Grants For Women logo

The Online Guide To Women
Grants, Scholarships, and More!
Home What Are Grants? Opportunities Types of Grants How To Apply News/ Blog

  THE FUNDING FOR WOMEN BLOG  

Thursday, July 13, 2017

Intel, Pfizer and IBM Commit $300 Million to Help Fund Women-Owned Businesses

intel
At a recent 2017 Global Citizen Festival in Hamburg, Germany, multinational technology company Intel, along with IBM and Pfizer, announced they have committed $300 million to increase spending with women-owned businesses. Intel referred to the initiative as "inclusive sourcing in its supply chain (which) can help to foster economic empowerment within underrepresented minority groups."

The news comes as a welcome opportunity for women-owned businesses around the globe. Intel alone has made a commitment to spend $100 million with women-owned businesses around the world over the next three years, and all three companies have collectively committed to source $300 million through their supply chains from women-owned businesses.

The announcement came as an addition to an earlier commitment made by Intel in 2015, when the company announced it intended to increase spending with diverse suppliers to $1 billion annually by 2020. Not only does the company want to achieve full representation of women and underrepresented minorities in the U.S. workforce by 2020, they also want to greatly improve diversity and inclusion in the entire technology industry.

Good for every one's business

Intel explained that diversity will help to drive business forward and add to "growth in a global marketplace," according to Barbara Whye, Chief Diversity and Inclusion Officer and Vice President, Human Resources, Intel. The huge financial commitment seems to point to a great opportunity for everyone to win through increased competition for business as well as economic empowerment for women-owned business.

Read more by visiting techseen.com/2017/07/11/ibm-pfizer-intel-women-businesses/
SHARE THIS PAGE: