The San Diego Regional Economic Development Corp. launched a new initiative to meet San Diego’s future talent needs. The city will use a $3 million investment from JPMorgan Chase to fund the Advancing San Diego initiative.

Most of the $3 million will be used to subsidize internships at local companies, with nearly half of the funds supporting internships at small businesses. The first working group will specifically focus on software, with 17 companies anticipating a need for more than 7,200 new software jobs in the next three years. Those companies include large tech firms, such as Qualcomm, Viasat and Illumina, as well as startups LunaDNA and Aira.

“Talented and skilled workers are integral for a strong economy,” San Diego Regional EDC CEO Mark Cafferty said in a news release. “With and through our program partners and stakeholders, we are establishing a first-of-its-kind, employer-led initiative that will measure and aggregate workforce needs while also identifying solutions that align and strengthen our local education systems. We need to ensure that the benefits of our region’s growing innovation economy are reaching all San Diegans.”

The program is the result of a collaboration between the San Diego Regional EDC, the City of San Diego, San Diego Workforce Partnership, United Way of San Diego, and the San Diego & Imperial Counties Community College Association (SDICCCA).