Biotech takes on racial and social equity. Are the efforts sustainable?

On March 23, 2021, BioscienceLA partner organization, the California Life Sciences Association- California Life Sciences Institute (CLSA-CLSI) Racial & Social Equity Initiative was featured in the San Francisco Business Times.

The article covers the recent launch of CLSA-CLSI’s three-year, $1 million-a-year racial and social equity initiative. This initiative is centered on building, hiring and retaining a pipeline of diverse talent and future leaders from communities historically under-represented in biotech, while funding a diverse set of innovators and providing access to care.

CLSA President and CEO Mike Guerra, board chair Melinda Richter of Johnson & Johnson Innovation and CLSI President and CEO Lori Lindburg had been talking about what their organizations could do to create a sustainable response to racial and social equity. What they initially came up with was a program with a $300,000 fundraising goal for CLSA member companies.

"That wasn't bold enough," Guerra said. "We need a million dollars (a year) over three years."

The money will support a band of programs aimed at increasing awareness of so-called STEM education for under-represented students, particularly people of color; expanding opportunities for biotech entry-level jobs and advancement; funding entrepreneurs and innovations that serve under-represented communities through two QuickFire grant competitions for up to six Black, Hispanic and Native American entrepreneurs; building a pool of up-and-coming women and under-represented people who are ready for company board positions, and; advocating for equitable access to and coverage of care.

Over 50 CLSA members already have donated to the program, Guerra said, and those who can't give financially are asked to take on interns or offer mentors.

You can read the full article here.