-- Created 1,555 new businesses in Bay Area. 70% of graduates are in business within a year of training. -- Two years after training, annual household income for participants in the business training program increases from an average of $14,000 to $37,000. -- Women's Initiative is the recipient of the President's Award for Excellence in Microenterprise Development."We are thrilled to be selected by Cadence for the Stars & Strikes fundraiser," said Julie Castro Abrams, CEO of Women's Initiative. "We've been planning with the city of San Jose and community leaders for well over a year to move forward with extending our program into the South Bay. With the Stars & Strikes pledge, Cadence has provided us with the significant financial commitment to kick off the capital campaign."
"Women's Initiative provides women with the managerial tools and support to lift themselves out of poverty, create jobs, and to become full-fledged participants in the economy," said Mike Fister, president and CEO of Cadence Design Systems, Inc. "I am impressed by the innovative programs and success in San Francisco and the East Bay. We are pleased that Cadence can play an integral part in bringing this important organization to San Jose to help low income women start successful businesses and share in the entrepreneurial spirit of Silicon Valley."
Headquartered in San Jose, CA, Cadence, the world's leading electronic design software provider, has been raising money to meet community needs through its annual Stars & Strikes fundraising program and bowling tournament since 1990. With the expenses underwritten by Cadence, Stars & Strikes is one of the largest fundraising events in Silicon Valley. The event provides an opportunity for Cadence's partners in business to come together as partners in the community, and every dollar raised is invested back into the community. In the past 16 years, the program has raised nearly $9 million to fund major programs and projects that provide significant benefits to local non-profit organizations.
The main event of the corporate fundraising effort, the Stars & Strikes bowling tournament, will take place on Saturday, May 12. The San Francisco 49ers Foundation, who for the last three years has teamed with Cadence, will once again bring out their star players and coaches for the big event in 2007. Companies interested in participating in the bowling event on May 12 may call Kathy Wheeler, Cadence's manager of global community involvement, at (408) 428-5993 or email Email Contact.
Cadence enables global electronic-design innovation and plays an essential role in the creation of today's integrated circuits and electronics. Customers use Cadence software and hardware, methodologies, and services to design and verify advanced semiconductors, consumer electronics, networking and telecommunications equipment, and computer systems. Cadence reported 2005 revenues of approximately $1.3 billion, and has approximately 5,200 employees. The company is headquartered in San Jose, Calif., with sales offices, design centers, and research facilities around the world to serve the global electronics industry. More information about the company, its products, and services is available at www.cadence.com.
About the Women's Initiative
Women's Initiative for Self Employment provides a safe, supportive environment where high-potential, lower-income women can receive the help they need to start and grow their own businesses. In 2007 the agency has expanded services to Santa Clara, Marin and Contra Costa Counties. Women's Initiative offers a 20-session business training course, individual coaching and financing services in both English and Spanish. Women graduate with a business plan and the self-confidence to make it work. After graduation, clients can access much-needed capital through our matched savings program and our loan fund. For more information visit: www.womensinitiative.org
Cadenceand Stars & Strikes are registered trademarks and the Cadence logo is a trademark of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.
For more information, please contact: Nancy Szymanski Cadence Design Systems, Inc. 415-420-5008 Email Contact