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Reverend Jesse Jackson and the Rainbow PUSH Coalition applaud Intel’s landmark diversity announcement to transform their workforce to achieve parity with the US population available by 2020 – Establishes $300 Million Diversity Investment Fund
-for immediate release-
January 6, 2015
LAS VEGAS: LAS VEGAS: Reverend Jesse Jackson and the Rainbow PUSH Coalition applaud Intel’s landmark diversity announcement to transform their workforce to achieve parity, or full representation of Blacks, Latinos and women, relative to the US population available by 2020.
“Sitting in the front row as the invited guest of Intel to hear Mr. Krzanich’s keynote at the Computer Electronics Show, Rev. Jackson, stated,
“RainbowPUSH argues that companies must set measurable diversity and inclusion goals, targets and timetables. Intel has done just that, and more. Intel CEO Brian Krzanich is demonstrating visionary leadership by committing the company to a bold new hiring and retention goal to mirror the face of America in its U.S. workforce by achieving full representation of women and under-represented minorities at Intel by 2020.
Intel’s “parity 2020” commitment is a game-changer with the potential to fundamentally transform the diversity and inclusion landscape in the technology industry.”
Jackson, who held an exceptional, private meeting with CEO Krzanich and Intel’s leadership team at their Santa Clara offices on December 11, added, “Intel has always been a leader in data transparency – for over a decade they’ve regularly released their EEO-1 and workforce diversity data, long before other tech companies did so last year. Now, Intel’s “2020 Parity” commitment takes the issue to a qualitatively higher level.
And Intel is putting a budget behind its vision, committing $300M over the next 5 years.
The Diversity in Technology Initiative will make investments that help build a pipeline of under-represented engineers and computer scientists, to foster hiring and inclusion for women and under-represented minorities at Intel, and to fund programs and businesses that support a more positive representation of women and under-represented minorities in technology and gaming including increased investments in supplier diversity and venture capital for minority tech entrepreneurs.
“There should be a expansion of collaboration with the HBCU”s, strengthening their infrastructure to teach CS and prepare students to enter the tech industry.
In short the $300M Intel “diversity” fund has the potential to seed the next generation of innovators, creators and hackers. RainbowPUSH will also encourage the utilization and inclusion of minority financial, legal and professional services firms, and the adoption of a robust multi-cultural marketing and advertising initiative to reach the new, emerging markets of America.
Jackson stated, “Today, Intel has defined unequivocally and measurably what it means to “do better.” They are definitively answering the question of “where do we as tech companies and an industry want to be.” They have now set the standard by which all other companies will be measured; other companies will be invited to join the “parity pledge,” including development of uniform workforce data reporting standards. Brian and Intel are creating a big tent, taking creativity and underutilized markets out of the margins.”
Innovation is more than driverless cars, cloud computing, and the latest “wearable” device. There must also be innovation in the inclusion and diversity space. Intel is now driving diversity and inclusion in technology, setting a high bar for it and the entire industry to meet. That’s innovation.
RainbowPUSH is excited to join with Intel and partner with them to implement their “parity 2020” initiative to connect with people, businesses and communities of color to change the face of technology,” said Rev. Jackson.
Jackson added, “It is our hope that the participation of African Americans and Latinos will be greatly accelerated in the next five years. Participating fully and equitably in this world changing, innovative tech economy is the civil rights imperative of this generation. We must all be included and none left behind. Intel’s Parity 2020 commitment today is the boldest action yet taken by any tech company to make this dream a reality.”
African Americans, Latinos, people of color and women: we represent money, market, talent and location. Of the 320 million people in the US, over 45 million or 14% are Black; 52 million or 17% Latino; 5% Asian, and 51% women. By 2040 people of color are projected to be the majority of the US population. African American buying power is projected to be $1.1 trillion by 2015; $1.5 trillion in consumer power for Latinos. That is the new reality for the new America.
There is no talent deficit, but an opportunity deficit. Intel’s “parity 2020” plan demonstrates a desire to tap the unfound talent, untapped capital and underutilized markets in communities of color. There is nothing that the tech industry needs, that we can’t supply. Looking forward, the technology industry can unleash a new era of economic opportunity and innovation and growth.
The business imperative is clear: diversity and inclusion leads to growth and when there is growth everybody wins.
The tech industry has demonstrated that it can solve the most challenging complex problems in the world. Inclusion is a complex problem – if we put our collective minds to it, we can solve it, too. Intel’s “parity 2020” announcement demonstrates its commitment to not just address, but to solve the problem.
Last month, Rev. Jackson met personally and privately with Satya Nadella, CEO of Microsoft; Tim Cook, CEO of Apple; and Brian Krzanich, CEO of Intel. We will seek meetings with the CEO’s and corporate leadership of other technology companies (25 companies participated in the RainbowPUSH tech forum on December 10, held at Intel) to challenge them to follow Intel’s lead on the “parity 2020” pledge, and publicly unveil their own concrete, measurable diversity/inclusion goals, targets and timetables.
At the turn of this new year, Intel has issued a clarion call to the industry. Let the push to parity begin in 2015!