Career Impact Bond in health care
Social Finance is partnering with Clinical Research Fastrack on the first health care Career Impact Bond. This impact investment will train 700 unemployed or underemployed people, including immigrants and refugees, for careers as clinical research professionals.
Founded in 2016, Clinical Research Fastrack offers a 148-hour training program consisting of remote classroom and experiential learning. Its graduates work on clinical trials for new treatments designed to address a variety of health conditions, including Alzheimer’s, cancer, Covid-19, diabetes, and Parkinson’s.
- Expand access to training: Minimize risks for learners by covering their upfront tuition costs and providing supportive services to help them succeed.
- Support career advancement: Empower learners to develop the skills needed to enter the clinical research field and ascend the career ladder.
- Enable health care innovation: Broaden and diversify the talent pipeline for clinical research to support more equitable health outcomes and employment opportunities.
How It Works
Partners and Supporters
- Clinical Research Fastrack is providing training and supportive services for participants.
- Social Finance is managing the Career Impact Bond.
- The UP Fund is financing the project and managing learner repayments.
- IonTuition, in collaboration with MentorWorks Education Capital, is serving as fiscal agent and custodian.
- Wilmington Trust is serving as fiscal agent and custodian.
- Chapman and Cutler is serving as outside legal counsel to Social Finance for the UP Fund.