Naji Gehchan: Welcome to SpreadLove in Organizations, the healthcare leadership podcast where we explore leadership with purpose.
I am Naji your host. Joined today by Elisabetta Vitali, executive Director of the Giovanni Armenise Harvard Foundation, a role she has held since February, 2025. After more than a decade of leading the Foundation’s Italian program.
The foundation’s mission is to support world class scientific research and foster collaboration between Italy and the United States. Before joining them in 2014, beta built a successful career in investment banking and infrastructure finance. She served as vice president at Lazar and Co, where she advised leading European corporations on mergers, acquisitions, and complex cross-border transactions.
Totaling more than 3.5 billion euros. She later joined a EDS supporting the firm’s international expansion and fund management strategy and became one of the investment partners as, um, at F two i’s SGR Italy’s largest infrastructure fund. When she oversaw major transactions, contributing to a portfolio, exceeding 2 billion euros.
Drawing on her financial and strategic background is Abeta transitioned on the nonprofit sector. Where she has since applied the same rigor and long-term vision to advancing science excellence and collaboration across Boston and Italy, a graduate of Boone University with full honors in economics and social disciplines.
It is Abeta is known for her ability to connect people and ideas across sectors and borders and commitment to translating strategy into lasting impact for science and society. Beta, it is great to have you with me today and see you again.
Elisabetta Vitali: Thank you Naji, for having me. It’s always great to have the opportunity to talk about the foundation’s work
Naji Gehchan: before going there.
I always love starting with the person behind the role. Uh, what’s the story of how you find, uh, your way, how you found your way, uh, to this work?
Elisabetta Vitali: It’s, uh, it’s, it has been. Really by chance in a way, and thank to a friend who knew me very well. So when I decided to, um, stop working in finance and, uh, uh, dedicate my my days just to.
I mean to, to the care of my daughters, which is not a small task. Uh, he, um, after maybe two months that I was doing that, he told me, you cannot do this anymore. And he, um, brought to my attention the foundation, and I have to say. It was really, I felt like, you know, destiny was, uh, in front of me in a way because I, um, I had been sick previously in 2008 and I always felt I had a big, uh, um, that towards scientists and physicians and the science in general really.
I’m also a daughter of a chemist who, um, dedicated this work in, uh, creating new drugs and, and, uh, medication. So it was part of my, um, family history and also, you know, um, when you, um, emigrate. You sort of become weirdly more attached to your country of origin in a way. So the foundation combined these, um, two unique perspective of me being able to try and give back to science, even though of course it’s that I will never, you know, completely, um, you know, fulfill of course this mission.
And, uh, uh, also, uh, do something to. Keep contributing in building growth, economic growth, and scientific growth in my country of origin. That is Italy.
Naji Gehchan: So I’d love to, uh, kind of double click and build on this, uh, especially moving from finance, as you said, and running multi-billion, uh, dollar acquisitions, funds, et cetera.
Uh, what, what are the moments or choices that most shaped your journey from finance to now? Philanthropy and science?
Elisabetta Vitali: It was gradual, and I didn’t even. Understand that I was going to do that because I, to be honest, I, I really loved my work in finance and I, I, I guess I’m a very lucky person, so I was always able to, uh, to do, uh, something I was very passionate about and I, it was very rewarding for me.
But when I moved to the US in 2009, I had just recovered from my disease. I mean, I, I’m, I’m lacking and I have a couple of very rare diseases, but there is a treatment for all of them. So I guess I’m, I’m really lucky. But of course, it was the first time that I got sick. And it is, I guess, true that when you are.
Sick. I’m also a very dramatic person, so it wasn’t nothing maybe that serious, but you know, it gave me the opportunity to, um, to slow down a bit and really try to see what I was also missing about my daughter’s life. I know it, it’s, it’s pretty standard, uh, story, but I really, I really enjoyed going to work every day.
I thought I was doing the best things for my daughter, which I think I did, but also it wasn’t enough anymore, so I thought, uh, I wanted to still be able to serve right. I outside my family too, but I wanted to have more time to, to try to balance everything a little bit more. And so that I was part of it.
And, and to be honest, I always enjoyed this perspective of, uh, contributing to, um, of course to my own wellbeing. But I always saw, even when I was in finance, in private equity, I thought we were actually bid something that would impact. More people, right. Contributing to economic growth. That to me, it’s sort of the baseline for freedom and, and, uh, equity and everything.
