“Swanson’s experience as a venture capitalist had centered on young Silicone Vally companies, each with products that had been prototyped and were nearing or on the market. Genetech presented a very different situation.” – Hughes (49)
The unfortunate reality, is that in order to conduct experiments and discover new things, you need resources, and resources are funded by money. Thus, in order to conduct experiments and move forward with your endeavor, you have to have funding; money.
The way in which most scientists go is that they search for investors that would be willing to sponsor and fund the project. the scientist(s) will then show this investor what they are working on and their current progress. However, earning the funds from venture capitalists has become increasingly difficult as the years have gone on. The competition is higher and there are simply more people looking for investors. It helps promote a higher level of discovery, but many groups projects get out on fault until they find someway to pay for their projects.
An alternative is to apply for a government grant. The government grant is something that scientists don’t necessarily drool over, but its something to get the wheels off the ground. Since its a government grant, it isn’t as efficient or lenient as a venture capitalist but again, its money that these groups of scientists need to move forward.
But go into the mind of a scientist, how would you like to be funded? Most people would answer venture capitalist. But whats the significance? Well, the significance is that Genetech had no prototype or model.In todays society it would be impossible to receive funding this way, however the guys at Genetech managed to earn money for their incredible work without having a tangible model to show what they were trying to accomplish. Its remarkable really. But, the important thing is that were able to somewhat avoid this difficult process of putting their project on hold to receive funds. They were still at the first stage of discovery so they were able to just hit the ground running with money, and go from there. Very unique situation.