Sunday, November 14, 2010

Innovation Fund Launched

The California HealthCare Foundation (CHCF) has launched a $10 million investment fund for nonprofit organizations and for-profit companies to provide innovative services, devices, and technologies to significantly reduce costs and improve access to care in California.

Through the angel investment fund set up to ensure quality care for underserved populations, CHCF will be able to support a broad range of entrepreneurs with proven records for developing scalable sustainable businesses in the healthcare market.

The Fund will provide funding at all stages, with a primary focus on early development, including seed rounds as small as $50,000 to total investments of up to $3 million. In addition to providing capital, CHCF can help with regulatory and reimbursement strategies, provide insight into healthcare financing and operations, and connect companies to demonstration sites in the state.

CHCF will consider both non-profit and for profit organizations and companies that meet the criteria for the program. While CHCF funds very few unsolicited grant proposals, organizations that do not meet the criteria for program-related investments but are closely aligned with CHCF’s strategic priorities may be considered for a grant.

Projects must provide:

• Sustainable access to care for at least 100,000 people in the state over 3 to 5 years with the potential to reach one million people in the U.S.
• Savings resulting in annual savings of at least $25,000.000
• A strong case study for policy changes that will enable statewide or national adoption of products or services that can lower cost and or improve access to the medically underserved

For RFP requirements and instructions on how to apply go to