NI: National Instruments Fund to Support COVID-19 Relief and STEM Education
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$2.5M to be deployed immediately to support local Austin and global COVID-19 relief efforts
AUSTIN, Texas – April 3, 2020 – NI (Nasdaq: NATI) today announced that $2.5 million will be immediately deployed from the National Instruments Fund, a donor advised fund established by NI in 2019 with the Austin Community Foundation, to support global and local COVID-19 relief efforts. The remainder of the $7 million donor advised fund is expected to be invested in STEM education and community development programs for underserved and underrepresented groups to promote opportunity and prosperity.
Enabling engineers to innovate quickly, ambitiously and successfully is at the core of NI’s business. And increasing equity in STEM education and the workforce is at the core of NI’s giving strategy. The company’s donation brings these two core elements together, helping community partners to create solutions to some of the biggest challenges our world is facing.
“Our purpose as a company has never been more relevant. We are here to help our employees, customers, partners and the communities in which we work and live, thrive,” said Eric Starkloff, chief executive officer, NI. “We are a company with a 100-year plan, so we are deeply invested in the long-term health and stability of not just our company, but also our society.”
The $2.5 million is to be immediately deployed to COVID-19 relief efforts in the Austin metro area and other countries where NI operates, as follows:
- $1 million to be made available as a matching grant to the All Together ATX Fund, created by Austin Community Foundation and United Way for Greater Austin. The fund will provide flexible resources to nonprofit organizations working with communities who are disproportionately impacted by COVID-19 and the economic consequences of the outbreak. The grant will match individual and corporate donations, up to a total of $1 million.
- $1.5 million to be deployed to nonprofit organizations that serve the other communities where NI has major global operations.
“We are honored to contribute to the All Together ATX Fund,” said Tabitha Upshaw, head of corporate responsibility, NI. “As the name suggests, we are all in this together. So, we hope our matching grant will bring even more people together and encourage them to give in support of our community during this unprecedented time.”
The remainder of the fund is expected to be deployed over time to programs that increase diversity and equity in STEM education and the workforce, and that promote community development. The COVID-19 outbreak has had a disproportionate impact on low-income and minority communities. By funding targeted STEM programs in these communities, NI aims to prevent existing opportunity gaps from widening even further.
“In the long-term, STEM education, and the field’s high-paying careers, can provide a path to economic prosperity,” said Upshaw. “Growing and diversifying the STEM talent pool is essential to our collective future.”