Investing in America’s Future: Semiconductor Leaders and Last Mile Unite to Secure the U.S. Workforce

by Ruthe Farmer, Founder & CEO

This November marks a defining moment for the U.S. semiconductor industry — and for the thousands of students whose dreams of becoming engineers and technicians depend on timely support to reach the finish line of their degrees.

Today, Last Mile Education Fund announced the launch of the Semiconductor Pathways Fund, a first-of-its-kind, industry-wide initiative designed to close critical talent gaps in the U.S. semiconductor workforce by enabling financially vulnerable college students to complete their degrees and enter high-demand roles.

The fund builds on Last Mile’s proven model of targeted support, typically under $3K per student, to help financially vulnerable students cross the finish line & launch into careers

The Fund launches with visionary backing from across the semiconductor ecosystem — Applied Materials as founding partner, joined by Lam Research, KLA Corporation, and Cadence Design Systems as inaugural investors. Together, these companies are aligning around a shared goal: ensuring the next generation of engineers and technicians make it from classroom to career.

“Every year, thousands of talented engineering students are lost to small, solvable financial barriers,” said Ruthe Farmer, Founder & CEO of Last Mile Education Fund. “The Semiconductor Pathways Fund ensures they complete their degree and enter the workforce this industry urgently needs.”

A Solvable Crisis in the Talent Pipeline

By 2029, the U.S. faces a projected shortfall of up to 146,000 engineers and technicians needed to power the next era of semiconductor innovation. Yet each year, roughly 14,000 students already on the path to technical careers drop out — not because of academic failure, but due to modest, solvable financial setbacks like car repairs, rent increases, or tuition shortfalls.

These are the future chip designers, process engineers, and materials scientists our nation can’t afford to lose — especially as the U.S. invests billions through the CHIPS and Science Act to bring semiconductor manufacturing back home. The bottleneck isn’t just fabrication capacity; it’s talent.

Traditional financial aid rarely reaches these students. The system assumes a straight path through college: full-time attendance, stable housing, predictable income. The reality looks much different. Many of these students balance coursework with employment, caregiving, or family responsibilities — and when an unexpected expense hits, graduation can suddenly fall out of reach.

That’s where Last Mile’s catalytic capital model steps in: fast, flexible awards that turn setbacks into success.

A Proven Model with Exceptional ROI

The Semiconductor Pathways Fund builds on Last Mile’s proven model of rapid, targeted support, typically under $3,000 per student, to help financially vulnerable students cross the finish line and launch into their careers

On average, each dollar invested delivers a 246× return in lifetime earnings and reduced public costs — a data-verified social ROI that rivals the most efficient philanthropic investments in workforce development today.

For corporate and foundation partners, this isn’t charity — it’s a strategic investment in the stability, diversity, and sustainability of America’s technical talent pipeline.

“Every time I go to work, I remember that Last Mile and Applied Materials believed in me before I even graduated,” said Danayit M., a Last Mile alumna and now a semiconductor engineer. “That kind of investment builds loyalty, innovation, and the future workforce. With greater investment, we can open those same doors for thousands more students.”

Uniting an Industry Around Shared Stewardship

What makes the Semiconductor Pathways Fund historic isn’t only its scope — it’s the collective leadership behind it. For the first time, major U.S. semiconductor companies are joining forces — rather than competing — to address the workforce shortage collectively.

This level of cross-industry collaboration is unprecedented, signaling a shift from competition to shared stewardship of America’s technical workforce. By aligning on a single, scalable mechanism for student support, these partners are modeling what inclusive, data-driven workforce investment looks like at national scale.

From Applied Materials’ early vision to Lam Research’s advocacy for equitable access, KLA’s commitment to technical excellence, and Cadence’s investment in the innovation pipeline, the fund represents a unified belief that talent, not technology, is the ultimate differentiator for America’s semiconductor future.

Students within four semesters of graduation pursuing disciplines central to semiconductor innovation — electrical, mechanical, and chemical engineering; robotics; materials science; and semiconductor manufacturing — may be eligible for support. The Fund supports students in disciplines central to semiconductor innovation — including electrical, mechanical, and chemical engineering, as well as robotics, materials science, and semiconductor manufacturing.

Catalyzing Expansive Growth

At Last Mile, the mission has always been clear: meet students where they are, remove barriers, and unlock potential. Since its founding, the organization has supported thousands of students nationwide who were academically on track but financially vulnerable — students who simply needed someone to believe in them and bridge the gap between promise and opportunity.

The Semiconductor Pathways Fund extends that vision into one of the most critical, high-growth industries in the world. By combining industry resources with Last Mile’s agile, student-centered approach, the fund builds the bridge between education and employment, between potential and progress.

Join the Movement

The semiconductor workforce challenge is not inevitable — it’s solvable. And the solution starts with students already on the path.

Investors, foundations, and corporate partners are invited to join this growing coalition — expanding access, accelerating degree completion, and securing the next generation of semiconductor innovators.

Visit lastmile-ed.org/semi to explore partnership tiers, co-investment opportunities, or initiate a contribution.

Because when we invest in students, we invest in America’s future.

About Last Mile Education Fund
Last Mile Education Fund takes a bold, innovative approach to expanding economic mobility and workforce growth by closing financial gaps for students in their final stretch to graduation. By advancing degree completion in tech and engineering, Last Mile strengthens the nation’s talent pipeline and delivers measurable returns for industry and society. Learn more at LastMile-ed.org/impact and follow @LastMileFund on all social channels