Pay equity, diversity and inclusion
Intel and the Rules of Diversity
Many regard Intel as a pioneer for technology, as the tech giant has been a part of our world for over 50 years. The company has expanded the parameters to which we function in everyday life, thanks to its cutting edge advancements in tech innovation. There was a time when most computer’s processors were powered by Intel, and today—when the world needs another boost in foresight—Intel has already risen to the occasion.
In June of 2015, Intel took a leap that many didn’t when they announced that as part of Intel Capital’s Diversity and Inclusion Initiative, they would be investing $125 million over a 5-year period into smaller tech companies that are run by women and POC. This diversity fund was run by a woman named Lisa Lambert, who managed this investment into underrepresented entrepreneurs in the hopes of expanding the industry, but also hoping that others will follow suit. Intel Capital has already exceeded that $125 million investment. In fact, they exceeded it in 2018. Will they stop? Not a chance.
The reason involves Lambert’s observations that the environment hasn’t really budged since the initiative first took off. While Intel Capital made it a mission to dissect the industry and observe every crack in the foundation, other companies have been reticent in doing so. As the social climate in the country has intensified through the second half of 2020, Lambert pointed out the only distinction from today and the day they launched their program: “The only real difference today is the riots and social unrest,” Lambert expressed to Pitchbook.
The solution to this problem is layered. While Intel recognized the industry’s lack of diversity, there are also issues which can exist under the corporate roof. Making internal hiring decisions that promote diversity are equally key. While supporting the entrepreneurial spirit of minority-run companies is one excellent maneuver to change the game, modifications to bigger corporate infrastructures must also be addressed. As the world is now slowly coming around to the long overlooked importance of both equality in the streets and in the boardroom, small steps can yield big results. And there is still so much more work to be done.
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