Private interest supports the public needs

Private interest supports the public needs: A completely new business model in cord blood banking: The “double savings approach”

Monthey, SwitzerlandMonthey
Project Stage:
Growth
Budget: 
$100,000 - $250,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

CORDSAVINGS in Switzerland came up with a completely new business model in order to help the private sector save valuable placental stem cells and the meantime take the first step forward to boosting the public cord blood banks to register more stem cells’ sources, which can save lives. We succeeded in involving other partners also in this investment: patients, researchers, investors, family donors and we aim at bringing all parties together.

About Project

Problem: What problem is this project trying to address?

Due to the lack of appropriate financial support for the private and public cord blood banking, the collection rate of the valuable cord blood derived stem cells is lower than needed. 96% of the delivered placentas are discarded as waste, though 80% of the parents in all developed countries agree to have the cord blood collected upon the birth of their child. Already more than 85 diseases are treated with the intravenous transplantation of the haematopoietic stem cells. Patients suffer mainly from life-threatening diseases, where a matching donor sample will be essential. Collection of cord blood has the advantage of the “young” stem cells that are not yet exposed to the radiation and chemicals contrary to those found in the adult body.

Solution: What is the proposed solution? Please be specific!

Our team is working on the solution to find financial support for increasing the cord blood collection ratio with a well-established business model that combines all the parties together from the investors to the private clients. In the appropriate collaboration the parties will induce their activity with resulting success in the increased stem cell collection and furthermore in therapies and research outcomes. With finding the financial solution each parent will have the possibility to enter to save their biological value as well as benefit from the financial investment.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Pregnant women would like to give the entire possibilities for her unborn child. She decides to save his child’s stem cells derived from the placenta. She knows unless she decides on this, it will be discarded as biological waste, and the precious stem cells will be lost. She turns to CORDSAVINGS and finds the solution: she has the cord blood saved for her baby knowing that her financial support will base another sample to be collected for public purposes since it generates a fully dedicated impact investment fund what will not only be directly donated for the public interest but will profit. And with having both the financial investment and the biological assurance, she will be glad to take the greatest care for her baby.

Spread Strategies: Moving forward, what are the main strategies for scaling impact?

Our business model will establish the basics for other national and international, hybrid cord blood banks facing the problem of having the conflict between private and public intend for collection as well as fight against the biggest competitor which is the discard of the unique cord blood sample caused by the lack of financial support. Our aim is to change the mind on the issues regarding the cord blood collection and start to boost up the system. CORDSAVINGS has prepared the ground, both with its state-of-art laboratory and with the financial sector, for the explosion of stem cell based regenerative medicine. More personalised treatments, faster and more complete recoveries: these are the main issues to step further on and our vision for the nearest future as well.
Sustainability

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

The gap between private interests and the social need for public cord blood banking exists since haematopoietic stem cells (HSCs) were first considered to be essential in therapy for blood related illnesses and when realised the umbilical cord blood as a great source of HSCs dated as of 1988. Public cord blood banking supporters claim that a social need of having enough donated samples is in contraire of the private interest supporting the medical opportunities for their family members, though they enjoy the benefits of their marketing tools. Private need for collection aims to save this opportunity for later potential use of stem cells for their own. Lack of the equalized discussion of the two parties, this solution was never achieved so far. We come up with a new business strategy what resolves the conflict of interest and boosts the parties to save more at the same time.
Team

Team

This project requires multidisciplinary activity and could be successfully achieved by only our enthusiastic collaborators both experienced in the field of biotechnology and business development. The project is based on a business model verified by mathematics tools. We have briefly analysed the prognosis of the social needs to find business driver for it with taken under consideration of the direct and indirect results. A well-established business plan and a step-by-step following strategy will assure us to achieve our main goals. Our laboratory activity is supported by experienced assistance that will not only assure the safe operation of the laboratory and preparation of stem cells for cryopreservation, but conduct R&D in order to increase the quality of the service. Decisions-makers works hand-in-hand to laboratory operators to ameliorate the business activity.
About the Lead Co-Creation Partners
Organization:
Famicord Group
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LEAD SOCIAL-MISSION ORGANIZATION
Type of organization (e.g. NGO, association, not-for-profit, foundation, social enterprise)

private corporation – BOTH perinatal stem cells biobank and impact investment fund

Total Number of Full-Time Employees
Lead Contact First Name

Didier

Lead Contact Last Name

Nouziès

Title

CEO

Country

Switzerland

Twitter URL
Facebook URL
LEAD CORPORATE PARTNER
Organization Name

Famicord Group

Total Number of Full-Time Employees

+100

Lead Contact First Name

Jakub

Lead Contact Last Name

Baran

Title

CEO

Country

Poland

Twitter URL
Facebook URL
Organization Website
Basic Info
Project Starting Year

2012

Primary European Country where this Project is creating social impact

, VS, Monthey

Additional European countries where this Project is creating social impact
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New products & services: Entries in this category develop and offer essentials product and services that address needs currently unmet.