So weirdly, I thought I was already doing social works while I was in private equity. Maybe a bit less in mergers and acquisition, but definitely in private equity. So when, uh, I got to know the foundation more. It just, I was, without even knowing it, that was exactly what I needed. And I would be remiss, I, if I wouldn’t, um, say, you know, that a big part of it was also my, um, former boss Lisa Mayor, who, uh, being, um, so honored to work with for over 12 years.
She is a very, um, competent. Knowledgeable, personable, um, individual. And she really, um, we really clicked. So it was, uh, a fortuitous but very, um, you know, meaningful encounter for me.
Naji Gehchan: So let’s go now into the foundation. ’cause you, you’re sharing how meaningful that was as a shift, uh, and how you found yourself basically.
And now you’ve been more than 10 years and now running the foundation. Tell us a bit, a little bit more about what drew you to the mission, uh, and what keeps you inspired today, uh, through the work you do.
Elisabetta Vitali: Yes. What drew me to the mission, as I said, was. Part, uh, in part the memories of my father who was, uh, always involved in, uh, drug discovery and development.
So, um, you know, it was always in my purview. Since college, I would say, you know, my, uh, thesis took graduation thesis was the, um. Selection process for r and d projects in, uh, in, uh, biotech and pharma. So I, I think I was always interested in that. Uh, but really also my experience as, uh, with my disease and the, um, really the understanding of, uh, how, you know, discoveries can really.
Change the destiny and the faith and the wellbeing of people even I know, you know, it was clear, but it’s a different, for me, it was very different to really experiencing it on my own skin. You know, at the time when I, I was, I got sick the first time. Um, my kids were really young. As I said, I’m pretty dramatic.
So, you know, I, I am, I was really scared about not being able, you know, to be with them and to see them grow and, and all of this. And so the sense of, uh, of, uh, having to give something back to, uh, the scientific community really resonated with me. And then the more I got to know, uh, the scientists themselves, not only our grantees, but all the scientists were a part of our review committees.
And I just fell in love with the humanity of, uh, each of them. And so, and when I see also, um. You know, in Italy, uh, scientists are really mistreated in a way that, uh, as in many other, um, profession, but especially in science and university, the personal compensation of, of scientists is really, um, very, very limited.
The um. Career development opportunities are also, um, sparse, I would say, because of a system that is pretty, you know, uh, let’s say we can work on meritocracy. And so, uh, when you see the dedication these, these people have and uh, um, the passion they put in their work. I really felt, you know, I really wanted to have them out as much as possible.
So it was a, it was a combination of self, um, um, you know, just this sense of gratitude towards science and scientist, and then really falling in love with our communities.
Naji Gehchan: Well, this is, this is great. So can, can you help, um, the listeners understand a little bit more? I know you’re eager also to share more about the foundation and the work you guys do in research.
Can you tell us a little bit more about that?
Elisabetta Vitali: Of course, the beginnings of the foundation are already rooted in a laugh story, I guess even with a one with, with a, a said ending, unfortunately. The founder, Giovanni Aletta, um, came in contact with the Harvard Medical School 30 years ago to be precise because his, um, spouse was affected by a glioblastoma and after seeking treatment, uh, everywhere in Italy and in Europe, they landed in in Boston.
And uh, and unfortunately they had to. They had to, um, realize that not only there were no treatment available, but there wasn’t really the, the basic understanding of how the disease was, uh, working, how it was generated and, and all of this. And in his, um, that there, I would say generosity and, uh. Vision, they found the main team themself to have the, the clarity to, um, launch a partnership with Harvard Medical School to fund the basic science research, both at HMS and in Italy.
Having understood that without the really the basic understanding of these, uh, biological processes, there is really not much progress that could be achieved. And so, um, everything started because of a personal, uh, struggle anyway. And, uh, it is really fantastic to see that 30 years later. We were really able to, um, make this dream.
The desire of our, uh, founder really, um, come to fruition and become a reality. And so the way we do that. Is through different grants and and program. Some of these programs are dedicated to scientists who want to, uh, base themself in Italy. And some of these programs are, uh, dedicated to scientists at Harvard Medical School.
But in any case, we are focused on basic science, which as you know, probably better than me, it is the hardest to fund because it’s so, um, this socalled curiosity driven. It’s, it’s a very high risk, high reward. Um, kind of, uh, research and therefore it’s very difficult to find other subject ready to, to sponsor it because it’s very unlikely that it will come to any commercialization or, um, produce, um, at least in the near future.
