Why do we need research dollars directed to multiple myeloma?
In the past thirty years, we have watched in amazement at the miraculous breakthroughs achieved in battling breast, lung and colon cancer unfortunately, myeloma like many of the other deadliest cancers (pancreatic and liver included) have not seen a significant treatment breakthrough.
Only one-tenth of 1 percent of government money is currently available for multiple myeloma research. That’s why we need to come up with new ways to create funding streams for innovative research designed specifically to battle this disease.
What is the new Inspired Venture Program in Multiple Myeloma?
To increase funding for innovative research, the International Myeloma Foundation and the Goldman Philanthropic Partnerships are co-sponsoring the Inspired Venture Program in Multiple Myeloma. This joint program is designed to advance groundbreaking research concepts that have the capacity to quickly make a difference in the lives of multiple myeloma patients.
The new program merges business with philanthropy to forge new partnerships between research institutions, nonprofit groups, businesses and individual donors. Through combined funding of these groups, the program will advance high-risk/high-reward research projects that may be through traditional government and nonprofit organizations.
The Inspired Venture Program in Multiple Myeloma is modeled after venture capital and limited partnerships. That means the Partnerships is actively involved in each scientific project through monitoring of timelines, business plan development, reporting of research results to partners. This insures that each project is on time and on target so donors know how their dollars are being spent.
Is this business approach new to cancer research funding?
Yes. While some organizations in the educational and social services arenas have initiated new efforts termed venture philanthropy, which combine targeted financial assistance with active management. But in the nonprofit arena, the Goldman Philanthropic Partnerships’ Inspired Venture concept is unique in applying business accountability to the disease research process. The program allows donors to earmark their dollars for a specific innovative research project in multiple myeloma.
Ultimately, donors work with researchers personally and travel down the road of scientific discovery with some of the nation’s brightest investigators.
How will the projects be chosen?
Project submissions will be thoroughly reviewed by leading multiple myeloma cancer research experts through the oversight of the International Myeloma Foundation. Once the International Myeloma Foundation and the Goldman Philanthropic Partnerships agree on a project or projects that have the potential to have a groundbreaking impact on multiple myeloma, a business plan will be developed to advance the research project. The Goldman Philanthropic Partnerships will provide business management expertise to ensure that research milestones are reached according to schedule.
How much funding will be required to advance these projects?
Funding needs for research will be determined on a case-by-case basis. The paramount goal is to encourage those highly creative investigators with new ideas to step forward and present groundbreaking concepts that could alter the multiple myeloma research landscape.
Where can I learn more about this program?
Grant application information is available by visiting the IMF web site at www.myeloma.org. Eligible projects include those that relate to myeloma both directly and indirectly, provided that the impact of the proposed research would offer a significant, direct and immediate benefit to the myeloma community.
The Inspired Venture Program in Multiple Myeloma will fund a number of innovative research projects that will inspire new advances in myeloma research. And donors will be able to target their donations to a specific research project that could lead to new breakthroughs in curing multiple myeloma.
To become one of our funding partners in the Inspired Venture Program in Multiple Myeloma, contact a representative from the International Myeloma Foundation or the Goldman Philanthropic Partnerships.
About the International Myeloma Foundation
About the Goldman Philanthropic Partnerships
The Goldman Philanthropic Partnerships is dedicated to seeking out innovative research and exceptional treatment options to cure cancer and other catastrophic diseases. By applying strategic business principles to philanthropy, the Partnerships creates and sustains a vital portfolio of cutting edge projects.
The Partnerships funds pioneering work through Inspired Ventures, which are philanthropic enterprises among innovative researchers, partners institutions and organizations, dedicated donors, and the Partnerships. Through these Inspired Ventures, donors target their funding to specific projects that may ultimately provide groundbreaking advances in medicine