The foundation is currently looking for new firms in the life sciences space for potential allocations. Although they do not have a set number of firms they wish to allocate to over the next six to nine months, they typically will provide capital to around 20 firms annually. With that being said, they will allocate to a number of firms over the next 6-9 months if some compelling opportunities are uncovered. Currently, the foundation is most interested in the biotech space, specifically in firms focused on environmental biotechnology. In particular, the firm is seeking firms that are developing anti-pollution or waste remediation technologies.
The foundation is only looking for companies that are pre-revenue, and thus provide seed funding to these. The foundation is willing to provide up to one-third of the capital required to develop the technology. However, they must demonstrate that they will be able to obtain funding for the remaining two-thirds of the financing.