Fogarty Institute for Innovation / Chief Development Officer
Position Specification
Chief Development Officer

The Organization

Innovation is the lifeblood of medical advancement and the key to improving patient care. During 2007 in an effort to “find a better way,” internationally renowned cardiovascular surgeon, inventor, and entrepreneur Dr. Thomas Fogarty established the Fogarty Institute for Innovation (FII) as a 501(c)(3) educational non-profit dedicated to mentoring, training and inspiring the next generation of medical innovators. Dr. Fogarty is wholly committed to improving patient care by providing multifaceted support to medical innovators working on promising new therapies. As the typical road to market becomes more costly and difficult to navigate, the Institute offers a streamlined alternative path, along with expert guides to map the way. Dr. Fogarty has dedicated his career to improving patient care through medical innovation and has acquired with more than 165 patents, including the “industry standard” Fogarty Balloon Embolectomy Catheter and the widely used Aneurx Stent Graft for aortic aneurysm. He draws upon his considerable expertise and his relationships with other preeminent physician inventors and business contacts to provide a unique and dynamic environment where viable ideas can grow to fruition.

To carry out their mission, FII offers a multitude of programs, each with a different level of focus and type of support but all with the foundation of helping patients. Through their programs, physicians, engineers, students and other collaborators can learn to successfully integrate their respective disciplines to develop viable ideas aimed at improving patient care. The organization’s status as a 501(c)(3) educational non-profit allows funding via philanthropy, which has been the primary source of its growth to date.

Cultivation -Providing the environment and resources to nurture innovative ideas

The primary program at the Fogarty Institute offers both intellectual and physical resources to early-stage innovators whose ideas have significant technical merit and a high likelihood of benefitting patients. Under their "Innovation: Cultivation" program, the mentorship team selects innovators who are working on devices, therapies or systems that shows technical and functional merit. The Institute provides support for day-to-day operations from business functions to research and development to help them cultivate their innovations and move them closer to deployment to patients. World-class mentors volunteer their time to work personally with these chosen entrepreneurs to earn early proof-of-concept validation that will help them secure seed-stage venture capital, angel or government grant financing.

Since its inception in 2007, the Fogarty Institute for Innovation has received more than 150 requests for assistance from innovators and entrepreneurs. So far, the organization has worked with 15+ companies-in-residence (CIRs) who have received direct, sustained support in the form of facilities, ongoing mentoring by Fogarty Institute leadership and/or seed funding. Several are still developing their technologies, but their success stories so far speak well for the process, and the organization is constantly honing the program to evolve with the needs of their applicants. Since October 2007, three CIRs (HeartFlow, PQ Bypass, and Niveus) have achieved A-round investor funding and “graduated” from the Institute. The Fogarty Institute currently supports 13 CIRs. Several of the current entrepreneurs are focused on improving patient care in the Maternal and Early Life space including a device for prevention of maternal injury during delivery, a device for prevention of post-partum hemorrhage, a pre-natal monitoring system during labor & delivery, and an endoscope for diagnosis and treatment of fallopian tube dysfunction, among others. Other areas of focus include cardiovascular, electronic education and simulation and ___. Increasingly, large medical device companies, primarily Japanese, are partnering with FII to support the medical technology innovation and the work of CIRs.

Validation - Streamlining the process for clinical research

Clinical research is a vital step in the advancement of novel treatment options, yet the typical path for research in an academic setting is often circuitous and slow moving. With Fogarty Clinical Research, Inc.(FCRI), the Institute’s goals is to offer a multi-disciplinary environment for clinical research that provides an efficient alternative in which to cultivate local, original clinical investigation. In March 2011, thanks to a generous contribution from Los Altos Hills residents Edward and Pamela Taft, the Taft Center for Clinical Research was opened. The Taft’s gift was given with their expressed desire to create a community hospital-based setting for important clinical research in oncology and cardiovascular disease. With their support, Fogarty Clinical Research, Inc. was started to provide the infrastructure and staff that enables a unique relationship between the Fogarty Institute for Innovation and El Camino Hospital. The current portfolio of clinical trials cultivates both local, original clinical investigation and industry sponsored trials. At the Taft Center, clinical trials are currently being conducted by Fogarty Clinical Research, Inc. which strives to assist physicians in the El Camino Hospital community to perform research trials on novel new drugs and devices giving patients access to the latest technological advances to treat disease. The staff at FCRI is experienced and highly skilled, with many years of expertise in successful clinical trial management organizations. Their expertise coupled with proven track records have enabled the Taft Center to rapidly undertake management of several significant trials.

