Women entrepreneurs in India seemed to have finally found the chance they were looking for. According to an interview given to the Economic Times by Intel President Renee James, the technology giant is planning to invest in women owned startups in India. This step by Intel is a part of its global program aimed at increasing diversity in technology business.
“We are also looking at investing in women owned startups, which is something we haven’t done before. We will be doing this worldwide,” said James.
James, who was on an official visit to India last week, also met Indian Prime Minister Narendra Modi and discussed the Modi government’s much popular Digital India initiative and the role Intel as a company could play in it.
The technology giant has announced $300 million earlier this year to increase workforce diversity. James is leading the initiative within the company.
Intel has already been engaging with women entrepreneurs in India since last year. In 2014, the company organized its first Supplier Connect Conference for Women entrepreneurs at its Bangalore campus. According to Debjani Ghosh, MD, Intel, South Asia, the conference aimed at connecting women owned startups with Intel’s internal end buyers/users and explore opportunities to work directly with Intel or through Tier 1 suppliers.
2015 seems to be the year of Intel. The company flagged off the year with the news of record shipments of its PCs in the year 2014. It then declared to spend a whopping $300 million to increase workforce diversity in the tech world. The semiconductor giant has also launched Curie, which is a button sized module used to build wearables out of accessories like bracelets, glasses, rings, at the recently concluded CES 2014 tech fair.
Keeping an eye on the future, Intel is investing heavily in Internet of Things (IoT). According to James, “The growth opportunities around IoT are huge. IoT is a solutions capability. You don’t just sell chips. You sell the operating environment, the security, the manageability software so you can program the devices.”
Personal Computers and server chips account for bulk of Intel’s business. However, the company still has some catching up to do when it comes to mobile devices. The tech giant earned revenues of just $200 million in mobile devices last year and suffered losses worth $4.2 billion.