Intel pledges $200million investment for technology start ups
1 min read
Intel Capital has pledged to invest $200million in US technology companies as part of President Obama's Startup American campaign. Intel's global investment organisation has also joined the campaign's board of advisors.
Startup America is a White House initiative to inspire and accelerate high growth entrepreneurship and, ultimately, increase future competitiveness.
The financial commitment follows the Invest in America Alliance - an Intel led initiative, announced in February 2010. Intel Capital committed to invest $200m over two years in US based growth orientated industries. The company is also investing $100m directly into US university research as part of a five year focus on technology areas such as visual computing, mobility, security and embedded solutions.
"Intel is dedicated to creating a culture of investment in the United States that supports American startups and the country's future competitiveness," said Arvind Sodhani, president of Intel Capital 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."
