From Lab Bench to Park Bench - We Have a Problem

We have a gap in the science innovation equity space. Most scientists do not go into science thinking that they will create a billion-dollar company. We go into science to solve problems and generate new knowledge that might change the world. However, our current system of getting breakthrough science and innovation out of academia and into society, from lab bench to park bench, is by necessity through the commercialization pathway. That’s not necessarily a bad thing, it’s just that if there is no market or no profit to be made, then where will the resources come from to bring the innovation through?

The way the process works is that the scientist/engineer/innovator has a breakthrough, the university files for the Intellectual Property, and then a business team is put in place to turn it into a company. From there, the company has to find funding from Angel Investors and Venture Capital Funders. Venture Capital Funders have a short-term drive to get to an ‘exit’ creating huge financial returns for their investors; the more and faster, the better. Ultimately this brings the breakthrough out to the public. So, this is a good thing, right? 

Yes. Mostly.

However, $$$ becomes the primary driver influencing the direction of the science breakthroughs.

So, what is the problem? Let’s take the life science/healthcare breakthrough space. At the end of the day – when the innovation comes through this process it likely only reaches the park benches in the best part of town. And then we have an access problem. The only ones who can access the breakthrough science (if it even makes it out to the park bench) are those with a lot of money, proximity, and/or the best insurance.

So, you might say, “yeah, but the breakthrough got out there and is saving lives!” Yes, yes, it is and that is great. But whose lives are being saved? Who has access to that innovation?