Medtronic Spark will provide young people from low-income households the skills needed for well-paying jobs in a growing industry facing a global workforce shortage
CLAREGALWAY, IE / ACCESS Newswire / March 3, 2025 / Medtronic, a global leader in healthcare technology, today announced the launch of Medtronic Spark, a 10-year initiative aimed at propelling one million low-income students into health tech careers. The initiative seeks to help address the growing health tech talent gap through three programs: Medtronic Spark Credentials, Medtronic Spark Innovator Labs, and the Medtronic Spark Scholarship.
By 2030, the tech sector, including health tech, will face a global talent shortage of 4.3 million people. Making matters more urgent, the World Health Organization predicts there will be shortfall of 11 million health workers, disproportionately impacting outcomes for low-income countries and low-income students.
"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. "By investing in future talent, we're creating a well-trained and capable workforce, ensuring growing healthcare needs will be answered in the future."
A new Medtronic and Morning Consult survey found 72% of Americans are concerned about healthcare workforce shortages, more than any other industry. Only 35% of those surveyed say society is prepared to handle these shortages.
The demand for future talent is clear with the global health tech industry projected to reach $775 billion by 2029 and many young people are ready to take advantage of the opportunity. A global study of 700,000+ respondents found that young people's highest priority is getting the education, skills and competencies to allow them to enter the workforce and build successful careers.
"We want to ensure that we are not just touching young people's lives but truly changing the trajectory of their lives with future opportunities in health tech that have potential for lasting generational impact," said Sally Saba, president of Medtronic Foundation.
About the Medtronic Spark initiative
Through Medtronic Spark, which will be focused in locations around the world where Medtronic has an established presence, the company hopes to build on a tradition of creating groundbreaking innovations that have revolutionized patient care. The initiative targets a new generation of workers by offering:
Credentials: A first-of-its kind industry-recognized certification will equip non-degree young adults with in-demand skills for the evolving job market. Expanding alternative pathways into tech careers benefits businesses and workers, as 63% of employers cite skill gaps as a major barrier and 58% of Gen Z supports hiring non-degree graduates.
Innovator Labs: Experiencing hands-on innovation opportunities and mentoring in low-income communities can help young people be more prepared for and interested in health tech careers. Currently, only 42% of high school students engage in hands-on STEM activities and only 20% of high school graduates are prepared for college-level coursework in STEM majors.
Scholarship: Provide low-income students with a scholarship that goes beyond traditional tuition support. Only 11% of low-income students who receive financial help complete their degrees. The Medtronic Spark Scholarship aims to help address the wide range of barriers needed to successfully complete a degree.
About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission - to alleviate pain, restore health, and extend life - unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic, visit www.Medtronic.com and follow Medtronic on LinkedIn.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
Contacts:
Erika Winkels
Public Relations
+1-763-526-8478
Ryan Weispfenning
Investor Relations
+1-763-505-4626
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SOURCE: Medtronic
