The COVID-19 pandemic and gaps in recent drug breakthroughs have highlighted the need for representation in clinical research. LISC’s supplier diversity effort is helping drive economic and healthcare equity by supporting innovative businesses behind essential technologies and products. Thanks to financing through the Abbott-LISC Initiative to Support Diverse Businesses in Health, Tranquil Clinical Research can advance efforts to center the needs of communities most impacted by disease through treatment trials, drug development, and more.

More companies are looking to increase employee retention through upskilling, retooling and fostering a culture of belonging. Entrepreneur Ibrahim Jackson wants to harness this momentum to grow his people development firm, Ubiquitous Preferred Services, but first he needs access to capital, which has long been a challenge for Black entrepreneurs. Thanks to financing through Abbott and LISC, Jackson now has the resources to create a highly effective employee e-learning platform, which will lead to more employer contracts for his business.

The economic downturn of 2008 forced retired Fortune 100 executive, Artura Taylor, back into the workforce. Instead of working for someone else, she launched her own business, TDG Scientific, to supply lab equipment, chemicals, PPE, and more to the corporate and government sectors. Like many Black business owners, Taylor found it difficult to access capital to scale her business. Thanks to financing through the Abbott-LISC Initiative to Support Diverse Businesses in Health, Taylor’s business now has the resources to invest in its IT infrastructure and grow its bid department to pursue more contracts.

A new $37.5 million initiative will empower and grow diverse small businesses that provide manufacturing and essential products for healthcare companies. The Abbott-LISC collaboration aims to break down systemic barriers to success, increase diversity, generate jobs and strengthen economies in underinvested communities.