Biomedical venture philanthropy has captured the headlines many times in the last year or so.To some, venture philanthropy entails operating for-profit organizations in a nonprofit setting.To others, venture philanthropy equates with social entrepreneurship.Frequently,theterm has been used to cover any philanthropic endeavors practiced by young dot-com millionaires.Today's venture philanthropists take an active role in their funded endeavors, much as venture capitalists do with their startups, to ensure the recipients achieve the desired results.They do not just write checks.The money is considered an investment, not a gift, and the investors expect return on that investment, although they may not be able to measure the return in dollars and cents.
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