‘Focused research organizations’ can take on mid-scale projects that don’t get tackled by academia, venture capitalists or government labs.
It takes more than a great idea to accomplish a great project. Our research and experience have convinced us that many worthy projects wither or are never launched because neither academic laboratories, start-up firms nor government facilities can support them.
A type of non-profit start-up could be a better way to support projects that enable research. These would have full-time scientists, engineers and executives, and total funding of about US$20 million to $100 million that would last around 5 years — longer than most grants or venture-capital funding rounds allow. And they would be set up to pursue predefined milestones, such as improving the resolution of a measurement system by tenfold, or gathering a pre-specified amount of data.
In October 2021, after months of ideation, review and design work, three of us launched an incubator to support FROs, called Convergent Research in Arlington, Massachusetts. It is part of the Schmidt Futures Network, which aims to help scale and diversify the funding sources of promising early-stage initiatives supported by Schmidt Futures, a philanthropic organization headquartered in New York City.
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