IBM, Intel Invest $350 Million to Fund Entrepreneurs and New Business Opportunities Under Government's New Start-up America Program
HP, Google, Facebook also pledge support to help open market opportunities for new, innovative companies in the U.S.
IBM Corp. said last week that it will pledge $150 million, and Intel Corp. offered $200 million, to help fund programs to encourage entrepreneurs and new business opportunities, as part of the White Houses new Start-up America campaign.
The investment will help us greatly expand the work were doing to build business skills and provide market opportunities for the most innovative new companies in the country, said James Corgel, IBM general manager, Developer and Academic Relations.
These start-ups are tackling some of the countrys most pressing challenges and opportunities, he said.
Intel Capitals $200 commitment to the Start-up America initiative occurs about a year after the vendor allocated a similar amount to spearhead the Invest in America Alliance, an effort with venture capital firms and major businesses to sharpen the countrys competitiveness on a global basis.
Intel is dedicated to creating a culture of investment in the United States that supports American startups and the countrys future competitiveness, said Arvind Sodhani, Intel Capital president and Intel executive vice president.
We are pleased to join the Administration in the effort to help new businesses succeed in the United States and consider this partnership an important opportunity to promote education, innovation and entrepreneurship to maintain a globally competitive economy, he said.
At HP, we know what it takes to build a startup from the garage up, and we see a huge opportunity for our technology, expertise and relationships to support entrepreneurs, said Stephen DeWitt, HP senior vice president and general manager, Personal Systems Group.
Whether their garage days help them grow into small enterprises, move toward successful acquisition or emerge as industry giants, entrepreneurs will find HP is with them all the way.
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