FasterCures’ second Partnering for Cures of 2017 closed with a discussion of the new generation of philanthropists pledging their funds to help solve some of humankind’s most pressing health challenges. The conversation covered evolving approaches to philanthropy, support and collaboration with other sectors, and problems unique to the medical research/health-care space that donors face.

One aspect of the next generation of philanthropy is bringing together other stakeholders, whether to better understand a disease area or to support a cohesive approach to philanthropic efforts. LaTese Briggs, director of strategy and programs for the Milken Institute Center for Strategic Philanthropy, emphasized the importance of looking beyond medical researchers and basic scientists to figure out the roles of other stakeholders, like patient advocacy organizations and other funders, to achieve a nuanced understanding of the challenges of a disease.

Todd Sherer, CEO of the Michael J. Fox Foundation for Parkinson’s Research, suggested that philanthropists should fund activities within the disease area that will truly make a difference. Sherer also said the power that funders can wield over how research is conducted. They can require sharing of data and collaboration among researchers, patients, caregivers, stakeholders, or other partners to help push research in their desired direction.

Bringing together resources and interdisciplinary collaborations can also speed up processes and progress, as Mark Smolinski of the Skoll Global Threats Fund shared. The foundation brings together engineers and experts in human health and animal health to work through problems in open data sharing and tool development.

Read the the full article on new generation philanthropy by Milken Institute.