In a broad measure designed to enhance the quality of education at all levels, Qualcomm Incorporated (Nasdaq: QCOM) today announced a $25 million commitment for educational programs that will help with efforts nationwide to bridge the "Digital Divide." The Company has designated the University of California, San Diego (UCSD), San Diego State University (SDSU), California State University San Marcos (CSUSM) and the Foundation for the Improvement of Mathematics and Science Education as recipients of this donation. The contribution is spread over a five-year period, beginning in fiscal year 2001.
Earlier today, President Clinton began his "Digital Opportunity" tour, highlighting private and public sector efforts to reduce the divide through the deployment of advanced technology and corporate philanthropy. Dr. Irwin Mark Jacobs, chairman and CEO of Qualcomm, joined the President in East Palo Alto, Calif. to demonstrate Qualcomm's support to help individuals gain greater access to information-age tools and the skills to use them.
"At Qualcomm, we have long recognized that the digital divide is a business issue that needs to be addressed to allow the high technology industry continued access to a highly skilled workforce," said Dr. Jacobs. "Today, we are acknowledging that the digital divide is also clearly a social and economic issue. Qualcomm's continuing commitment to education focuses on providing resources for the development and training of math and science teachers in San Diego, and strengthening the relationship among San Diego's universities, our local kindergarten through twelfth-grade system, and our larger community. We believe that wireless technology, such as Qualcomm's High Data Rate technology, will help make Internet access affordable and maintainable in all regions of the country, and that wireless devices will become low-cost communications and computer terminals for use by all."
Qualcomm's contribution will be divided among the following organizations.
University of California Research Institutes: Qualcomm will provide $15 million spread over a five-year period as a matching contribution in support of a new proposed State of California initiative to create three new research institutes for science and innovation within the University of California system. The core objectives of the institutes are to ensure and expand California's technological leadership and economic prosperity, and to apply these technologies in ways that will enrich the lives of people everywhere. Qualcomm's donation will support the creation of a Telecommunications and Information Systems research institute at UCSD, one of the institutes that competes for state funding support. In collaboration with UCSD, Qualcomm will structure new investments for chairs, professorships, fellowships and scholarships primarily in the School of Engineering and Graduate School of International Relations and Pacific Studies.
San Diego State University: SDSU will receive $6 million spread over a three-year period. The investment will be divided among the Entrepreneurial Management Center of the College of Business Administration; the Center for Research of Mathematics and Science Education, which brings together researchers interested in studying how individuals acquire knowledge in mathematics and science; and the College of Education, supporting improved math and science instructional skills of kindergarten through twelfth-grade teachers.
Foundation for the Improvement of Mathematics and Science Education: Qualcomm will provide $3 million over a three-year period to a new non-profit foundation which will support efforts to increase student achievement in math and science in kindergarten through twelfth grades. Qualcomm and other organizations in San Diego will partner to support this foundation that will work with the San Diego Unified School District and the higher education community to fund and develop programs in many areas, including curriculum development and professional development. A portion of Qualcomm's investment will also support the District's efforts to regain National Science Foundation funding.
California State University, San Marcos: CSUSM will receive $1 million over a two-year period. As a newer university, the investment will support the emerging College of Business Administration.
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's business areas include integrated CDMA chipsets and system software; technology licensing; Eudora® email software for Windows® and Macintosh® computing platforms; satellite-based systems including portions of the Globalstar™ system and wireless fleet management systems, OmniTRACS® and OmniExpress™. Qualcomm owns patents that are essential to all of the CDMA wireless telecommunications standards that have been adopted or proposed for adoption by standards-setting bodies worldwide. Qualcomm has licensed its essential CDMA patent portfolio to more than 75 telecommunications equipment manufacturers worldwide. Headquartered in San Diego, Calif., Qualcomm is included in theS&P500 Index and is a 2000 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, , as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 26, 1999, and most recent Form 10-Q.