Apple is committing $50 million to increasing tech field diversity

Apple wants to increase the diversity down in Cupertino and is kicking things off with a $50 million investment. The company will begin a multi-year effort in partnership with some non-profit organizations to increase the number of minorities, veterans, and women working in the technology field. Most of this money will go towards educating and training new entrees and will also have a paid internship program for “particularly promising students.”

It’s a big week for Apple. On Monday the iPhone-maker unveiled the latest addition to its ecosystem of devices, a smart watch whose price will range from $350 to $18,000. On Tuesday, the company kicks off its annual shareholders’ meeting in Cupertino, Calif. But there’s more. In an exclusive interview with Fortune, Apple’s human resources chief Denise Young Smith said the company is partnering with several non-profit organizations on a multi-year, multi-million-dollar effort to increase the pipeline of women, minorities, and veterans in the technology industry—and, of course, at Apple. “We wanted to create opportunities for minority candidates to get their first job at Apple,” said Young Smith, who took over as its head of HR a little over a year ago. (Before her current role, the longtime Apple exec spent a decade running recruiting for the retail side of the business.) “There is tremendous upside to that and we are dogged about the fact that we can’t innovate without being diverse and inclusive.”