Externally funded academic research projects are executed under a legally binding Sponsored Research Agreement (SRAs), which are negotiated with the sponsor. SRAs detail the project’s scope and the specific contractual terms of performance as a condition of receiving the funding. We examine the specific contractual terms delineated in SRAs for funded academic research projects. We focus on 16 life science departments at one prominent research university with a medical school. Our sample includes 392 sponsored research agreements from 224 unique sponsors funded between 2006 and 2014. We delineate funders as Venture Philanthropy, Traditional Nonprofits, Professional Associations, or Industry sponsors. We find the contracts employed by venture philanthropists are in line with traditional philanthropy in certain sub-categories of terms yet diverge by adopting terms more like industry funders in others. Notably, this hybrid approach of venture philanthropy is more likely to lead to invention disclosures than other sponsor types. This blended logic defines a unique approach to funding academic scientists with successful indicators of accelerating research impact.

Co-authors: Alexandra Graddy-Reed | University of Southern California Sol Price School of Public Policy & Janet Bercovitz | University of Colorado Boulder

About Maryann Feldman

Maryann P. Feldman is the Watts Professor of Public Policy and Management at the Watts College of Public Service and Community Solutions at Arizona State University and research director at the Global Center for Technology Transfer. Professor Feldman chairs the Policy Forum of the Science, Technology and Economic Policy Board of the National Academies of Science, Engineering and Medicine, where she also chairs a congressional mandated assessment of the Small Business Innovation Research (SBIR) program.

She is a senior fellow at Heartland Forward, a nonpartisan “think and do tank” focused on improving economic performance. Feldman serves on the advisory board of the Canadian Institute for Advance Research (CIFAR) global program on Innovation, Equity and the Future of Prosperity. She is a board member of the Ontario Brain Institute. Feldman is an editor of the journal Research Policy, the leading journal in the field of innovation studies.

Professor Feldman was a winner of the Global Award for Entrepreneurship Research for her contributions to the study of the geography of innovation, the commercialization of university research and the role of entrepreneurial activity in the formation of regional industry clusters. Feldman is a prolific and highly cited author. She received the Distinguished Scholar award from the Technology and Innovation Management division of the Academy of Management. Her recent research focuses on place-based economic development and the factors that promote economic restructuring and resilience. (Source: Arizona State University).

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