What awards or honors has the project received?
Project Summary
Co-Creation Model: Tell us about your main strategic partners and how the partnership truly create value. For each Partner please include its type (business/social/public), its name, a short description, its key motivation to participate in the co-creation project, and the key contributions it is making in the co-creation project. Please follow the format displayed below:

- Partner 1 : Existing public biobanks and biotech/pharma
. Type of partners : business and public
. Key motivation to participate in the co-creation project : Access to a large diversity of stems cells (highly diversified genetic polymorphisms because of worldwide birth sources)
. Key contributions in the co-creation project : Thanks to our perinatal stems cells sources, they help advance the academic and biotech research

- Partner 2 : Public Health bodies and healthcare dedicated foundations
. Type of partners : public and private non-profit sector
. Key motivation to participate in the co-creation project : To build a core reservoir capacity of treatments for patients (autologous and allogeneic) unlike distinction (who currently cannot be treated) in one of the best protected and less confrontational part of the world (Switzerland)
. Key contributions in the co-creation project : Thanks to our perinatal stem cells’ sources, they help save lives and treat people for whom no genetic matching can be found today (e.g. ethnic minorities)

- Partner 3 : Impact investor groups/Investment funds dedicated to health sectors/Institutional and private investors
. Type of partner : business
. Key motivation to participate in the co-creation project : Both rentability and righteous deed
. Key contributions in the co-creation project : They invest and finance the cord blood stem cells’ collection / process / storage in their country or even all over the world

Impact
Impact: What is the impact of the work to date? Also describe the projected future impact. Please specify using qualitative and quantitative data (e.g. # of indirect and direct beneficiaries); help us understand how this solution truly makes a difference.

Our projects aims to bring together parties as of now in conflict with the others with a clear model of how can a system generate to strengthen and not demolish each other.
CORDSAVINGS can ameliorate the willingness of the cord blood collection with finding financial support for it by a well-established business model that combines all the parties together: from the financial part, the impact investors, from the savings part, the parents and families. In the appropriate collaboration the parties will induce (with co-creation) their activity with resulting success in the increased stem cell collection and furthermore in therapies and research outcomes.

Sustainability
Funding: How is your project financial supported? [select all that apply]

Individuals, Foundations, Businesses, Customers, Investments, Other.

Sustainability Plan: Has your project already reached financial sustainability? If not, what is this solutio’s plan to ensure financial sustainability? Do the main partners have enough stake to sustain the solution? If this project requires limited budget, how will other resources be secured to maintain or grow this work?

Our activity as a new company has already reached the financial sustainability, thought for further miles stones and for the project outcomes it requires individuals and investment sectors’ support.
CORDSAVINGS has already achieved to find collaborator partners as impact investment funds and looking for its private partners and clients to complete our mission. Directly even research groups will ameliorate our activity, but indirectly we count on the effects of the results of the regenerative medicine what will allow our partners to better understand the potential in stem cells’ storage and trust in financial investments.

Team
Founding Story: Share a story about the "Aha!" moment that led the Partners to get started and/or to see the potential for this to succeed.

To support private need and be a part of the social responsibility but with achievement of financial profit for the participants – seams almost impossible to bring together.
With our revolutionary business model in the field of the prosperous stem cells, we succeed to do it.
CORDSAVINGS’ concept combines the private need and justified wish to collect stem cells of the cord blood and boosting the public cord blood registry’s activity to save life. In parallel we offer a financial investment / saving possibility beside the medical investment at the same time.
With our activity we bring together all the interesting role-players, from the investor groups to innovators and researchers, through the family donation and the social engagement, we get the private interest in harmony with the social need with enhancement of all players. And finally we save not just financial value but LIFES.

About the Co-Creation
Barriers: What main barriers may you have encountered to co-create during the creation and implementation of the project and how did you try to overcome them?

It is difficult for the public/academic sector to understand that healthcare is a so espansing sector what requires a large investment for what non of the social security systems are capable to support in the world. Therefore it has become essential to find a new business model in order to attract private investments for the healthcare and find the way out in the public medical need with an accurate solution. Furthermore to have it not only as a direct investment, since this will run out of sources or intend for allocation, but do it on a way what will secure them also as biological assurance and as financial investment.
In summary if we want to be able to continue to treat people and enter new possibilities in the regenerative medicine, we need to harmonize the conversation of the parties.

Governance: What is the type of the relationship between the partners? (e.g. joint venture, contractual relationship, joint project...)

Partners (individuals, parents, institutional or private investors, corporates, biotech/pharma, foundations, public health bodies) in accordance with their respective purposes are all destined to be subscribers and/or beneficiaries of the perinatal stems cells impact funds provided by CORDSAVINGS. They aim to have their donation (what could be both cord blood derived stem cells and financial investment) bring a value and create a possibility for others to benefit of this value. This mutual value will result a strong chain between all participants though they might even realize it.

Interaction model: How is the project a transformative partnership? How is the interaction transforming the partnering organizations and their employees/ leadership in terms of creating a new vision, new management practices, new skills and new organizational structures? Please provide for concrete examples

- Regular biobank employees become highly motivated because for the first time in their sector there is conciliation of general interest targets with financial resources allowing to achieve a great success both on the therapy and financial level

- Give a new sense for the investment sector, who will be satisfied to participate in a program in order save and treat people with the obvious intend to create financial profit

- Reconciling family concerns (my childs and my family first) with public health demand (treat everyone regardless of his possibilities)

How did you find out about this competition?

Being directly contacted by Ashoka org. after announcing the partnership with the leading european cord blood bank, the Famicord

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