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| Re: For-Profit Research grants
Posted by Julie Rodda on 12/13/2007, 5:22 pm, in reply to "Re: For-Profit Research grants"
VIP Poster
Aurelia:
Some of the research they performed was under the NIH, and separate from any medical production. In CORRECTION to my earlier post, those monies were received as a sub-contractor from major medical centers (which would represent a not-for-profit application). The research they conducted lead to outcomes which prompted the medical devices they are now testing, firmly funded by grants from venture capital partners. In addition, I believe some of the testing phase is covered by grants applied for by medical partners (which would be non-profits)...it can be quite fascinating to track where all the money comes from to bring major medical changes to the marketplace. I admit that I am not the most knowledgeable in how it all works.
The funds from the venture capitalists are called grants, strictly implying if (in this case) the product fails to go to market, then the funds do not have to be repaid. Obviously, there are many incentives for positive outcomes. In reality, it truly is more an investment, but for legal reasons involved, they have termed them grants. The only reason I know they exist is due to the fact that a family member has worked for several medical research-to-patent exploring companies, dealing primarily in 'responsive medical hardware' related outcomes from the research performed. These specific grants came from private investors looking for a strong pay-out in the end, but balanced by the fact that at any point they may not receive any return...as happens with venture capital, and the reason they are termed grants.
Hope that clears up any confusion to which I may have contributed. If you wish to know the name of the company/products they are testing, please contact me directly by clicking on my posting name for email. I can provide some news article links which include company name and location.
Julie Rodda
http://www.roddaconsulting.com/
Funding Consulting, Grant Research
& Proposal Writing Services
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