For Marlene Krauss MBA ’67, MD ’79, making planned gifts to Harvard Business School (HBS) and Harvard Medical School (HMS) is more than just a tax-wise financial investment; it’s an investment in the two Schools that helped shape the course of her life.
The first person to earn both an MBA and an MD from Harvard, Krauss has used her business and medical training to great effect as cofounder and managing director of KBL Healthcare Ventures, a venture capital firm dedicated to investing in early-stage and commercial-stage health care companies. Among her many investment successes was Summit Technologies, the developer of the first laser to be approved by the FDA for LASIK refractive eye surgery.
“I’ve always thought it is hard to invest in biotech or medical technology without understanding how they’re used or the science behind them,” says Krauss, a board-certified ophthalmologist. “Because of the two degrees, I can picture how a device functions in the OR and understand the innovation on which a biotech company is based. I also understand the market potential and growth and earnings trajectory of a company.”
In appreciation of her HBS experience, Krauss established a trust at the School with a focus on supporting women in business. “The Business School was a defining experience for me,” says Krauss, who was one of only 11 women in her class. “Women coming out of college in 1965 really had no career prospects at all, let alone the kind of prospects an HBS degree could give me. For me, that education was life changing, and I’m so thankful for it.”
In April 2013, Krauss joined hundreds of fellow HBS alumnae at the W50 Summit, part of the School’s yearlong celebration of the 50th anniversary of women being admitted to the full-time MBA program.
“It was the best weekend of my life,” she says. “To revisit what a pioneering spirit I had was very emotional for me. Throughout the weekend, people kept coming up to me, saying, ‘Look at what you did. You are a role model.’ It was a very affirming time.”
In addition to her trust at HBS, Krauss also has a trust at Harvard Medical School. She hopes this trust will make her a role model in terms of giving to HMS. Krauss, who serves on the School’s Advisory Council on Education, feels strongly about supporting HMS, particularly the Family Van, a public health outreach program that increases access to health care and improves the health status of residents in Boston’s most underserved communities.
“Medical education is extremely expensive, and Harvard Medical School can use all the help it can get from alumni to benefit the next generation of doctors and their patients,” she says. “I feel that it is very important to help support the School.”
Contact University Planned Giving to learn more about establishing trusts.