Business & Finance
National Instruments Fund to Support COVID-19 Relief and STEM Education, With USD 2.5m Immediately Deployed
7 April 2020 - - US-based automated test and automated measurement systems provider NI (NASDAQ: NATI) said that USD 2.5m will be immediately deployed from the National Instruments Fund, a donor advised fund established by NI in 2019 with the Austin Community Foundation, to support global and local COVID-19 relief efforts.

The remainder of the USD 7m donor advised fund is expected to be invested in STEM education and community development programmes for underserved and underrepresented groups to promote opportunity and prosperity.

Enabling engineers to innovate quickly, ambitiously and successfully is at the core of NI's business.

And increasing equity in STEM education and the workforce is at the core of NI's giving strategy.

The company's donation brings these two core elements together, helping community partners create solutions to some of the biggest challenges our world is facing.

The USD 2.5m is to be immediately deployed to COVID-19 relief efforts in the Austin metro area and other countries where NI operates, as follows:

USD 1m to be made available as a matching grant to the All Together ATX Fund, created by Austin Community Foundation and United Way for Greater Austin.

The fund will provide flexible resources to nonprofit organizations working with communities who are disproportionately impacted by COVID-19 and the economic consequences of the outbreak.

The grant will match individual and corporate donations, up to a total of USD 1m.

USD 1.5m to be deployed to nonprofit organisations that serve the other communities where NI has major global operations.

The remainder of the fund is expected to be deployed over time to programs that increase diversity and equity in STEM education and the workforce, and that promote community development. The COVID-19 outbreak has had a disproportionate impact on low-income and minority communities.

By funding targeted STEM programs in these communities, NI aims to prevent existing opportunity gaps from widening even further.

NI develops high-performance automated test and automated measurement systems.