Intel to Invest $125 Million In Startups Run by Minorities and Women


The technology industry has long had a diversity problem. Recent diversity reports of major tech companies show that white males make up the vast majority of their workforce and leadership teams. And according to recent data, only 18 percent of venture-backed startups have at least one female founder. However, tech giant Intel is aiming to help change that. Back in January, the corporation announced it would give $300 million toward workplace diversity efforts. And now, the company is tackling diversity in leadership. Intel Capital, the corporation’s investment branch, announced that it is creating a Diversity Fund of $125 million to invest in helping grow tech startups founded by women or underrepresented minorities. “Our goal with this new fund is to meaningfully support a technology startup workforce more reflective of society, and ultimately to benefit Intel and the broader economy through its success,” Brian Krzanich, Intel’s CEO, said in a statement …

SOURCE: Relevant

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