IBM and Pfizer made similar million-dollar committments.

Intel is looking to drive diversity and restore balance to the male-dominated tech industry by pledging to spend $100 million with women-owned businesses.

The million-dollar commitment, spread over the next three years, was announced alongside similar commitments made by IBM and Pfizer at the 2017 Global Citizen Festival in Hamburg, Germany.

Intel, with the investment, is looking to boost inclusive sourcing in its supply chain as the tech giant believes that it will foster ‘economic empowerment within underrepresented minority groups.’

“Diversity and inclusion are critical underpinnings to our constantly evolving culture at Intel,” said Barbara Whye, Intel chief diversity and inclusion officer and vice president of Human Resources.

“They accelerate our ability to consistently innovate and drive the business forward.

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