The Oakland-based California HealthCare Foundation has announced the launch of a $10 million fund to support nonprofit organizations and for-profit companies in the state.
The CHCF Innovation Fund will invest in nonprofit organizations and for-profit companies that offer innovative services, devices, and technologies with the potential to significantly reduce healthcare costs and improve access to care. The fund will provide resources at all stages of an organization's development, with a focus on young companies and organizations. Investments will include seed grants as small as $50,000 and could total as much as $3 million over the life of a company or service.
"We know there are entrepreneurs who seek to combine their goal of succeeding in the marketplace with their drive to contribute to society," said Margaret Laws, director of CHCF's Innovations for the Underserved program. "Through this investment fund we will support them to succeed in both arenas."