Any, um, economic results. However, as our, one of our scientists like to say. Without investing in basic science, we’re basically trying to build the skyscraper starting from the roof, which is. Clearly not a very good idea. Right.
Naji Gehchan: It’s so true. And, and towards this, obviously the important of, uh, as you were saying, like basic research, early science, uh, how, how do you think through the foundation and also the teams about the impact.
Uh, when, when it’s, you know, because one of the things when, uh, you are leading organizations and teams, certainly everyone want to see the impact they bring, uh, to science, to people. You’re driven by helping the humanity, as you said earlier on.
Elisabetta Vitali: Yes.
Naji Gehchan: Uh, when, when these, these researchers will take years to show results and impact on people.
I’m wondering how, how do you keep. Your people and the foundation engaged towards this long-term vision of improving medicine?
Elisabetta Vitali: Well, at the foundation we, that it’s really our mission as, as you probably know, that also the mission of our medical school. So internally there is no struggle in explaining why we have to keep doing this, but also we are truly encouraged, for example.
On the, um, if we look at the Italian side of things, or maybe we have the most, uh, impactful program because we have this, we call it this career development award that we, uh, give to a scientist, um, at the beginning of their career as principal investigator. So, you know, while they’re transitioning and they could be, uh, scientists of.
They could be everywhere in the world, but Italy and could be of any nationality. And so we only ask them to move to Italy to start their own lab book, which, so, you know, it adds a, a little bit of a, of a step there. But, you know, um, we, so we try to, to track the results and of course it’s not as easy to say, okay, let’s see how many, um.
Uh, discoveries you were able to bring from, uh, bench to bed. So we use the, you know, usual sort of, I guess we can call them KPI, like, for example, we have invested around $36 million in this program alone. And our, um, scientists collectively since the, since the day each of them. Um, started their lab in Italy have collected so far over 120 million euro of additional funds.
So it’s a good, uh, return on investment. But, and also we, um, they have, uh, you know, um. Touch the life and train so many postdoc and PhD students and master students at any given time. They have, uh, um, at least 250 people working in their labs. But if you think about all the people that transition to their lab, you know, we are talking at least by factor of 10 times.
So we are really, um, creating an impact. And of course we measure. Scientific, uh, uh, production, you know, impact factor, these kind of things, but always with a grain of salt because, you know, yeah, they might, this indicator might have a limited, um, a limited, um, significance, but also something that it’s really important for, for the Italian side that we, um, we like to think, we used to, like to think about.
Them as our good viruses. Of course, it was better before the pandemic. Now we don’t call them the viruses anymore because we really want them to sort of, um, infect the Italian system and spread and fertilize the system with everything they learned abroad and, and, uh, things like that. So, one other indicator that we.
Monitor is how, um, well they develop their career in Italy and for example, so far we have brought, um, to Italy, 37 scientists with this program. And uh, only two of them have left Italy, um, at the end of our grant so we can, so, and the other 35, they’ve really established themself in Italy. There’re some of them are.
Not yet, as you can imagine, because, you know, we have been doing this for 30 years. Actually, this program only started in 2001. But you know, it’s been, um, um, you know, so we have scientists who, who are been, who have been part of the foundation since they were, uh, junior PI and now they’re well established, head of department, you know, dean of research and things like that.
So. We feel strongly we’re really achieving our goals. Basically. This is obviously this is great. We can always do better and we will always try to do better and more.
Naji Gehchan: So are, are, is the research. Um, and, and thanks for sharing the story of behind the Foundation and, and this, uh, very hard and terrifying disease, glioblastoma, uh, the research started in glioblastoma.
Are you now more diversified or are you still focused on tracking this disease?
Elisabetta Vitali: No, it was always basic science in general, and it, you know. It’s rooted with the, um, we are generalists basically. So we have, uh, a little bit as Harvard Medical School has, you know, seven, yes, 11, but let’s say seven departments of really, um, basic science, like wet, wet lab kind of things, right?
So from microbiology to cell biology to neurobiology, and so, and we cover. A little bit of everything with our scientists. So we have a lot of scientists who works in oncology, of course, many neurodegeneration, neurodevelopment. We have a plant biologist. We have, you know, stem cells expert. A little bit of everything that makes the selection process and the building of the review committee a little bit.