Education - Sharing our experience with the broader medical community

Innovation is fueled by collaboration and the esteemed mentorship team shares their valuable experience with the broader medical community to foster more interest and success in medical innovation. FII is developing programs and curriculum aimed at sharing its successful experience with the broader community. Educational activities include medical fellowships, internships, events, and roundtable discussions that cover important topics in the area of medical innovation. The Advanced Endovascular Fellowship program is providing post-doctoral training to promising young physicians who seek advanced education, clinical training, and opportunities for clinical research in all aspects of vascular disease. The one-year fellowship offers specialists in cardiology, interventional radiology, vascular surgery, and cardiovascular surgery the opportunity to broaden their knowledge using a “Head to Toe,” multidisciplinary approach that provides the skills necessary to provide optimal care to patients with complex vascular disorders. Fellowships and Internshipsat the FII are thriving! Be it by working with international companies, or local high schools and colleges, the organization is creating a forum to inform and mentor students wanting to enter the extraordinary world of medical innovation; by becoming physicians, bioengineers, clinical research professionals or medical innovators. In an environment that is creative and collaborative, interns will learn from, work with, and network among Fogarty Institute professionals. Interns are given access to industry experts and senior leaders to assist and help guide their career choices in an informed manner. Fellows and interns participate in shadowing programs while working on meaningful projects with Institute affiliates. In this truly unique program, participants gain exposure to the interfaces between the inventors, physicians, and everything in between--lawyers, engineers, regulatory consultants, investors and apply this knowledge to their future career decisions.

Facilities

Located on the campus of El Camino Hospital, the Fogarty Institute for Innovation includes wet and dry laboratory and engineering space, offices, conference areas, and teleconferencing capability where physicians and engineers collaborate as well as support staff. Their location and relationship with the hospital gives participants access to state-of-the-art equipment, technology and an environment that was designed for collaboration. Their presence on the El Camino Hospital campus facilitates collaboration with expert physicians who run busy clinical practices, providing the perfect environment to discuss problems and potential solutions to the clinical challenges today’s physicians face. Over the years, the organization has benefited by the generosity of El Camino Hospital and today occupies 19,000 square feet on its campus including administrative offices and Fog Shop (incubator facility with lab and engineering space).

Current Funding Avenues

El Camino Hospital has been a key and consistent supporter of FII since the Institute was founded in 2007. Often partnering on fundraising events and philanthropic support, the hospital provides office and lab space on the hospital campus and marketing and public relations support, contributes to FII educational programs, and partners through a contract for clinical trials management services with FCRI. The proximity to a world renowned hospital and its physicians is one of the aspects of FII’s location that sets it apart.

In 2013, FII partnered with California Healthcare Institute (CHI) and the PwC Charitable Foundation, Inc. to create The Lefteroff Fund. The Lefteroff Fund was created to honor the work of Tracy T. Lefteroff, a partner at PwC who passed away during June, 2013, for his legacy of commitment and dedication to entrepreneurship in the life sciences industry. The fund provides educational scholarships, grants and instructive opportunities to promising entrepreneurs and medical projects in the life sciences industry. The Lefteroff Fund is housed and administered by FII.

Support

The Institute is a 501(c)(3) educational non-profit that relies on charitable donations to carry out its critically important mission.

For more information, consult the Web site:

Opportunity and Summary of Position

This is an exciting time to be part of the Fogarty Institute for Innovation. In the past few years, the Fogarty Institute has established itself as a unique 501(c)(3) educational organization that provides support, training, and mentorship to several medical device innovators. In many ways, the organization itself is an early stage organization, displaying the same entrepreneurial drive that characterizes its portfolio medical device companies. The Fogarty Institute has built its management team, grown to 15 employees with a $4.5 million budget, and has an outstanding and engaged Board of Directors. It has developed its Innovation Cultivation program including recruiting, selecting, and mentoring companies and a robust clinical trials program through The Taft Center for Clinical Research. To date, the organization has been successful in raising approximately $12 million in donations and grants to support its programs, the majority coming from a wide network of friends and family. The Fogarty Institute has now reached the stage as an organization that it seeks to formalize its fund raising function by hiring its first Chief Development Officer to enable it to grow and expand its programs and impact.

The Chief Development Officer will be responsible for organizing and building the development department and function. He/she sets strategy for the development function, personally raises funds, leads fundraising activities and initiatives, and increases the prospect pool, ensuring visibility of the Fogarty Institute locally, regionally, nationally, and internationally.

The individual will provide leadership regarding the overall planning/feasibility of an endowment campaign. Although Fogarty Institute’s fund raising efforts are separate and independent of El Camino Hospital’s development department, he/she will play a critical role in ensuring that there is communication and a strong working relationship with the hospital if there are opportunities to work together for mutual benefit.

Reporting Relationships

The Chief Development Officer reports to Ann Fyfe, President & Chief Executive Officer and works closely with Dr. Fogarty, Board of Directors, and the leadership team.

