The California Life Sciences (CLS) recently announced the creation of the Racial & Social Equity (RSE) Initiative, part of a multi-year program, funded by CLS member companies, which aims to help close the gaps in inequity and create a more diverse industry.
Black, Hispanic, and Native American people are historically underrepresented in science, technology, engineering and math (STEM) jobs. Black people make up 11% of the U.S. workforce overall but represent 9% of STEM workers, while Hispanics comprise 16% of the U.S. workforce but only 7% of all STEM workers. In 2016, 553 Native American students applied to medical school, yet only about a third of those applicants actually enrolled. On top of this, from 2018-2019, Black founders received 1.7% of venture capital while Hispanic founders received 1.3%.
The focus of the CLSA Inspire QuickFire Challenge for Diverse Innovators initiative is increase STEM opportunities for under-represented students; facilitate the hiring, development and advancement of under-represented talent; invest in diverse entrepreneurs and increase board member diversity; and provide underserved communities with equitable access to care. The challenge offers an opportunity for California-based innovators who are Black, Hispanic, Native American, or Pacific Islander to receive grant funding and mentorship to help advance their science or technology.
