Intel Sets Goal to Spend $200 Million with Women-Owned Businesses
Intel recently announced achieving full representation of women and underrepresented minorities in our U.S. workforce two years early. The company said in a blog post that their commitment extends beyond hiring and retention to creating a diverse and inclusive supply chain with the companies they do business with globally and the communities in which they operate.
At the Global Citizen Festival in July 2017, Intel made a commitment to spend $100 million with women-owned businesses around the world by 2020. More than a year ahead of schedule, they have reached that goal and are now doubling their commitment to spend $200 million with women-owned businesses by 2020 globally. This goal is an important element of the 2015 commitment Intel made to increase spending with diverse suppliers to $1 billion annually by 2020.
According to WEConnect International, women-owned businesses account for less than 1 percent of the vendors contracted by large corporations. By partnering with non-governmental organizations, such as WEConnect, Intel can better identify and certify suppliers, and invest in building their capability to manage and deliver services. The company continues to actively support growth in certified, women-owned businesses globally.
Intel is integrating supplier diversity throughout its procurement processes so that diverse-owned businesses will have greater opportunity to compete in the global marketplace. The company explained that they do this by creating more opportunity and fostering economic empowerment for suppliers and the communities in which they operate.