Market Overview

Youth in Underserved Communities Receive Boost from Best Buy

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Teen Tech Center network grows to 21 year-round training locations;

local communities receive additional $20 million in funding;

new public awareness campaign gives teens a platform for their
stories

Best Buy announced today a campaign that will highlight teens from
around the country who participate in the company's Teen Tech Centers, a
network of year-round programs designed to teach technology skills to
youth living in underserved communities. This effort is part of a
previously announced $20 million grant to the Best Buy Foundation to
build out more than 60 of these centers and fund non-profit partners
across the U.S., with the goal of aiding more than 1 million teens each
year by 2020.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180731005157/en/

Naje is one of the students who attend the Best Buy Teen Tech Center at Hope Community Center in Min ...

Naje is one of the students who attend the Best Buy Teen Tech Center at Hope Community Center in Minneapolis, sharing their experiences in videos as the centerpiece of a national paid media campaign launching this week. (Photo: Business Wire)

The awareness campaign focuses initially on three teens living in North
Minneapolis, home to one of the country's largest academic achievement
gaps. Each of these teens wrote and stars in their own spoken word video
intended to highlight their story and the skills they have learned since
enrolling in their local Teen Tech Center. Directed by award-winning
director A.V. Rockwell, the videos will appear across a range of owned
and paid channels and represent the first time Best Buy has publicized
its work with teens from underserved communities through Teen Tech
Centers that will be operating in 60 cities by 2020.

"We believe it's an important responsibility to help cultivate the next
generation of inventors, engineers, developers, designers and
entrepreneurs. When we support our young people, we also make a vital
investment in the future of our communities, families, employees and
business," said Andrea Wood, head of social impact for Best Buy. "Our
awareness campaign gives these inspiring teens the opportunity to share
their stories, and highlights community efforts that we know our
customers and employees care about."

Best Buy has an ambitious goal to prepare 1 million youth annually for
tech-reliant jobs by 2020. The company and its partners are making
progress toward achieving this goal by:

  • Giving youth a voice in first-ever public awareness campaign: Tez,
    Naje and Latrell, high school students who attend the Best Buy Teen
    Tech Center at Hope Community Center in Minneapolis, share their
    experiences in videos as the centerpiece of a national paid media
    campaign launching this week. Each video tells a personal story of how
    these teens are pursuing music, photography and other dreams despite
    the challenges of living in communities that lack tech resources. A
    new site at Bestbuy.com/TeenTechCenter
    provides more information about the youth opportunity gap, the
    featured teens and the Best Buy Teen Tech Center effort.
  • Opening more Best Buy Teen Tech Centers: By September, Best Buy
    will have 21 Teen Tech Centers open across the country to support
    young people with year-round tech tools, training and mentorship.
    These locations also provide post-high school career readiness and
    internship opportunities through a Career Pathways program. A recent
    survey of 234 teens from 11 Teen Tech Center locations affirmed that
    the sites motivate 80 percent of attendees to continue their education
    after high school graduation. By 2020, 60 centers will open across the
    U.S., Canada and Mexico to enable 20,000 teens annually to pursue
    their dreams through technology.
  • Adding $20 million to community grants and program funding: Last
    February, Best Buy announced a one-time contribution of $20 million to
    the Best Buy Foundation to further expand youth support across the
    U.S. Since 1999, the Best Buy Foundation has donated more than $348
    million to local and national non-profit organizations that provide
    educational resources to nurture success in a world filled with
    technology. By 2020, these grants will help nearly 800,000 youth
    annually. Best Buy also continues to expand its popular Geek Squad
    Academy (GSA) program to help teens learn about technology through
    hands-on robotics, coding and other tech training. Nearly 10,000 young
    people are attending 50 GSA camps throughout the U.S. this year.

Details about Best Buy's community programs, partnerships and other tech
education initiatives, can be found in the company's FY18 Corporate
Responsibility & Sustainability Report
.

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