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Intel Capital announced yesterday the Intel Capital Diversity Fund which will invest in technology startups run by women and under-represented minorities. At $125M, the fund is the largest of its kind and Intel Capital plans on investing in the diverse group of industries, including Internet of Things, Cloud Computing, and Cyber Security.
Intel has declared that they wish to achieve full representation of women and under-represented minorities in its U.S. workforce by 2020. This announcement is a continuation of Intel’s Diversity in Technology initiative, unveiled in January and designed to encourage more diversity at Intel and within the technology industry at large.
“We are proud to take a leading role toward broader participation in technology entrepreneurship and employment,” said Lisa M. Lambert, managing director and vice president of Intel Capital, who is leading the Intel Capital Diversity Fund. “With this new fund, Intel Capital is committed to investing in the best talent from a myriad of backgrounds to cultivate brilliant innovations that serve the needs of a diverse public.”
See Also: WECREATE Center brings startup competition for women entrepreneurs in Pakistan
At the launch, Intl Capital also announced its investment in 4 companies:
- Brit + Co aims to educate and inspire women and girls. A media and e-commerce platform, its online classes and all-in-one kits let makers learn everything from calligraphy to building gadgets with Intel Galileo boards.
- CareCloud is the leading provider of cloud-based practice management, Electronic Health Record (EHR), and medical billing software and services for medical groups.
- Mark One uses the Intel® Curie™ hardware module to create a smart cup that automatically recognizes any beverage its user pours into it, displays its nutritional content, and syncs all drinking habits to the user’s smartphone.
- Venafi protects the foundational element of all cyber security—cryptographic keys and digital certificates—so they can’t be misused. With Venafi’s key and certificate security solution, Intel can continue to bring market-leading security and data center technology to market.
Despite being a first world country and way more developed than Pakistan, only 15 percent of venture capital-funded companies in the United States have a woman on the executive team and companies with a woman CEO receive only 3 percent of total venture capital dollars.
Initiatives like this should be commended because despite all the technological advancement women entrepreneurs are still under-estimated. There are various organizations in Pakistan that are trying to strengthen women in in this field but a lot more still needs to be done so that opportunity reaches every woman with ambition. Here’s hoping that such a support fund aimed at women is launched in Pakistan and other countries as well.
For more information about the Intel Capital Diversity Fund, please visit www.intelcapital.com.
