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Thread: ChinaSCINet Funding Status ?

  1. #1

    ChinaSCINet Funding Status ?

    Dr Young, can you give an update on the status of funding for ChinaSCINet? What do you have and what do you think you will need ? What would it take for multiple trials to be run concurrently?
    Also if an individual or corporation wanted to contribute to the ChinaSCINet how would they do so. Is there a US based registered non profit (503b?) that collects funds for ChinaSCINet? Many US companies will only contribute to registered US non profits.
    Thanks.

  2. #2
    Quote Originally Posted by litespeed4
    Dr Young, can you give an update on the status of funding for ChinaSCINet? What do you have and what do you think you will need ? What would it take for multiple trials to be run concurrently?
    Also if an individual or corporation wanted to contribute to the ChinaSCINet how would they do so. Is there a US based registered non profit (503b?) that collects funds for ChinaSCINet? Many US companies will only contribute to registered US non profits.
    Thanks.
    litespeed4,

    Two organizations are being set up. One will be called China SCI Fund and the other China SCI Network. The first will be a charity/trust foundation that will be responsible for raising money for the ChinaSCINet and will have charitable status in both Hong Kong and the United States. The second will be a non-profit organization that will be responsible to running the ChinaSCINet, contracting with both sponsors and participating organizations. Both are being set up right now. The China SCI Network should be established by July 2006. The China SCI Fund may take a while longer, since it takes 9-12 months to get the charitable status in Hong Kong.

    In the meantime, we have been using Hong Kong University Spinal Cord Injury Fund (HKU SCIF) and the Rutgers University Foundation (RUF) as repositories of donated funds for the ChinaSCINet activities. Both have charity/foundation status in the U.S. Obviously, HKU has such status in HK. Thus, ChinaSCINet is currently being sponsored by HKU and RU. This will obviously change in the coming months when China SCI Fund and China SCI Network are established.

    Regarding the amounts of funding required, I have estimated that ChinaSCINet will require sbout US$50 million per year to run at full capacity. I believe that a majority of the funds will come from commercial sponsors, such as pharmaceutical and biotechnology companies. However, there will be some therapies that do not belong to commercial entities and must be supported by donated funds. Also, the ChinaSCINet must first show that it si capable for running these clinical trials and these will need to be supported by charitable or government funds until the commercial sponsors will be willing to invest. We are hoping to raise about $12 million in the coming year for this purpose.

    Wise.
    Last edited by Wise Young; 03-02-2006 at 01:22 PM.

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