Intel to Sign Tech Inclusion Pledge, Discuss Report on Diversity’s Economic Impact at Global Entrepreneurship Summit

WHO: At the Global Entrepreneurship Summit on June 22, Intel CEO Brian Krzanich, along with senior leadership from other Silicon Valley companies, will sign a Tech Inclusion Pledge that resolves to take action to make the technology workforce fully representative of the American people. The commitments of the Pledge align with Intel’s $300 million Diversity in Technology initiative and 2020 goal to reach full representation of women and underrepresented minorities in its U.S. workforce.

U.S. Chief Technology Officer Megan Smith and Silicon Valley companies will participate in a June 23 roundtable event held in conjunction with the Global Entrepreneurship Summit. The roundtable event will provide a forum for technology companies to discuss efforts to advance inclusive entrepreneurship and tech diversity in the United States as well as a report conducted by Intel and Dalberg Global Development Advisors on the business case for workforce diversity.

WHAT: DahlbergReport-DiversityIG-WomenTechBarbara Whye, deputy director, Diversity in Technology Initiative, Intel Corporation, will reveal findings from the report, “Decoding Diversity: The Financial and Economic Returns to Diversity in Tech,” that provides the first-of-its-kind analysis1 quantifying the economic impact of improving diversity in the tech sector.

DahlbergReport-DiversityIG-FullRepresentationThe report looks at data from 167 U.S. technology companies and concludes that increased representation of African-American, Hispanic and female employees has significant economic implications, including productivity, growth and revenue gains in the technology sector. (Read the full report, “Decoding Diversity: The Financial and Economic Returns in Tech.”)

Click on each graphic to enlarge.
Click on each graphic to enlarge.
Key highlights2 from the report include:

  • An additional $470 billion to $570 billion in new value, based on a combination of higher revenues and increased market values, could be achieved for the U.S. technology sector through full representation of racial and ethnic diversity and full representation of gender diversity among leadership.
  • Every incremental percentage point in African-American and Hispanic representation at NASDAQ-listed tech companies can represent a 3 percent increase in revenues and a potential $300 billion to $370 billion annual increase in revenue for the technology sector.
  • A global productivity boost of $430 billion to $530 billion could be generated through closing the global tech industry’s female leadership gap.
WHEN: June 22 and 23, 2016
WHERE: Stanford University, Global Entrepreneurship Summit 2016
CONTACT: Direct all media inquiries to Ellen Healy at ellen.healy@intel.com or (415) 654-2940.

1Compared to existing diversity or economic studies, the Intel/Dalberg study is the first to conduct an analysis of financial performance corresponding to gender/racial/ethnic employee data on a unique data set of only technology companies.

2These statistics are based on regression analyses, which use a data set of 167 tech companies that have published, released or publicly discussed their top-line diversity figures. The Dalberg research team collected gender and racial/ethnic diversity data on these companies, and then performed regression analysis to understand the relationship between gender diversity, racial diversity and financial success. Dalberg applied these results to the domestic technology companies listed on the NASDAQ to estimate the industrywide effect on revenues, market value and operation margin. Full methodology is available in the report annex on www.intel.com/diversity.

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