This week, Intel announced a commitment to spend $ 100 million with women-owned businesses around the world over the next three years. Intel made this announcement on stage at the 2017 Global Citizen Festival in Hamburg, Germany, alongside IBM* and Pfizer*, who made similar commitments. Intel believes that inclusive sourcing in its supply chain can help to foster economic empowerment within underrepresented minority groups.
“Diversity and inclusion are critical underpinnings to our constantly evolving culture at Intel,” said Barbara Whye, Intel chief diversity and inclusion officer and vice president of Human Resources. “They accelerate our ability to consistently innovate and drive the business forward. Supplier diversity adds tremendously to our competitive advantage while stimulating growth in a global marketplace.”
This announcement contributes to the 2015 commitment Intel made to increase spending with diverse suppliers to $ 1 billion annually by 2020. Intel knows that diverse owners hire from and spend in diverse communities. Intel is integrating supplier diversity throughout its procurement processes so that diverse-owned businesses will have greater opportunity to compete for business.
Intel is also sponsoring diverse entrepreneurs around the world to attend special educational programs focused on helping diverse businesses. There are currently 18 countries included in Intel’s global diverse supplier program.
Diversity and inclusion are key to Intel’s evolution and driving forces for its continued relevancy and growth. In January 2015, Intel set a bold goal to reach full representation of women and underrepresented minorities in our U.S. workforce by 2020. The company committed $ 300 million to support this goal and its broader goal of improving diversity and inclusion in the entire technology industry.
Over the past two and a half years, Intel has invested internally in hiring, retention and manager programs, and externally in education pathway programs, university partnerships, diverse entrepreneurs, anti-online harassment initiatives and spending with diverse suppliers.