Experimenting at the frontiers: Looking beyond the known and enabling breakthrough innovation

Should philanthropy do more to support basic research, breakthrough innovation and, in general, the “culture of knowledge”? Philanthropy’s “comfort zone” may not currently lie in these areas, but instead in funding the application and transfer of innovative solutions to broader society. However, strategic grantmaking activities carried out by foundations and philanthropic organisations for frontier projects in the fields of science, technology, and the digital realm are needed now more than ever. This is especially true when considering the financial constraints on government budgets which have become increasingly challenging in recent years, notably in Europe.

Bridging the gap between ideas and society-changing innovation

In a world characterised by permanent and disruptive change, where the future is not a linear projection of the past, we absolutely need a new mindset and an open approach to emerging phenomena. Philanthropy, thanks to its unique ability to integrate patient capital, its commitment to the common good, and its multidisciplinary skills, can operate as an impact generator. It can thereby become an enabler of developments that coexist with, and if possible, anticipate, the great transitions of our time.

Ideas need nurturing before they can flourish into projects, products, and services. Without basic research, the innovation pipeline will rapidly dry out. Without new scientific discoveries or radically new models or paradigms in science, there will be no solutions to the crucial problems society faces. The role of philanthropy in bridging the gap between ideas and society-changing innovation is a significant
added value which can help address the challenges of the modern era and positively impact the common good.

Enabling the conditions for experimentation

One could even argue that the mission of philanthropy is to experiment and test at the frontier, looking beyond the spectrum of what is known and building the conditions for further innovation. This necessitates a willingness to risk making mistakes (but always learning from them).

For this reason, the interest and commitment of some enlightened philanthropic actors to support breakthrough innovations in quantum computing or artificial intelligence should not come as a surprise. The more the boundaries of technology are pushed, the more essential it is for philanthropy to start developing both a new language and approach. The availability of “sapiens machines” equipped with enormous computing power and processing resources calls for an ethical and human-centric approach capable of promoting all the pillars of philanthropic intervention: inclusion, well-being, health, education, culture, and environment.

Innovation for the common good

History teaches us that innovations with great impact must be accompanied and guided by vision and responsibility. Two examples can be highlighted to illustrate this point, the first one showing the positive side of this principle: Since 1993, when CERN decided to make its code freely available without asking for any royalties, access to the World Wide Web has been open and free. This decision was based on the belief that the web’s user-friendliness would quickly make it the most widespread technology for exchanging data. Less than two decades later, in 2012, access to the internet was recognised by the UN as a fundamental right of humanity, enabling the exercising of and access to other basic rights such as the right to work, social security, education, and healthcare.

On the more negative side, when disruptive innovations are mainly influenced by economic motives or industrial strategies, the risks of inequality are significantly higher. Consider the market for semiconductors, which are core components used to produce all types of chips found in electronic devices.

The availability and access to the raw materials needed to make them (which include lithium, rare earths, graphite, and cobalt) generate significant social and environmental concerns, due to factors such as the concentration of supplies, geopolitical tensions, trade restrictions between major economies, and supply chain crises. One could also highlight how the dominance of nuclear technology has completely shaped the post-Second World War geopolitical equilibria up to our time.

This is why the role of philanthropy remains to stimulate debate; support the dissemination of evidence about emerging challenges; promote knowledge and awareness; and provide both scientific advice and evidence to empower decision-making processes (Europe has a long tradition in science diplomacy). This task should be approached with a proactive attitude, to make sure that discoveries and subsequent technologies are aimed at the common good, and that they remain neutral and open.

Why philanthropy needs to collaborate systemically

The uncertainty and complexity of current megatrends are so great that action by a single philanthropic actor is not enough. The sector at large will need to come together in a systemic network that can effectively leverage the allocated funds in a way that maximises its impact and efficiency while fostering de-risking.

Collaboration among philanthropic institutions can assume different forms. Examples include pooling donor resources, aligning strategies to promote common goals, exchanging technical-scientific expertise, and experimenting with innovative grantmaking and investing tools, including a combination of both modalities (blended finance).

Moreover, philanthropy must interact with other actors in the research and innovation ecosystem, starting with major European institutions and their most effective instruments, the European Research Council (ERC) and the European Innovation Council (EIC). Engaging in collaborations with such institutions can support high-risk and high-impact breakthrough innovations in areas crucial for our future, including climate change, cancer research, environment, energy, society, and population ageing.

Putting resources in service of the four transitions of our time

Philanthropy must act in service of the four top transitions of our time (environmental, digital, social, and cultural). To achieve this purpose, philanthropy can and must become the “home” of research and innovation for the common good. To make this happen, we need philanthropic institutions and leaders capable of establishing real and long-standing strategies. They should be equipped to navigate difficult waters that might include minimal or no immediate results, failures, and inefficiencies, all the while recognising that this is the sole viable route to human progress.