SHARK TANK INNOVATION

After five years using a “Shark Tank” model as part of its Grants Initiative, the Women’s Board of Northwestern Medicine Lake Forest Hospital funds grants that make the hospital a warmer, more holistic, and more effective destination for healing and wellness.

LAKE FOREST’S LESLIE BASEDOW AND AMY WELLS—with nearly 20 years of service between them to the Women’s Board of Northwestern Medicine Lake Forest Hospital (NMLFH)—co-chair the grants committee that oversees the board’s Grants Initiative. The Grants Initiative is a special fund the Women’s Board established in 2011 to support new technology, clinical services, and breakthrough research at the hospital. The Women’s Board raises funds for the initiative exclusively through their annual appeal that is mailed to thousands of homes throughout Lake Forest and Lake Bluff each fall.

“The Women’s Board grant initiative has funded a number of impactful projects at the hospital,” Wells explains. “Doctors, nurses, and other staff use the funds to develop new programs and care models that enhance the care available to the Lake Forest community.”

The Women’s Board of NMLFH dates back to 1946. The board is comprised of more than 150 talented and committed regular, honorary, and sustaining members. Over the past 76 years, the board has raised more than $15 million in support of Lake Forest Hospital.

“Each year we take the full amount we raise from the appeal and give it all away,” Basedow adds. “It’s inspiring, it’s immediate, and it’s high impact. Our entire grants initiative is funded through gifts to the appeal. Without the support of the community and Women’s Board, the program just doesn’t have the fuel.”

During the first quarter of every year, the grants committee solicits applications from all areas of the hospital and from varying levels of experience. Typically, the committee receives about 20 grant applications, and they make awards to between seven and ten of them. Applications are carefully reviewed by the Women’s Board Grants Committee.

“We have established a rigorous, collaborative vetting process to ensure that funds are allocated to the most impactful programs,” Basedow says. “We are fortunate to have Clinical Advisors Dr. Michael Bauer and Karen Mahnke sitting on our committee, whose invaluable knowledge and guidance support the initiative. They encourage staff members to apply and work alongside the Women’s Board during the vetting process. In addition, Karin Mohar has been the driving force behind our operations for over a decade. Her unwavering support has ensured the seamless execution of processes, from mailing appeals to managing social media campaigns to overseeing the application review process.”

In 2018, when Susan Loiacano was President of the Women’s Board, she introduced the “Shark Tank” format for applicant reviews. This game-changing idea allows applicants to pitch their ideas, engage directly with board members and clinical advisors, and receive immediate feedback. Dr. Bauer and Mahnke also actively participate in the Shark Tank and assist with decision-making.

“The applications are impressive, and seeing the presentation can change our minds about a finalist,” Wells says. “The presenters bring more details, data, impacts, and always remind us of the WHY we put our time into fundraising and support the innovative projects NWLF staff bring to the table. Being a part of the team that supports those ideas is a gift.”

Once the Shark Tank committee reaches a decision, the participants are immediately notified, and the winners are funded. On May 21, the grants committee held its annual Shark Tank and funded the following applicants for 2025:

Utilizing 3D images to enhance orthopedic explanations
Providing a comprehensive dementia support series for caregivers
Advancements in technology for enhancing neonatal warming protocols
Training to enhance initial IV success in children
Advanced technology to improve pressure injury diagnosis and treatment

Basedow’s work on the Grants Initiative also has personal meaning.

“I’m grateful to contribute to health care innovation in our community,” she says. “My mom, Ellen Stirling, was deeply committed to the hospital and received exceptional care throughout her life. My Dad, Jim Stirling, is a Life Trustee of Northwestern Memorial Hospital and co-chaired the Our Legacy, Our Future campaign that raised more than $100 million with Debbie Saran. I’m proud to continue our family’s tradition of supporting Northwestern Lake Forest Hospital.”