Semiconductor Industry Leaders and Last Mile Education Fund Launch First-of-Its-Kind Fund to Tackle U.S. Talent Shortage

Applied Materials, Lam Research, KLA, and Cadence unite with Last Mile to keep future semiconductor engineers and technicians on track to STEM degrees nationwide.

LAFAYETTE, Colo., Nov. 3, 2025 /PRNewswire/ -- The Last Mile Education Fund today announced the launch of the Semiconductor Pathways Fund, an industry-wide initiative 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 is the first national effort dedicated to college and technical school students in STEM who aspire to careers in the semiconductor industry.

The challenge is urgent. By 2029, the U.S. faces a projected shortfall of up to 146,000 engineers and technicians, even as 14,000 students already on the path to technical careers drop out each year—derailed by modest financial setbacks like car repairs, rent increases, or tuition shortfalls.

The Fund addresses this crisis head-on by providing rapid, flexible awards—typically under $3,000 per student—to enable degree completion. On average, each dollar invested delivers a 246x return in lifetime earnings and reduced public costs.

"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."

The Fund launches with visionary support from across the semiconductor ecosystem—Applied Materials as founding partner, and inaugural investments from Lam Research, KLA Corporation, and Cadence Design Systems.

"Every time I go to work, I remember that Last Mile believed in me before I even graduated," said Dayanit 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."

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.

See eligibility criteria and apply here, or explore investment and partnership opportunities here.

Media Contact:
Ruthe Farmer, Founder & CEO
[email protected]

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.

SOURCE Last Mile Education Fund