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Statecraft

How to Invest Federal Funds Like a VC

Jul 24, 2024
Dr. Sandeep Patel, former Director of BARDA's DRIVe, shares insights from his leadership role during the COVID-19 response. He discusses how BARDA functions like a biotech venture capital firm, bridging the funding gap for crucial biomedical innovations. The conversation dives into the challenges of federal hiring, the importance of attracting top talent, and the innovative funding models developed for health security. Patel also highlights the need for collaboration between public and private sectors to create sustainable solutions for future pandemics.
45:50

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Quick takeaways

  • BARDA effectively bridges the 'valley of death' in biomedical development by funding promising projects that lack commercial viability.
  • The DRIVE initiative exemplifies BARDA's proactive strategy in advancing technology for preparedness against emerging and unknown biothreats.

Deep dives

Understanding BARDA's Mission and Effectiveness

BARDA, or the Biomedical Advanced Research and Development Authority, has a specific mission focused on developing medical countermeasures for public health emergencies through public-private partnerships. This targeted approach allows BARDA to excel in product development and project execution, making it a vital player in emergency preparedness. The agency operates under the U.S. Department of Health and Human Services and is distinct in its focus, as no other government entity is so narrowly dedicated to this goal. Its effectiveness is attributed to its unwavering commitment to its mission, which has proven successful over its almost two-decade existence.

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