Nasdaq announced today a new “Purpose Initiative,” designed
to support women and underrepresented minority communities with the
resources needed to grow and sustain their businesses. The Purpose
Initiative comprises the company’s philanthropic, community
outreach, corporate sustainability, and employee volunteerism
programs, to leverage Nasdaq’s unique place at the center of
capital creation, markets, and technology.
At Nasdaq, our purpose is to champion inclusive
growth and prosperity. We power stronger economies, create
more equitable opportunities, and contribute to a more sustainable
world to help our communities, clients, employees and people of all
backgrounds reach their full potential.
While the capital markets are a fundamental
engine of prosperity, economic growth, job creation, and
innovation, there are structural factors across society that have
created challenges for women and underpresented minorities to
achieve equal access to capital. There are many proof points that
demonstrate the outcome of those challenges, including data that
shows women of color are starting new businesses faster than anyone
else, yet less than 3% of venture capital in the U.S. goes to
women-led teams, and only 1% goes to Black and Latinx
founders.1
“Unequal participation in the markets is
deepening the divide within our communities, and more needs to be
done to level the playing field for entrepreneurs and investors of
all ages, genders, and races,” said Adena Friedman,
President and CEO of Nasdaq. “We have observed first-hand
during the pandemic the spirit of cooperative capitalism where
companies can play a critical role in helping to solve some of
today’s most pressing societal issues. Because the capital markets
can be a powerful vehicle for fostering new ideas in building a
more inclusive economy and creating wealth, we are pledging to use
our industry expertise, renewed sense of purpose, and philanthropic
focus to advance investor engagement and provide increased support
to minority and female entrepreneurs.”
The New
Nasdaq
Foundation:
Advancing Diversity in Investor
Engagement
Nasdaq will relaunch the Nasdaq Foundation –
established in 1994 as the Nasdaq Educational Foundation – with a
renewed mission focused on two primary goals: the first goal will
be to reimagine investor engagement to equip under-represented
communities with the financial knowledge to share in the wealth
that markets create. The second goal is to leverage its investment
in the Nasdaq Entrepreneurial Center alongside new strategic
partnerships with organizations who can help build a deeper,
data-led understanding of where the challenges are greatest, what
existing efforts could be amplified, and how the Nasdaq Foundation
can make new and distinctive contributions.
“For nearly half a century, Nasdaq has provided
unwavering support to entrepreneurs and believed in their potential
to shape the world,” said Jailan Griffiths,
Vice President and Head of the
Purpose Initiative at Nasdaq.
“Our reimagined Nasdaq Foundation will leverage Nasdaq’s role in
the capital markets to equip under-represented communities with the
financial knowledge to better empower them to build a prosperous
future and participate in an ecosystem that supports and sustains
their growth.”
In addition to committing to an annual
contribution tied to our operating profits, Nasdaq has made a
one-time capital injection of $10 million to support the Nasdaq
Foundation’s refined mission.
Extending our Commitment to our
Communities: Increasing Capital Markets
Participation
To complement Nasdaq’s renewed commitment to
create lasting, positive change, our efforts will be further
amplified through the Nasdaq GoodWorks employee volunteerism
program and the Nasdaq Entrepreneurial Center, an independent
501(c)(3) organization committed to bringing access and equity to
the global entrepreneurial ecosystem.
GoodWorks will identify new philanthropic and
employee volunteerism opportunities with local charities and
non-profit organizations that promote diversity in entrepreneurship
and investor engagement. Nasdaq will also continue to support the
Entrepreneurial Center’s mission to deliver resources and
mentorship to entrepreneurs of every background, with programs
specifically focused on women and underrepresented minorities, to
strengthen, scale, and bring to market their ventures. In the last
four years, the Entrepreneurial Center has reached over 25,000
current and aspiring entrepreneurs from over 90 countries through
5,000 hours of free education, supported by more than 700 faculty,
coaches, and executive mentors.
Revitalizing Investor Education
& Engagement through
Nasdaq’s ‘Smart Investing’
Portal
Nasdaq has launched a Smart Investing portal to
inform the general public on all elements of retail trading and
investing. This educational hub includes a range of resources on
the principles of investing, from how diversification can help
reduce risks, to how ETFs and options work. New content will be
added on a regular basis and is organized in three categories:
introduction to investing; money matters; and trading essentials.
With data showing 14% of Americans do not invest because they don’t
know how2, Nasdaq believes that greater access to educational
resources can help to drive increased investor engagement from all
ages, genders, and race. Aligned with Nasdaq’s renewed purpose, the
Smart Investing portal’s tools are aimed to help investors – both
seasoned and novice alike – make more informed decisions about
saving, trading, and protecting their money.
1 – Source: American Express, PitchBook2 –
Source: GOBankingRates
About
Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a global technology
company serving the capital markets and other industries. Our
diverse offering of data, analytics, software, and services enables
clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions
and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq,
or at www.nasdaq.com.
About the
Nasdaq Foundation:
Relaunched in 2020, the Nasdaq Foundation’s
mission will leverage Nasdaq’s role in the capital markets to equip
under-represented communities with the financial knowledge to build
a prosperous future and participate in an ecosystem that supports
and sustains their growth. www.nasdaq.com/nasdaq-foundation.
Cautionary Note Regarding
Forward-Looking Statements
The matters described herein contain
forward-looking statements that are made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements include, but are not limited to, statements about
Nasdaq’s Purpose Initiative and other initiatives, the Nasdaq
Foundation, the Nasdaq GoodWorks program, the Nasdaq
Entrepreneurial Center and Nasdaq’s Smart Investing Portal. We
caution that these statements are not guarantees of future
performance. Actual results may differ materially from those
expressed or implied in the forward-looking statements.
Forward-looking statements involve a number of risks, uncertainties
or other factors beyond Nasdaq's control. These factors include,
but are not limited to factors detailed in Nasdaq's annual report
on Form 10-K and periodic reports filed with the U.S. Securities
and Exchange Commission. We undertake no obligation to release any
revisions to any forward-looking statements.
Nasdaq Media
Contact:
Will Briganti(646) 964-8169william.briganti@nasdaq.com
-NDAQF-
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