Definition:
A public-private partnership (PPP) is defined as a collaborative agreement between a public sector entity and a private party to manage, advance, or finance a project with public value.
PPPs are typically used to deliver projects that would otherwise be delivered by the public sector, with increased efficiency and quality. Common areas for public-private partnerships include healthcare, public infrastructure, water and sanitation, energy, and education.
In R&D, public-private partnerships typically involve pharmaceutical companies and government health agencies/academic institutions. These partnerships aim to facilitate drug development, advance research, provide financing or share the risks between the partners.
More information:
Tags: