Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced it is donating £100,000 (US$150,000) over a four year period to youth charity The Prince's Trust. This donation will help young people from the UK's most deprived communities to start their own businesses and build successful careers.
Qualcomm's contribution will support The Prince's Trust Business Programme, which provides funding and mentoring support to budding entrepreneurs. The Business Programme has helped more than 70,000 disadvantaged young people set up in business since 1983. Fifty-eight per cent of these businesses are still trading into their third year.
The mobile technology company's donation to The Prince's Trust reinforces its commitment to the development of educated, healthy and culturally vibrant communities throughout the UK. It will add further value by engaging Qualcomm's employees with the charity's work and will forge strong social and financial links between the organisations to build a close, long lasting partnership.
“Many among the UK's talented young generation face financial challenges to realizing their full career potential. Qualcomm is committed to helping provide these young people with the education, training and skills to build successful careers in the technology field,” said John Caterer, managing director of Qualcomm UK. “The Prince's Trust has an important role in helping young people, and we hope that our financial investment and active involvement will help make the charity's youth programmes even more successful.”
In combination with its financial contribution, Qualcomm will also be a prominent member of the charity's Technology Leadership Group, applying the Company's knowledge and expertise to help develop the UK's next generation of technology entrepreneurs. The Prince's Trust Technology Leadership Group is a fundraising and networking forum for the telecoms, media and technology sectors. It has raised more than £7 million to help young people into business with The Prince's Trust.
“We are very excited to be working with Qualcomm, a company known for its commitment to excellence in the European technology industry,” said Julian Barrell, director of fundraising for The Prince's Trust. “We are extremely grateful for the funding which will help us change the lives of young people across the UK.”
Qualcomm Incorporated (Nasdaq: QCOM) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 100 Index, the S&P 500 Index and is a 2008 FORTUNE 500® company. For more information, please visit www.qualcomm.com.
About The Prince's Trust
Youth charity The Prince's Trust helps change young lives in the UK. It gives practical and financial support, developing skills such as confidence and motivation. It works with 14-30 year olds who have struggled at school, have been in care, are long-term unemployed or have been in trouble with the law. The Prince's Trust programmes lead to young people getting back into work, education and training, as well as improving attitudes towards health and lifestyle.
Since the charity was founded by HRH The Prince of Wales in 1976, it has helped over 575,000 young people and continues to support 100 more every day. The Prince's Trust needs to raise around £1 million per week to continue this work. Further information about The Prince's Trust is available at www.princes-trust.org.uk or on 0800 842 842.