HST.921 / HST.922 Information Technology in the Health Care System of the Future, Spring 2009
Harvard-MIT Division of Health Sciences and Technology
Course Directors: Dr. Steven Locke, Dr. Bryan Bergeron, Dr. Daniel Sands, and Ms. Mirena Bagur
Various Funding Sources for
Healthcare/Life Sciences Companies
HST 921: IT in the Healthcare of the Future
April 16, 2009
Agenda
• Definition
– Social Entrepreneur vs. Entrepreneur
• Various Types of Sources
• Funding Landscape
• Panel
Entrepreneurship
• Word first used in English in 1800s, now common business
terminology, but not so even 20 years ago
• Entrepreneur
– “one who organizes, operates and assumes the risk in a business
venture in expectations of gaining profit” Webster
• Social Entrepreneur
– Best described by Ashoka Foundation’s version of “give a man a
fish…”
– “Social entrepreneurs are individuals with innovative solutions
to society’s most pressing social problems. “ Ashoka Foundation
• Triple-bottom line concept
• Evolution
– social responsibility
Healthcare/Life Sciences Entrepreneurships:
Funding Sources
Somewhat “free”
Hybrids
Traditional Investors
Taking a “corporate” job
Quasi VCs
-Mass Tech. Development
Collaborative
-Partners Innovation Fund
Angels
-Private
-Groups
Bootstrapping or
Friends and Family
Social VCs
VCs
-Later stage
-Early stage
-Pre-early…
Foundations
- RWJF
- California
Social Angels
Corporate/Institutional
(Siemens, Novartis…)
Grants
- Federal
- State
Banks
-SVB
-new banks
Sources of information:
The Capital Network
MIT Enterprise Forum
Babson, Tufts, etc.
Blended Value Market
More intermediaries = new money
Social
Angels
Grants
Transactional
(e.g. Funds)
Social
VC
Capital
Underdog
New Schools
Infrastructure
Public
Market SRI
Domini Social
Investments
RSF Social Finance
NFF
Lending
SouthShore Bank
Deutsche Eye Fund
Calvert
Philanthropic
Assets/DAF
BOVESPA
Social
Stock Exchange
Exchange
Platform
Evaluation/
Certification
Patient Capital
Collaborative
Acumen Fund
Commercial
Debt
Calvert Special Equities - CF CI Notes - Calvert Mutual Funds
Good Capital
NFF
Capital
Partners
“PRI”
Debt
Generation
Investments
UK Social
Stock Exchange
Local Exchange
Investors’
Circle
Chicago Climate
Exchange
Origo
B Lab
GRI
AA1000
Ashoka
Fourth Sector Network
Aspen Institute
Generation
Foundation
Landscape
Definition
Xigi.net
3 Years
Ago
Today
Source:© JayGood
Capital, Spring 2008
Coen Gilbert, Don Shaffer and John Katovich
HST 921: 4/16 Panel
• Moderator:
– Win Burke, serial entrepreneur
• Panelists:
– Social Entrepreneur: Anita Goel, MD, PhD, CEO,
Nanobiosym
– VC: Christian Cortis, PhD, Principal, ATV Capital
– Angel: Richard Anders, JD, Founder, MA Medical
Angels
– Entrepreneur/Angel: Josko Silobrcic, MD, MPH, MS
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HST.921 / HST.922 Information Technology in the Health Care System of the Future
Spring 2009
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