Venture philanthropy describes a shift in funding behaviour away from traditional response mode funding of research to a venture capital approach, where funding is given to support strategic projects in universities, spin outs or companies, which charities hope will allow research ideas to be translated to tangible outputs, and where financial reward may also be anticipated.
In 2015, AMRC held a number of discussion meetings to examine the various models of venture philanthropy and other new models of funding. It was clear that this is an area that is important to the medical research charity sector, and where the development of authoritative advice and support would be useful. These approaches bring together the passion of charities to fund important research that will benefit patients with the clear sightedness of venture capital – we call this passion capital. The Passion Capital Working Group is a natural next step.
Aims of the group
This group will examine the current models of venture philanthropy and other novel funding models, share their own experience and develop some resources to help staff and trustees of AMRC members understand and use these funding model. By including members from a variety of sizes of organisations, and across the varied roles working in this field, we hope the group will be able to develop resources that are fit for purpose. The group will meet face to face, and will invite representatives from external organisations to inform the discussion.
For more information, please feel free to contact Liz.