At Intel’s CES 2015 press conference, Intel’s CEO Brian Krzanich made a bold and rudder-correcting announcement that the company plans to invest $300 million over the next 5 years to build more diversity within the technology industry through its new Diversity in Technology Initiative.

“I’m announcing our intention to lead by example,” Krzanich said. “I invite the entire tech industry to join us. It’s time to step up and do more.” With that, Intel has pledged to reach “full representation” of women and under-represented minorities in the company’s U.S. workforce by 2020.

While Krzanich didn’t provide any specific goals, the company said full representation means Intel’s workforce will be “more representative” of the talent available in America. Intel’s latest Diversity Report shows that only 24% of it’s workforce is female while 76% of its employees are men; 57% were white, 29% Asian, 8% Hispanic and 4% black. The percentages drop significantly for women and minorities in leadership positions.

“We’re calling on our industry to again make the seemingly impossible possible by making a commitment to real change and clarity in our goals,” said Krzanich. “Without a workforce that more closely mirrors the population, we are missing opportunities, including not understanding and designing for our own customers.”

Through Intel’s Diversity in Technology Initiative, the company has said it will partner with a number of industry groups and organizations to build better representation including:

  • International Game Developers Association
  • E-Sports League
  • National Center for Women in Technology
  • CyberSmile Foundation
  • Feminist Frequency
  • Rainbow PUSH

The company also plans to deepen its engagement with primary education programs focused on underserved areas and expanding its collaborations with computer science and engineering programs at higher education institutions, including minority-serving institutions.