About Funding Strategy
In 1993, PCF created a Competitive Awards program that revolutionized the evaluation and funding of prostate cancer research. Fortune magazine credited PCF with creating the “modern venture philanthropy” model for cancer research—citing the transformative power of PCF’s short grant applications and rapid funding.
“Human capital is our most precious asset in the fight against prostate cancer. Nurturing and perpetuating promising careers has become the most difficult of our many challenges in the current funding environment.”
– Dr. Jonathan Simons, PCF President, Chief Executive Officer and David H. Koch Chair.
The awards empowered many young scientists to fill the pipeline with new diagnostic and therapeutic tools. More than 20 clinical trials involving better diagnostics and new treatments for advanced prostate cancer came about through PCF research awards.
After careful evaluation by more than 40 experts in prostate cancer research and biotechnology, PCF revised its investment strategy in 2007. The goal: to build on past successes and further accelerate the development of new therapies and the discovery of new information.
PCF Research Principles
- Identify the most promising research not being funded
- Recruit the best scientists to energize the field
- Limit award applications to five pages
- Make award decisions within 60 days—fund them in no more than 90 days
Our new strategy includes numerous funding programs. They have their own goals but are designed to work together. Most importantly, they are designed to be scalable and self-perpetuating.
- The PCF Human Capital Initiativeincludes two awards that aim to identify and support the next generation of visionary young investigators—a task made even more crucial by recent reductions in government funding:
- Recognition Awards support investigators not currently funded by PCF for their outstanding accomplishments in prostate cancer research.
- Young Investigator Awards offer career support for young, proven investigators who have already achieved faculty positions and are committed to prostate cancer research.
- PCF Creativity Awards support the development of high-risk, high-reward ideas.
- PCF Challenge Awards make larger investments in multi-year projects that have high transformative potential for areas of unmet need in prostate cancer research.