While grants have been the main tool foundations use to support drugs and diagnostics for the developing world, they can be an inefficient use of capital. BIO Ventures for Global Health believes its milestone-based prize for a point-of-care diagnostic to determine the cause of a fever could give foundations a bigger bang for the buck.

In June, BVGH announced plans for its Global Health Innovation Quotient (IQ) Prize to develop a multiplex POC diagnostic that would be able to distinguish between malaria and bacterial and viral causes of fever, and could be easily used in the developing world.