German innovation agency makes a case for new funding model for innovations with high societal value but big financial risks
Photo credits: casezy / BigStock
The economic costs of global epidemics would largely be mitigated if governments could find new ways to fund innovative antivirals, according to research by Germany’s innovation agency Sprind and economists at the University of Chicago.
Academic research shows that during the COVID-19 pandemic in 2020, gross domestic product in Europe fell by an average of 7.4%. Other studies show the cost of quarantines imposed during the pandemic exceeded 9% of the global GDP.
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