Communities whose residents are minority populations have a long history of being underserved and under-represented, resulting in persistent discrimination and systemic racism. Health insurance providers recognize the importance of everyone working together to improve health equity so all Americans can live their best, healthiest lives. Please visit our health equity resources page learn more about how health insurance providers are fighting for equity in health care.
CareSource will initially invest $2.5 million in the fund, with individual investments of as much as $250,000. The fund will syndicate alongside Elevate Ventures' direct investment and other venture funds. This new fund will provide capital for diverse founders and/or those who seek to improve healthcare outcomes or related social impact. Companies must be high-growth Indiana-based companies launching in technology or select healthcare and life sciences sectors that may provide solutions to underserved populations.
Elevate Ventures will source and vet companies for consideration, complete due diligence, and provide investment recommendations to an investment committee composed of representatives from CareSource. Investment decisions will be made by CareSource.
All companies receiving funding through the CareSource Diversity & Social Impact Investment Fund will receive Elevate Ventures portfolio benefits.
The new fund joins other CareSource initiatives supporting Hoosiers. Along with providing comprehensive health care coverage and options for the uninsured, CareSource launched a $6 million commitment to invest in affordable housing and partnered with IU Health to offer a virtual care program for students with mental health concerns.
Companies interested in being considered for investment can apply to Elevate Ventures under its "direct investment" application at www.elevateventures.com/apply.
Inclusion is integral to a thriving society: when diverse businesses thrive, so do the communities where they are located. Yet women, minorities, people with disabilities and members of the LGBTQIA+ community often face barriers and obstacles to founding their own businesses.
To provide these groups with opportunities to learn from others and to access startup capital, Delta Dental has made a $828,000 investment in the Lightship Foundation, an organization dedicated to supporting entrepreneurs from marginalized backgrounds.
The investment from Delta Dental will be used to fund Lightship bootcamps in Detroit, Cleveland, Columbus and Cincinnati this summer and fall, and a Lightship Accelerator in Detroit. Both programs offer education, networking and mentorship opportunities for business founders.
The bootcamps are a free, two-day program providing beginning entrepreneurs with expert advice on sales tactics, legal information, investment readiness, marketing and more. Since 2017, 72 business founders have completed the program, and $100 million has been raised for their businesses.
Lightship Accelerator is free, 12-week program based in Detroit that provides support and business education to women and minority entrepreneurs in technology. Participants in the Accelerator also receive a $250,000 investment from the Lightship Foundation.
In collaboration with three Inland Empire universities, 50 local medical students were awarded scholarships from Inland Empire Health Plan's (IEHP) Healthcare Scholarship Fund (HSF), totaling $40 million over the next 5 years. The scholarship helps local students have greater access to medical school education and aims to address the ongoing physician shortage in the region.
IEHP has partnered with University of California, Riverside; California University of Science and Medicine; and Loma Linda University to support, develop and provide needed physicians, specialists and behavioral health practitioners to the Inland Empire, increasing the current ratio of 35 primary care and specialty physicians per 100,000 people in California to the recommended ratio of 60-80 physicians per 100,000 people.
The scholarship's inaugural cohort brings together a diverse group of students from the Inland Empire. More than 30 recipient students grew up in the Inland Empire and more than 50% are first generation medical students and grew up in low-income households.
Through the scholarship fund, aspiring healthcare professionals will be guided through the system and connected to the health plan's provider network. This allows students to pursue successful careers in healthcare immediately after graduation to help support the region's growing population.
Partnering universities facilitate the application process with the contingency that students agree to practice medicine in the Inland Empire for at least five years after graduation.