Following on from the Global Financial Crisis (GFC), governments around the world have been looking for innovative ways to make a bigger impact with their available funds and to address the paradox that investing in R&D to improve delivery of public goods and services can save taxpayer money, but that it is currently difficult for public bodies to justify the risk and expense.

Social Impact Bonds (SIBs), also known as pay for success contracts, were first introduced in the UK in 2010, as a mechanism to improve innovation and cost-efficacy by incentivising impact investors to participate in the delivery of…


Crowd Funded Cures (www.crowdfundedcures.org), a New Zealand based charity, is commissioning a high-level feasibility study conducted by Guidehouse (formerly, the public consulting arm of PwC) to use financial innovation to incentivise development of Unmonopolisable Therapies and Unprofitable Therapies using Pay for Success Contracts such as Social Impact Bonds (SIBs) or Prizes/Bounties. Unmonopolisable Therapies such as repurposed off-patent drugs or supplements are true “open source medicines” or “public goods” and require the establishment of alternative “non-patent” incentives such as Social Impact Bonds (SIBs) which are designed to incentivise private investment in delivery public goods and services. …

Savva Kerdemelidis

IP/Commercial Legal Adviser, Patent and Trade Mark Attorney interested in Healthtech/AI/blockchain — founder of Crowd Funded Cures www.crowdfundedcures.org

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