Uh. More exciting, you know, because we always have, yeah, it’s very diversified. It’s very diversified. So, but you know, so far, so good. And it’s, uh, all the members of our review committees that are really passionate about the mission of the foundation as well. So it’s a, it’s a pleasure to work with them.
Naji Gehchan: Well, this is great. Any story you wanna highlight from, from folks and scientists that more than three decades now working in basic research? I know it’s hard when, when, when people ask me to choose one, it’s always hard.
Elisabetta Vitali: No, I, I can choose one, but maybe, you know, um. One person I, maybe I would not name the person, but we, we are really proud of.
Um, so we really believe that on top of basic science, really collaboration is key to advance knowledge and produce discoveries. And collaboration means collaboration. Among different countries and different cultures and different ways of doing things, and obviously, uh, one of the reason why we stay generalist it is because we truly believe in multidisciplinarity.
And uh, so we are really proud to have now few, um, of our scientists that have been really sort of benefiting from the full circle. For example, we had a scientist who was a postdoc at HMS and the postdoc position at that time was sponsored by us, and then he won the career development award, so now he’s back in Italy and he is also.
Um, still very, um, you know, it became the head of a department of very, um, you know, top institution in Italy. It, it also produces a lot of, uh, more translationable, um, application without losing, uh, track of his basic science approach. And as well as we have a couple of, uh. Um, career development awardee that they used.
They also were summer fellows. We have this program for a college student.
Naji Gehchan: Mm.
Elisabetta Vitali: And so we like to see, you know, this brain circulation and uh, and cross personalization of, uh, of talents basically, and culture.
Naji Gehchan: Yeah. That’s awesome. Yeah. And as I hear you, it’s, it’s beyond actually the basic research itself.
You are making. Uh, uh, bets and helping out people and scientists through their development and their career progression since very early days to, to now having people who have their own labs and extremely successful scientists across Italy and the us. So it’s, it’s a very different lens of, you know, just helping out a specific project, uh, but more actually focused on the people side of things.
Am I getting it right? Yes.
Elisabetta Vitali: You are? Yes. In fact, we always clarify to them that while our funds and grants are completely philanthropic, so for example, we do not retain any right or on any IP or future development, we lie when we say they’re completely free because once they’re part of our community, we never let go.
You know, it is a testament. Every year we have, uh. At least one event for our communities and they still all participating, you know, starting with the scientists we found 30 years ago. Oh, that’s great. So it’s really, it is really special.
Naji Gehchan: So I’m, I’m gonna now give you one word and I would love your reaction to it.
Elisabetta Vitali: Okay.
Naji Gehchan: The first one is leadership.
Elisabetta Vitali: Leadership to me is linked to motivation. Being able to, to motivate and stay true to your passion.
Naji Gehchan: What about research
Elisabetta Vitali: in general? I believe research in every field is key to understanding and, uh, really trying to. Find the best solutions and plan in any situation.
Naji Gehchan: What about legacy?
Elisabetta Vitali: Legacy? It’s something I hope I could leave behind in a way and, uh, I dunno if that replies, but it make me, um, dream about when I’m gone. Maybe there will be, I will be, remember because of the way I did things I believed in. Wow. So that could be Legacy is an ex setting. An example, I think.
Naji Gehchan: And the last one is spread love and organizations,
Elisabetta Vitali: something we really need.
And again, in a way it goes to legacy, I think. It’s important to remember we are old people after all, and so, you know, respect and understanding without losing, um, uh, you know, with, with while keeping the eyes on the prize for sure. Right? I am. Uh, but I think respect and, uh. And, uh, yeah, respect. Basically, it’s what we need and respect is fundament for love.
Naji Gehchan: Any final word of wisdom Elisabetta for leaders around the world?
Elisabetta Vitali: That’s a really big, a really big, uh, question. I mean, I wish research facts and respect. Would lead our leaders. Let’s leave it like that.
Naji Gehchan: Well, thank you so much for this great conversation and for being with me today.
Elisabetta Vitali: Thank you, NAJI. Thank you for having me. Thank you for your podcast.
Naji Gehchan: Thanks for listening to the show! For more episodes, make sure to subscribe to Spreadloveio.com or wherever you listen to your podcasts. Let’s inspire change together and make a positive impact in healthcare, one story at a time.
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