BioMed Center Innovation is a not-for-profit enterprise, that means a company whose income is generated only to a very limited part by economic activity, but mainly from donations and non-profit funding. All revenue serves for the purpose of public benefit, in this case scientific research.
The management and administration is done by employees and organized so that the cost for it remains as low as possible. Currently the founder Daniel Seitz, who is working as a research scientist on funded projects within the institute, works as CEO in sideline. The administrative cost of BioMed Center Innovation is always kept below 30% of total cost.
A non-profit association officially registered as of benefit for the public, Förderverein BioMed Center Innovation e.V., acts as sole proprietor and supports the work of the institute. A proprietor of a non-profit company does not receive any profit or compensation. The purpose of BioMed Center Innovation is research in the medical field, with a focus on application-oriented research and the objective of producing applied results for the benefit of the patient. To reach this goal, the institute maintains a broad network, from regional to international, of cooperation with scientific, medical and industrial entities and personalities. Within the region, the specification and network is unique and important for generating new ideas, validating approaches and realizing new research projects.