California HealthCare Foundation Making Program-Related Investment Loans Available For Innovation Development In Healthcare

CHCF provides investment capital for companies with innovations that can lower the cost of care and improve access. The Angel soft website is the web based client to use to apply. The whole idea here is to find cost saving technologies that will serve to give better healthcare while saving money so those 2 items are probably engrained in everyone’s head at this point.

These are not grants but rather loans that need to be paid back so the foundation can re-issue funds to another company once they have been paid back. This could be good news for small companies that have not been able to secure loans in other places and as long as all the qualifications have been met.

CHCF's Innovations for the Underserved program makes "program-related investments" (PRIs) in medical and health care devices, technologies, and services. CHCF is interested in accelerating the development of innovations that change the way heath care is organized and delivered — with a focus on lowering health care system costs and improving access for the underserved.

Program-related investments can be made to meet the needs of potentially revenue-generating organizations that are developing market-based solutions to social problems. PRIs are foundation investments that take the form of low-cost loans, loan guarantees, or equity, rather than grants.

Eligibility

CHCF will consider both nonprofit and for-profit organizations and companies that meet the criteria for the program. While we fund very few unsolicited grant proposals, organizations that do not meet the criteria for program-related investment but are closely aligned with CHCF's strategic priorities might be considered for a grant.

Scope of Investment

CHCF will consider these investment stages and ranges:

All stages, with a primary focus on early stage, including seed rounds as small as $50,000;

Total investment of up to $3,000,000, with a likely range of $50,000 to $5,000,000; and

Capital-efficient business models, typically requiring a total of $15,000,000 from multiple investors.

To Apply

We will accept applications for the CHCF Health Innovation Fund only through the Angelsoft site. To apply, please be prepared to submit during the Angelsoft process:

A brief description of the business concept; the market need and problem solved; how the organization will improve access to or lower the cost of care; and how the innovation will benefit the people of California.

A business plan, including marketing and sales strategies, technology plan, organization and staffing plan, three- to five-year capital financial projections, and funding requirements; and

Resumes of founders and management.

Only complete applications will be reviewed by CHCF.