CBC TECH 2020 Task Force Unveils S.M.A.R.T Investment Principles for an Inclusive Tech Economy
Washington, DC – Members of the Congressional Black Caucus Diversity Task Force unveiled a set of principles to guide growth in the technology industry that is shared widely in diverse communities and parts of the country.
For the culmination of their return delegation to Silicon Valley, members unveiled new “S.M.A.R.T. Investment Principles” to build a more inclusive and equitable technology sector. Congressional Black Caucus Diversity Task Force Co-Chairs, Congressman G. K. Butterfield (NC-01) and Congresswoman Barbara Lee (CA-13), were joined by Congresswoman Maxine Waters (CA-43), Ranking Member of the House Committee on Financial Services, and Congressman Gregory Meeks (NY-05), also a member of the Financial Services Committee, in Silicon Valley on April 30-May 1 to announce the five principles addressing building the talent pipeline and building Black wealth in tech.
“During our visit to Silicon Valley last year, we were appalled at the slow progress tech companies were making to ensure diversity and inclusion,” said Congressman G. K. Butterfield. “It is unacceptable for companies of this magnitude to not lead in the building of an economy that works for all, where everyone has a fair shot to thrive. So, we returned to Silicon Valley this week with specific action items- the S.M.A.R.T. Investment principles. The goal is for these principles to guide companies in ensuring a strong economy and equal opportunity for all.”
“We founded CBC TECH 2020 in 2015 to address the lack of inclusion and racial equity in Silicon Valley. While we’ve made some progress toward techquity recently, the pace of change in the tech sector has been far too slow,” said Congresswoman Barbara Lee. “Ensuing a pipeline of qualified students of color isn’t enough to obtain racial equity in tech. We must make intentional investments in communities of color. This is why the CBC’s TECH 2020 initiative developed goals with these new S.M.A.R.T. investment principles. These actionable steps are ideas that companies can adopt toward achieving meaningful representation and inclusion in the tech industry.”
The S.M.A.R.T. Investment Principles include five components:
- Support STEAM Education & Job Training
- Make Tech Available & Affordable
- Address Economic Stability of Communities
- Recruit & Retain Black Talent
- Target Investments in Diverse Companies & Communities
Read more about the S.M.A.R.T. Investment principles here.
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