The TED organization, whose slick online video presentations have helped thousands of scientists and other thinkers reach huge audiences and potential financial backers, has jumped into the funding business itself. Last week, TED’s Audacious Project announced its second cohort of grantees, who will each receive tens of millions of dollars from donors. Among them are teams working to design improved proteins, eradicate parasitic diseases, and develop plants that counter global warming.
David Johnson, a sociologist who studies trends in scientific funding at the University of Nevada in Reno, compares TED’s funding strategy to stock market investing. “In investment portfolio terms, federal agencies like the National Science Foundation and National Institutes of Health are like [an] index fund with diversified investment in science [whereas] Audacious is taking it to an extreme by making major investments in a few blue-chip scientific stocks.”
This second funding round began when the organization put out a call for proposals, asking for just a few hundred words describing an idea and its scope. It received about 1500 initial applications. Officials within TED worked with a philanthropic consultancy called the Bridgespan Group in Boston to narrow that batch to a short list.