1. The Idea to Impact Gap: Creative Solutions for Funding Science-Based Startups
October 20, 2016
Sarah Kearney Founder and Executive Director Prime Coalition
Daniel Goldman Managing Director Clean Energy Venture Group
Susan Galli Partner Ropes & Gray LLP
Mark Chandler Managing Director Upstream Partners

2. Venture Philanthropy Matrix
Funding Entity
Research Entity
501(c)(3) organization (public charity or private foundation)
Not a (501 (c)(3) organization  
Non-profit research institution ❶
 Operational
Research oversight
Joint research committees
Agreed research plan and budget (translational vs. basic)
Co-contribution to research
Success payments
Milestones
Tranched investments
Accountability
Involvement in licensing/ commercialization
Diligence/march-in
Grant back
Revenue-sharing
Grant multiples
Royalties ❸
Operational
Tax
Private benefit
Private inurement
Intermediate sanctions
Private use
Bayh-Dole (if research also government funded)
Securities
Company ❷
Tax:
Program-related investment
Mission-related investment
Securities  ❹
Commercial transaction
*Variations include: foundation/company co-fund research at institution; collaboration among foundation, NIH, company, AMCs
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