Intel, IBM and Pfizer plan to spend $300m with women-led businesses

10 Jul 2017

Image: gpointstudio/Shutterstock

In their latest effort to boost diversity in leadership, Intel, IBM and Pfizer have promised to invest $300m in women-led businesses over the next three years.

Of late, Intel has revealed some major spending in the advanced fields of autonomous vehicles and the internet of things (IoT), but its latest effort aims to boost the number of women in leadership positions.

Intel, IBM and Pfizer have jointly announced plans to source a total of $100m each through their supply chains from women-owned businesses and minority groups.

Announced on stage at the Global Citizen Festival in Hamburg, Germany, the trio’s promise was echoed by foundations from Norway, Belgium and the Netherlands agreeing to commit $172m towards the She Decides movement, which promotes fundamental human rights for women across the globe.

Intel’s chief diversity and inclusion officer, Barbara Whye, said this is part of the company’s wider diversity funding plans.

“Diversity and inclusion are critical underpinnings to our constantly evolving culture at Intel,” she said.

“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.”

Back in 2015, Intel announced plans to increase spending with diverse suppliers to $1bn annually by 2020.

In other Intel news, the company revealed last month that it plans to play a big part in the next Tokyo Olympics, having partnered with the International Olympic Committee to bring IoT to one of the world’s biggest sporting events.

Running until the 2024 games in either LA or Paris, Intel’s deal will see a raft of new quirks brought to the Olympics, largely from a visual standpoint.

This will involve a VR presentation of the games, a drone light show and 360-degree replay technology.

Colm Gorey was a senior journalist with Silicon Republic