Intel Capital Commits $200 Million as Part of President Obama's "Startup America" Campaign
Intel Capital joins Public and Private Companies and Foundations to Invest in American Entrepreneurs
NEWS HIGHLIGHTS
Intel Capital continues its Invest in America Fund commitment with new $200M pledge
Intel Capital executive joins the Startup America partnership board of advisors
Previous $200M Invest in America Fund commitment for 2010 and 2011 was met in less than one year
"WASHINGTON, D.C., Jan. 31, 2011 – Intel Corporation announced that it has joined President Obama’s Startup America campaign to strengthen entrepreneurship in the United States. As part of this partnership, and in conjunction with its ongoing Invest in America initiative, Intel Capital, Intel Corporation’s global investment organization has pledged to invest another $200 million in American technology companies and joined the campaign’s board of advisors.
“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.”
“Startup America” is a White House campaign to celebrate, inspire and accelerate high-growth entrepreneurship throughout the nation. This coordinated public/private effort brings together an alliance of the country’s most innovative entrepreneurs, corporations, universities, foundations, and other leaders, working in concert with a wide range of federal agencies to dramatically increase the prevalence and success of American entrepreneurs.
Intel Capital’s new $200 million commitment comes almost a year after the launch of the Invest in America Alliance, an Intel led initiative supported by many leading venture capital firms and corporations aimed at further anchoring the nation's competitiveness on the global stage. As part of the Invest in America Alliance, which was announced in Feb. 2010, Intel committed to invest $200 million over two years in U.S.-based growth-oriented industries through its Invest in America Fund. Intel Capital met this original commitment in less than a year.
The Intel Capital Invest in America portfolio companies are addressing areas on the forefront of technology innovation from distributed energy resource management and cloud platform technologies to educational gaming and dynamic mobile video optimization. As these companies grow and create the next breakthroughs in technology innovation, they serve as a strong example of how private sector efforts can complement state and federal programs to foster fast growing, emerging industries with high job creation potential.
Intel believes a culture of investment is essential to keeping the U.S. on the leading edge of technology innovation and stimulating economic activity. Last week, Intel announced plans to invest $100 million directly into U.S. university research over the next 5 years. Intel Corporation is engaged with a number of university research centers to focus on projects in select technology areas that align with the company’s research agenda including visual computing, mobility, security and embedded solutions.
About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.8 billion in over 1,100 companies in 48 countries. In that timeframe, 189 portfolio companies have gone public on various exchanges around the world and 258 were acquired or participated in a merger. In 2010, Intel Capital invested US$327 million in 119 investments with approximately 44 percent of funds invested outside the U.S. and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com."
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