Policy and Strategy
The Foundation was formed with a view on creating an international platform for the financial and organizational support of certain scientific research projects in the medical area.
Although many of these projects generate promising initial results, often the costs associated with the further research required to develop new medicines and/or other medical treatments are quite substantial.
Therefore, it often proves to be difficult to attract debt funding from financial institutions or to obtain equity funding from investors, i.e., from private equity houses or large pharmaceutical companies.
At the same time, resources within the academic environment are fairly limited, as a consequence of which many scientific studies must be terminated at an early stage and cannot be carried forward.
Rather than relying on established charities, the founders had the desire to create a separate platform that will actively identify promising research projects conducted at universities, hospitals, and other scientific institutions globally.
The SPD Foundation will raise funds through donations.
As the founders have their roots in a business environment and possess of an extensive network within the international business community, primarily they seek to attract larger donations from multinational companies and high net worth individuals.
Typically, this will concern donors that are passionate about medical research, either in general or in relation to specific diseases in particular. For various reasons, such donors often wish to keep a low profile.
Notwithstanding the above, it goes without saying that donations from all sources are welcome.
Deployment of Funds
Once the feasibility of a project identified is confirmed, the SPD Foundation may actively approach the relevant institution with a view on supporting such project.
Such support will be predominantly aimed at the financing of the underlying research. However, as the organization of the SPD Foundation and its network grow, its support may increasingly have an organizational dimension as well.
Donations can be made either at once or in various installments, depending on whether certain milestones are reached. This will depend per project and laid down in the agreement with the relevant medical research institute.
The SPD Foundation will make donations through grants where it considers the purpose to meet the goals of the SPD Foundation, for example to support research projects and other activities in the area of medical science and its promotion.
The Members of the Board will determine the amount and terms of any donation it deploys.
The SPD Foundation would expect that the priority for the allocation of its grant funding would be for activities that are unlikely to be funded through other sources or bodies.
The SPD Foundation may also consider written proposals received from medical science institutes across the globe. These proposals should meet both the SPD Foundation’s strategic priorities and its statutory purposes.
In considering proposals, the Members of the Board will take into account:
- Strategic dimension: whether the proposal meets the objects of the SPD Foundation and its strategic direction.
- Ethical dimension: whether the proposal meets the values implicit within the SPD Foundation’s objects and explicit in its policies.
- Financial dimension: whether the proposal falls within scope of the SPD Foundation’s funding capacity and priorities.
- Feasibility: whether the proposal is achievable and realistic and is likely to succeed.
Depending on the type of grant approved, the Members of the Board may well require that a formal agreement between the SPD Foundation and any funded party will be entered into.
These agreements will typically include the responsibilities of each party, reporting requirements and evaluations. The agreements may also stipulate that funds will only be released upon receipt of an invoice from the funded party when and as required for the grant.
Finally, the SPD Foundation will also deploy the funds necessary to cover costs incurred for legal advice relating to its statutes, any required taxation or other advice related to its activities, as well as accounting, audit and management/administration costs.