Medtronic Launches Bold 10-Year Global Initiative
GALWAY, Ireland – Medtronic, a leading global healthcare technology company, has announced the launch of Medtronic Spark, a 10-year initiative designed to bring one million low-income students into the health tech sector. This ambitious program aims to help close the widening skills gap in a rapidly expanding industry by offering education, training, and financial support.
The Medtronic Spark initiative comprises three key programs: Medtronic Spark Credentials, Medtronic Spark Innovator Labs, and the Medtronic Spark Scholarship. These programs are designed to provide young people from low-income households with the skills and opportunities necessary for well-paying jobs in a sector facing a significant global workforce shortage.
Addressing a Critical Talent Shortage
The health tech industry is grappling with a growing talent shortage. Forecasts indicate a global shortfall of 4.3 million tech workers by 2030, with a simultaneous deficit of 11 million healthcare workers, disproportionately affecting low-income countries and students. Medtronic aims to combat these shortages, especially in the face of growing concerns among Americans.
A recent Medtronic and Morning Consult survey found that 72% of Americans are concerned about healthcare workforce shortages, a greater percentage than any other industry. However, only 35% of those surveyed believe society is prepared to address these shortages, highlighting the urgency of Medtronic’s initiative.
“This initiative, which takes a multifaceted approach to address health tech workforce shortages, reflects Medtronic’s proud 75-year history and unwavering commitment to advancing healthcare and improving lives worldwide,” said Torod Neptune, chairman of Medtronic Foundation.
The Medtronic Spark Programs
Medtronic Spark will focus its efforts in locations around the world where the company has an established presence. The initiative hopes to build on the company’s history of groundbreaking innovations.
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Credentials: This program will offer industry-recognized certifications targeting young adults without degrees, providing them with relevant skills for the evolving job market. With 63% of employers citing skill gaps as a major barrier to hiring and 58% of Gen Z supporting hiring non-degree graduates, alternative pathways are growing in importance.
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Innovator Labs: These labs will provide hands-on innovation opportunities and mentoring in low-income communities, aiming to increase young people’s interest in health tech careers, where only about 42% of high school students participate in hands-on STEM activities, and only 20% are prepared for college-level coursework in STEM majors.
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Scholarship: The Medtronic Spark Scholarship offers financial support that will go beyond typical tuition assistance. The initiative aims to address the barriers that hinder low-income students from completing their degrees, as only 11% of these students who receive financial help complete their education.
About Medtronic
Medtronic plc, headquartered in Galway, Ireland, is a leading global healthcare technology company. The company seeks to solve the most challenging health problems facing humanity and has a mission to alleviate pain, restore health, and extend life. Their work serves over 70 health conditions and includes such technologies as cardiac devices, surgical robotics, insulin pumps, and patient monitoring systems.
