News

Intel Capital launches $125M fund for Women and minority entrepreneurs

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.

Sponsored
Maryam Dodhy

I love bringing to light stories of extraordinary people working in Pakistan's tech and startup industry. You can reach out to me through maryamdodhy@techjuice.pk.

Share
Published by
Maryam Dodhy

Recent Posts

Rumors Indicate iPhone 17 May Feature Unconventional Camera Design

Apple is reportedly preparing for a significant design overhaul with its iPhone 17 series, blending…

5 hours ago

First AI-Powered Teacher Launched in Pakistan’s Private School

Karachi: A private school in Karachi has unveiled Pakistan’s first AI-powered teacher, a groundbreaking move…

6 hours ago

Yahoo Surprises Users with Its Latest Android Launcher

Third-party apps have long been a staple of the Android ecosystem, but their appeal has…

7 hours ago

Phase-II Review of PTCL-Telenor Deal Finalized by CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) has completed its Phase-II review of Pakistan Telecommunication…

7 hours ago

Xiaomi’s SU7 Achieves New Production Record, Driving Q3 Growth

Xiaomi has shattered records by producing 100,000 vehicles in just 230 days. This is nearly…

9 hours ago

Teachers Can Now Access OpenAI’s Free AI Course

OpenAI, in collaboration with nonprofit organization Common Sense Media, announced on Wednesday the launch of…

10 hours ago