Cognizant Has Awarded $70 Million to Advance Globally Diverse Communities

In support of its Synapse initiative, Cognizant (NASDAQ:CTSH)'s philanthropic funding reaffirms its long commitment to training individuals for the jobs of the future

TEANECK, N.J., April 11, 2024 /PRNewswire/ -- Cognizant  (Nasdaq:  CTSH), a leading global technology company, has awarded $70 million in philanthropic funds through 117 grants to 77 organizations globally since 2018. This milestone builds on Cognizant's long history investing philanthropic dollars into global skilling programs and building partnerships that drive economic mobility for under-represented communities. More recently, Cognizant's corporate giving effort has been embedded as a key part of the company's Synapse initiative to train one million individuals for the jobs of the future by the end of 2026.

Cognizant has a deep history of investing in training and educating the global workforce, as well as uplifting underrepresented communities and marginalized groups through pathways to success.  As a key part of Cognizant's recently launched Synapse initiative, philanthropic dollars, community partnerships and volunteerism will aim to help 300,000 individuals make successful career transitions into technology and future forward AI jobs.

Commenting on these initiatives, Tobi Young, Senior Vice President and Chief Corporate Affairs Officer at Cognizant, said, "Cognizant launched Synapse as part of our commitment to skilling and preparing the workforce for AI and the digital economy. We are proud to invest with our nonprofit and community education partnerships to equip individuals with new technology skills, to sustain communities as the digital economy grows, and to improve economic opportunities for all."  

Cognizant focuses its skilling investments on organizations that 1) provide early access to learning and networking; 2) create pathways for individuals entering or advancing their careers in tech, and 3) inspire new ideas that push the technology industry forward in support of skilling.  Taken together, these organizations have been instrumental in inspiring, educating, and preparing communities and individuals of all ages to succeed in today's rapidly evolving workforce.  In 2023 alone, a sampling of Cognizant's global corporate giving includes:

1. Organizations that provide early access to learning and networking, such as:

• Girlstart
•  Supporting year-round STEM education for girls. In 2024, Girlstart aims to reach 1,800+ 4th and 5th grade girls through 88 After School programs in Texas, California and Massachusetts as well as 900+ girls in grades 4-8 through 36 thematic, STEM-intensive summer camps.
• Raspberry Pi Foundation
• Supporting the Code Club and CoderDojo programs in the UK, offering free and accessible opportunities for young people to learn how to code and create with digital technology. These clubs are delivered locally by educators and volunteers in community venues such as schools and libraries, and 17,000 students are expected to directly benefit from this investment.
• Year Up
• Supporting Year  Up's direct service and innovative workforce development programs across the country in regions like Atlanta, Austin, Bay Area, Charlotte, Chicago, Dallas, Denver, New York, Phoenix and more. Funding helps enable Year Up to continue implementing their job training  programs, explore new program models, and improve internal organizational operations to better serve 4,000+ young adults in 2024.

2. Organizations that create pathways for individuals entering and advancing their careers in tech, such as:

• Blind Institute of Technology
  • Supporting the Blind Institute of Technology's Academy, which delivers industry-relevant technical skills training and credentialling to disabled job seekers who want to increase their wage potential and find meaningful work.
• Code Platoon
  • Supporting Code Platoon's Full-stack software engineering and DevOps cloud engineering training programs in 2024. Since 2016, CodePlatoon has graduated over 500 veterans and military spouses, 74% of whom have found a job within 6 months of graduation.
• ReDI School of Digital Integration
  • Supporting the  ReDI School of Digital Integration in Germany as it empowers individuals who might otherwise be excluded from the tech landscape. This will contribute to the creation of a diverse, skilled, and interconnected global community. Funding from Cognizant supports the Digital Career Program, which offers high-tech courses for students who want to develop a career in the tech industry, and The Digital Women Program, which works to empower women in tech.
• ICT Academy
  • Cognizant Foundation India, under its flagship "Tech4All" initiative has partnered with ICT Academy, Tamil Nadu to train 5,000 underprivileged women graduates with advanced tech skilling by establishing a Centre of Excellence for Women Empowerment in 71 colleges across the Indian states of Karnataka, Kerala, Tamil Nadu, and Telangana. The objective of the project is to empower women graduates with essential industry 4.0 skills and ensure their preparedness for the dynamic job market.

3. Organizations that inspire  new ideas that push the technology industry forward in support of skilling, such as:

• National Governors Association Center for Best Practices, Workforce Innovation Network
• National Governors Association Center for Best Practices (NGA Center), Workforce Innovation Network: Supporting Phase III of the NGA Center's Workforce Innovation Network to elevate public and private sector leaders who are advancing innovative workforce solutions that prepare workers for the jobs of tomorrow. The gift supports convenings of governors' advisors and state policy makers, as well as thought leadership to advance the field and assistance states aiming to implement best practices.
• Work Shift, AI & Economic Opportunity Reporting Initiative
• Supporting in-depth reporting on the ways that artificial intelligence is reshaping education and work”with a particular focus on whether its use is exacerbating inequalities or opening new doors to economic advancement. The project will zero in on 1) AI's specific role in building (or hindering) better connections between postsecondary education and work, 2) the potential impacts on economic advancement for people in the bottom half of the income strata, and 3) concrete examples of how AI's use is already impacting postsecondary education and work.

Cognizant's Synapse initiative is aimed at preparing and equipping individuals from diverse backgrounds, worldwide, who have lacked access to technology skills to participate and thrive as more jobs become dependent on technology knowhow. Cognizant believes that a key ingredient in sustainability is investing in training and upskilling so that individuals are empowered with the technology skills to maintain their livelihoods and communities. For more information on Synapse, visit here.

About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at  www.cognizant.com  or @cognizant.