Impact UK: Success is a science
We interviewed Richard Ross as part of Impact UK: The sizing and the story of the impact economy.
Richard Ross and his family charity, Rosetrees, have spent 37 years financially backing the nation’s most brilliant minds in pursuit of medical breakthroughs.
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In 1987, Richard Ross created a small family charity, Rosetrees. He didn’t know it then, but that gesture would become his life’s work—a mission that’s driven him every day since.
Today, at 83, Richard still works full-time at Rosetrees without taking a penny in pay. ‘It’s the best job I’ve ever had, hearing about amazing new medical research ideas,’ he says.
What began as a tribute to his parents, Nat and Teresa, has grown into a powerhouse of medical research funding, supporting more than 3,000projects and helping some of the brightest minds in science push the boundaries of what’s possible. And through it all, Richard has been there—meticulous, curious, and utterly devoted
The Spark
We started the charity to celebrate my parents’ golden anniversary. We had no focus until 1990 when Professor Begent asked us to support targeted cancer therapy. He said, ‘I believe it’s better to give treatment just to the part that has got cancer, not the whole body. ’That made sense—so we backed him. That decision changed my life, because my next thought was, ‘Let’s make medical research our focus.’ The way I look at it, medical research is the only charity that benefits everyone in the world.
The Choice
After my father died in 1990, I had to spend more time in the business, so I could only find an hour or two a week to meet a professor. Now we’ve got a very small, dynamic, scientifically skilled commando team that runs Rosetrees. We have an advisory panel of top scientists, and they tell me the best thing we do is seed-corn funding—37 years after our first grant.
I discovered: ‘No data, no grant. No grant, no data.’ If a researcher didn’t have the data, they couldn’t get funding, so there were lots of very smart researchers who had really good ideas that couldn’t be tested. In response, we created a ‘venture philanthropy’ approach—putting up money for someone to research a good idea, which may or may not work.
We discovered that if a researcher didn’t have the data, they couldn’t get funding, so there were lots of very smart researchers who had really good ideas that couldn’t be tested.
The Impact
We’ve supported more than 3,000 projects over the years, and we’ve got 340 projects currently running. The problem with medical research, though, is that it’s not like putting up a building. What we do is put bricks in a massive wall. There’s no glory in it. You can look at the wall from a distance and say, ‘I put up a chunk of that wall,’ but it’s pretty hard to identify.
Years ago, I read about a brilliant young researcher at Imperial College who was being made a professor at just 30 years old—an extraordinary achievement. We met soon after and decided to back her work. Two decades later, Professor Molly Stevens is now Dame Molly Stevens, recognised as one of the nation’s leading medical scientists. We’ve been proud to support her throughout that journey.
Many researchers tell us we ignited their career by providing grants no one else would provide. For the last 15 years, we have been supporting Professor George Hanna, who believes he has discovered a breath test for early oesophageal cancer that could save 90% of those who die from it. George said our grant made his research possible.
The Future
We spend all our income every year and some of our capital. So you don’t need to be an accountant or economist to know you can’t do that forever—we’re actually spending ourselves out of existence. The Rosetrees team is so good it now runs without me, so I’m looking out for other things to do. The Financial Times had an appeal for children who go to school without breakfast, and I thought that’s horrendous. I’m now exploring the creation of a separate subdivision to help children who want a career but don’t have opportunities to make something of their lives. If I can help, that’s much better than being retired.
Emotional ROI
Happiness is finding something to do in life that is so absorbing that you’re not aware of the time. As far as I can remember, I just arrived here Monday morning and I have no idea how it got to Friday afternoon. Most people value material possessions, but I enjoy challenging my mind. Hearing professors explain in lay language what they do to benefit our health is amazing.
Giving Forward
If you want to start being charitable, pick something you’re genuinely interested in—dogs, humans, whatever it is—and start.
Become engrossed and you will find something so absorbing that you’re not aware of the time.
Involve your children; get them to understand what you’re doing and why. If you have an affluent lifestyle, it will help hem understand the needs of others.
Share your expertise as well as money. It costs nothing and can materially improve a charity.
Allow donors to discover the joy of philanthropy; don’t chase too hard for the money. Ask for some of their valuable time to see the work. Once they see it, they may get involved. Include their family, as it may enhance all their lives.
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