A possible mode of its sponsorship might be via a partnership between public and private sources of funds. Such an arrangement scheme would combine the best of both worlds. Flexibility in finance, and efficient access to extensive academic networks and infrastructure could be a powerful combination.Private companies and others will, of course, ensure that they have adequate in-house expertise, and will also be aware of the best academics working in their fields of interest. However, major discoveries are usually unpredicted. Almost every major discovery in the biosciences, for example, came unexpectedly from outside the biosciences.
Participation in a Venture Research initiative would include the following benefits to sponsors:
- Complementary expertise
- Privileged and routine access to scientists with unique scientific perspectives
- Early warning of transformative discoveries
- An enhanced reputation for altruism and excellence
- Advantages in recruiting the best scientists
Costs would be low. A US scheme would cost about $25 million per annum - a UK one about half that.