Richard N. Foster – Advisory Board Member, SQream Technologies

SHO1637_06b_CROP_LR Preferred 1 RNF Crop (1)Richard N. Foster, Presidents’ Circle co-chair, is a member of the Policy & Global Affairs Committee of the National Research Council.

Dr. Foster is an Emeritus Director of McKinsey & Company, Inc.  Dr. Foster joined McKinsey in 1973, was elected a partner in 1978 and a Senior Partner/Director in 1982.  During his tenure at McKinsey, Dr. Foster founded several practices including the private equity practice, the healthcare practice and the technology and innovation practice. From 1995 to 1998 he led McKinsey’s worldwide knowledge development.  Dr. Foster was also a member of the key personnel committees from 1985 – 1995.

Dr. Foster now pursues a portfolio of for profit, not for profit and educational activities.  Within his for profit activities, Dr. Foster is a Venture Partner of Lux Capital, a member of the board of Advantia Health, Ancera Diagnostics, and Meehan Combs Capital Funds. He is a member of the Advisory Boards of  Health Point Capital, Cloud MedX and ZocDoc, all healthcare start ups. Within the non-profit sector, Dr. Foster is a member of the Board of Directors of the Memorial Sloan Kettering Cancer Center where he is a member of the Technology, Finance, Audit Committees and Quality Committees.   He is a member of the Executive Committee and Chair of the Medical Research Committee of the W. M. Keck Foundation.  He is a member of the Advisory Boards of the Yale School of Medicine, and the Harvard Medical School Policy Advisory Committee.  Dr. Foster is the Co-Chair of the National Academies Presidents’ Circle. He is also a member of the Policy and Global Affairs Committee of the National Academies.   In addition to his service to the Academies, Dr. Foster’s educational activities include lecturing at the Yale School of Management, serving as the Executive in Residence at the Yale Entrepreneurial Institute.  Dr. Foster has served as the Special Advisor on Healthcare Innovation to the President of Yale. In addition Dr. Foster a member of the board and a member of the Strategy Committee for the Council for Aid to Education.

Dr. Foster has served on the boards of the Trust Company of the West (until it was purchased by Carlyle), athenahealth, the Council on Foreign Relations, the Santa Fe Institute, and the Oak Ridge National Laboratories.  He was the co-chair of the Healthcare Data Initiative, a joint venture of the Department of Health & Human Services and the Institute of Medicine in 2011 and 2012.  He now serves as head of the Innovation in Hospitals Initiative there.

Dr. Foster’s research interests are in the relationships between capital formation, innovation and creativity, and regulation. Dr. Foster has written two best-selling books: Innovation: The Attacker’s Advantage (1986) and Creative Destruction (2001), as well as several dozen articles in research and popular journals. In 2012 “Creative Destruction” was cited by the Harvard Business Review as one of the “Great Moments in Management” in the past century. Dr. Foster was also recognized as one of the Harvard Business Review’s ten “Masters of Innovation” in the past century. Dr. Foster was the external leader of the Council on Foreign Relations Study Group on Innovation and Economic Power which led to the publication of Technological Innovation and Economic Performance, Princeton University Press (2001). Dr. Foster received his BS, MS, and PhD from Yale University in Engineering and Applied Science. He was elected a fellow of the American Academy of Arts & Sciences in 2008.