As the curtains fall for the Africa Telecommunications Union Innovation Challenge 2020, one of the giants that have stood behind the success of the idea is marking just another milestone in its quest to rally behind youth, talent and innovation across the globe. Intel Corporation this year alone has supported startups to the tune of $132M towards a projected total of $300M-$500M expected at the close of the year.
The company, whose mission is, to engineer solutions for customers’ greatest challenges with reliable, cloud to edge computing, is an industry leader. Over the years, it has cultivated a rich tradition of creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, Intel continuously works to advance the design and manufacturing of semiconductors to help address customers’ greatest challenges. In quest of transforming business and society for the better, Intel has undertaken to unleash the potential of data by embedding intelligence in the cloud, network, edge and every kind of computing device.
As an integral partner of ATU, the company’s desire for driving innovation that makes the world safer while building healthy and vibrant communities with increased productivity has served to provide a baseline for this relationship.
It is this level of socio-economic responsibility that has further led Intel to train its focus on the future, particularly through corporate venture capital. The industry leader has shaped up to be one of the most prolific and prescient investors in the tech world, with investments in 1,582 companies worldwide, and a tally of some 692 portfolio companies going public or otherwise exiting in the wake of Intel’s backing.
“Intel Capital identifies and invests in disruptive startups that are working to improve the way we work and live. Each of our recent investments is pushing the boundaries in areas such as AI, data analytics, autonomous systems and semiconductor innovation. Intel Capital is excited to work with these companies as we jointly navigate the current world challenges and as we together drive sustainable, long-term growth,” said Wendell Brooks, Intel senior vice president and president of Intel Capital, in a statement released to newsrooms earlier in the year.
The company has also allocated up to $10 million for an innovation fund that supports requests from external partners and employee-led relief projects, addressing critical needs in their communities. To take care of the growing needs of the new global economy, Intel is convinced, the business community must play an active role which will go a long way in ensuring the next generation has the tools to foster innovation, entrepreneurship, and skill development, especially in communities.
To learn more about Intel’s innovations, visit newsroom.intel.com and intel.com