Cognizant to invest USD 100 mn in US tech education

IT firm Cognizant today said it has set up a new non-profit foundation, with an initial grant of USD 100 million, to support STEM (Science, Technology, Engineering and Math) and digital education and skills initiatives for workers and students in the US.
"The grant to the new foundation is a result of anticipated benefits due to recent changes in US tax laws. The new foundation will focus on funding education and skills programmes in multiple cities and states to help improve opportunities for US workers and students," Cognizant said in a statement.
Cognizant is one of the largest technology employers in America. In 2017, it had added more than 6,000 US workers and plans to grow its US workforce by at least an additional 25,000 over the next five years.

According to the US Bureau of Labor Statistics, by 2020, there will be a 1.4-million-person gap between software development jobs and qualified applicants to fill these positions in the US.
As the digital economy expands rapidly and changes the way businesses, organisations and governments operate, we believe it should create opportunities for all Americans, Cognizant CEO Francisco DSouza said.
"Unfortunately, because of a very real skills gap, there are far more open jobs for technical work than there are trained workers to fill them," he added.
The Cognizant US Foundation will directly address the existing technology skills gap through programme that focus on educating a wide range of Americans and preparing them to thrive in the digital era.