Fund Diverse Innovators
CLS on behalf of our members, will:
- Partner with J&J Innovation, and other partners, to deliver and fund a CLS Inspire QuickFire Challenge for Diverse Innovators for California, which will award up to $300,000 and mentorship for up to six (6) California-based entrepreneurs; three (3) that represent underrepresented innovators and three (3) with solutions for underserved patient populations
- Secure Investors to join the CLS Inspire QuickFire Challenge for Diverse Innovators review board who will commit to match our funding awards for those entrepreneurs
- Work with California incubators to research, create and adopt a best-practices playbook for inclusiveness to increase diversity of startup founders and early employees from our underrepresented populations
- Get commitment from portfolio reporting organizations to report, subject to relevant privacy and confidentiality considerations, on the aggregate numbers of funded companies who have founders/executives and/or investors from underrepresented populations
Annual Metrics
- CLS and J&J Innovation CLS Inspire QuickFire Challenge for Diverse Innovators completed, with at least 3 investors with matching commitments
- Secure commitment of 50%+ of California incubators and accelerators to implement the playbook and increase the diversity of member companies
- Track YOY the amount of funding awarded to founders from our underrepresented populations
- Track YOY the number of investors from our underrepresented populations