Goals and Objectives

In order to be considered a success in his/her first 12 months, the new Chief Development Officer will be expected to achieve the following:

  • Assess/evaluate/analyze Fogarty Institute’s current fund raising activities.
  • Build, develop, and formalize the development function at the Fogarty Institute including planning and implementing the required infrastructure, systems, and processes to ensure and sustain the effective operation of the fund raising function.
  • Raise funds for general operations, build endowment options, expand the current donor base across multiple sectors, and increase partnerships consistent with the expanding programs and services of the Fogarty Institute. It will be important to broaden the Institute’s fund raising opportunities.
  • Work effectively with the President & CEO, Dr. Fogarty, Board of Directors, and management team members, assisting them in the identification of interested donors and helping them to articulate the case for support of the Fogarty Institute. In addition, continue to enhance working relationships and collaboration with the El Camino Hospital Foundation.
  • Serve as a close partner and resource to the President & CEO relative to her fund raising responsibilities and activities. Provide focus and prioritization for fund raising efforts.
  • Expand the focus of fund raising beyond the Fogarty Institute’s current donor base. Increase the current level of major gift , corporate, foundation, government grants, crowd funding and other potential funding sources with the goal of raising $5 million annually.
  • Assist the President & CEO, Dr. Fogarty, and the Board of Directors in long range planning for fund raising. Develop and implement, following approval, one-year, three-year and five-year fund raising plans with stated goals and objectives. Collaborate with the leadership team to align philanthropic efforts with the Institute’s strategic plan.
  • Provide leadership and counsel regarding the feasibility, readiness, and capacity for a future endowment campaign. Assuming go ahead, this position will be responsible for day-to-day planning, coordination, and management of the campaign.
  • Develop and implement a stewardship program aimed at cultivating deeper ties with donors. Fully engage donors and give all consistent feedback on the impact of their gifts. Improve stewardship, donor communications, and relations with existing donors. Renew relationships with donors who have contributed in the past, but who are no longer actively involved.
  • Prepare and implement the budget for the development function.
  • Build upon and grow FII’s culture of philanthropy throughout the organization.
  • Develop reporting metrics to assess performance, progress, and success of development initiatives and campaigns. Monitor and communicate results on a regular basis at staff meetings and with board members.

Candidate Qualifications

The ideal candidate will be a seasoned, accomplished, and highly skilled fund raising executive who can provide strong and innovative leadership and management to organize and provide strategic and operational direction for the development function at the Fogarty Institute. He/she will bring vision and strategic perspective to the position and the ability to be a visible, hands-on, engaging, and trusted partner with the President & CEO, Dr. Fogarty, board members, staff, entrepreneurs, researchers, funders, volunteers, business and community organizations, and all internal and external constituencies.

Education

  • A Bachelor’s degree is required; a Master’s degree is strongly preferred. Education related to healthcare and biomedical research is a plus.

Experience

  • At least ten years of progressively responsible fund raising experience in the not-for-profit sector.
  • Previous experience raising funds for healthcare causes is extremely helpful. Experience in organizations such as research institutes, schools of medicine, academic medical centers, large and complex community hospitals, and higher education institutions will be strongly considered.
  • Commitment to and passion for the mission of the Fogarty Institute. Ability to clearly articulate the vision of the organization to potential donors and have the experience, skills, political savvy, and credibility to represent the organization to all constituencies. An appreciation for the ability and potential of innovative medical devices and technology to impact and improve patient care. Strong desire to help entrepreneurs to become great innovators and succeed.
  • Capable of organizing, leading, and growing the fund raising function including building staff, programs, infrastructure, and key relationships.
  • Familiarity with the Silicon Valley and San Francisco Bay Area donor base is highly desired.
  • Ideally, have a successful track record of leading a capital/endowment campaign.
  • Thorough knowledge of comprehensive fundraising techniques including major gifts, annual giving, events, and planned giving programs is required.
  • Demonstrated ability to personally raise significant funds. Able to relate personally to major donors. Able to engage a diverse pool of prospective donors.
  • Previous experience developing relationships and working effectively with a Board of Directors for fund raising purposes.
  • Financial management and operations experience; familiarity with systems, analytics/metrics and infrastructure of a successful development operation including knowledge of databases, laws, and policies covering fundraising, planned giving, tax implications, budgeting, and efficient cost of raising funds.
  • Successful track record of creating a culture of philanthropy in an organization and taking fundraising to the next level.

Personal Characteristics

  • A self-starter, facilitator, organizer and innovator. Brings an entrepreneurial style to the work. Open-minded, flexible and willing to pioneer new approaches.
  • Professional demeanor; poised, polished, confident, and sophisticated.
  • Outstanding interpersonal and social skills. Down-to-earth, outgoing, engaging and visible, both within the organization and in the community. An effective ambassador to the community.
  • Excellent communication skills, both verbally and in writing. Ability to listen. Able to articulate a compelling vision and communicate effectively with a variety of audiences and able to interact positively with donors.
  • High energy level, commitment, and strong work ethic. Enthusiastic with a positive outlook.
  • Strong strategic skills; a visionary who sees ahead clearly and inspires others.
  • Exhibits maturity, good judgment, character and exceptional integrity.
  • Pursues a high standard of excellence and expects accountability.

The Community