Executive Summary: HICCC

The Herbert Irving Comprehensive Cancer Center (HICCC) aims to bridge the gap between laboratory research and clinical application.

Problem:

How does HICCC acquire sustainable long-term funding outside of Columbia-affiliated sources?

Methods:

1. Benchmarking: Analyzed 10 incubators, 11 venture capital firms, 4 pharmaceutical companies, and 10 philanthropic organizations.
2. Stakeholder Engagement: 45 hours of discussions with HICCC and industry experts.
3. Feasibility Assessments: Evaluated funding options based on monetary scale, alignment with HICCC’s mission, and probability of success.
4. SWOT Analysis: Identified strengths and weaknesses to determine funding strategy.

Findings:

1. Philanthropy is the most feasible funding avenue due to:

● Minimal expectation for financial returns.

● Alignment with HICCC’s mission of advancing oncology research.

● Success stories from similar programs (ex: $300M raised by Ohio State’s oncology initiative) found via benchmarking.

2. VCs and Pharma partnerships were deprioritized due to:

● High risk, early-stage research

● Misaligned goals

● High control demands and IP constraints

Recommendations:

1. Focus on Philanthropy:

● Develop a targeted communications strategy to engage philanthropists.

● Showcase past successes, emphasizing the program’s patient-centered mission.

● Host outreach events and personalized donor meetings.

2. Phased Go-to-Market Plan:

● Secure $5M in philanthropic funding within two years.

● Leverage Columbia’s alumni network and reputation to connect with donors.

● Build partnerships with academic and industry leaders for long-term growth.

Impact:

Securing philanthropic funding will provide the financial stability needed to sustain HICCC, enabling it to expand its oncology research pipeline and contribute to critical advancements in cancer treatments. Ultimately, this approach positions HICCC to fulfill its mission while addressing immediate funding challenges