A The Sector Case Study: Let’s Get Proof
Seeding Medical Research via Crowdfunding & Social Finance
Let’s Get Proof’s mission is to bring proof to researchers, allied healthcare professionals, funders, and patients all over the world. In 2022, the platform was launched to maximize efficiency, inclusion, and impact in medical research by combining peer review, open-source contribution, and crowdfunding.
This enables innovators in medicine to find the expertise, insight, and funding they need to make their projects a reality. Medical research funding is an inefficient, slow, and biased process. 80% of applications for medical grants are unsuccessful. Feedback from patients or stakeholder groups is not taken into account. And even when attained, disbursement of funding can take years.
Let’s Get Proof provides an alternative. It was designed and built by medical researchers and innovators who saw promising ideas suppressed by red tape and bureaucracy inherent to the field. The team believes that no set of institutions has a monopoly on “great ideas” — innovation is the product of diverse voices coming together.
Meet the Founders
Dr. Rosalie McDonough, CEO and Co-founder
Rose has always been inspired by the combination of hard work and serendipity that drives scientific discovery. She followed this passion to build a career as a research physician. Rose has spent many years working in some of the world’s foremost medical research environments — working alongside leaders in stroke, neuroradiology and cardiovascular research throughout North America and Europe. This gave Rose a deep understanding of what it takes to bring a new treatment or therapeutic from concept to creation.
Partnering with Dr. Mayank Goyal, Rose has shifted her focus to creating a platform that will facilitate the next great ideas in medicine, by creating the conditions where hard work and serendipity can yield transformative results.
Rosalie received her MD from the University of Hamburg, where she graduated Magna cum laude. She received a MSc in Biology from McGill and graduated with honors from the University of New Brunswick.
Dr. Mayank Goyal, President and Founder
Mayank is a Clinical Professor in the Department of Radiology and Clinical Neurosciences at the University of Calgary and a Diagnostic and Interventional Neuroradiologist at Foothills Medical Centre. He is a widely respected, cited and published clinician-scientist: a leading voice in stroke research with over 300 publications in peer-reviewed journals.
Mayank founded Let’s Get Proof, formerly Collavidence to fulfill a longstanding dream: a collaborative, global platform to increase the efficiency and funding of high-quality, high-impact research. Mayank is intimately acquainted with the drawbacks of the current systems: from the gatekeeping faced by early-career researchers to the countless layers of red tape faced by trialists looking to produce meaningful research. He hopes Let’s Get Proof will empower researchers who have felt resistance to their “out of the box” ideas, and open the floodgates for true global collaboration in medicine.
The Sector
The Sector team has worked with Let’s Get Proof to develop and impact investor relations strategy and capital raise. Over the coming months LGP shall adopt a blended finance approach to developing its desired capital structure. Working with private donors, institutional funders, impact investors, and strategic partners. The Sector & LGP will work together in ensuring that the appropriate ecosystem is developed around this venture to enable the developing Canadian Social Finance Ecosystem to scale this timely and disruptive social innovation.