What is the Startup America Partnership and why are tech giants such as Facebook, Google and Microsoft investing more than $400 million?
The Startup America Partnership is a joint effort between the White House and the private sector to create a "coalition of mentors, advisors, funders, major corporations and service providers to deliver strategic and substantive resources to help entrepreneurs start and scale companies," according to the Startup America Partnership website.
The website also is a resource for budding entrepreneurs, for all stages of starting a business: idea, or when first working on a business plan; startup, just after a business has been started and entrepreneurs need to grow; rampup, when a startup has grown to need office space and more employees; and speedup, the final phase where the startup's growth may be accelerating very quickly. At all stages, entrepreneurs need advice, help, funding and other resources to help along the way.
Already the coalition has more than 20 corporate commitments from companies such as:
Cisco: Will provide outsourced training to approximately 6,000 entrepreneurs within 50 cities by January 2014. Value: $3 million.
Google: Committed to providing Google advertising to Startup America Partnership member companies over the next year. Value: $100 million
HP: Offer discounts across its commercial product categories (laptops, desktops, workstations, Palm smartphones, tablets, printers, wireless routers, servers, and more), to Startup America Partnership member companies. Value: $100 million over three years.
Intuit: Intuit Inc. will be offering discounted products and services including QuickBooks Online, Intuit Payroll Services, QuickBooks Merchant Services and Intuit Websites. Value: $37 million.
Microsoft: Offering its BizSpark program, established in 2008, to all qualified software startups in the Startup America Partnership. It provides free access to Microsoft’s software portfolio for three years including support, training and access to Windows Azure, Microsoft’s Cloud Services Platform. Value: Unknown.
Facebook so far has only donating some time and space, so hasn't been included in the actual investor category. While this won't create ideas or radically change the number of startups, it sure helps. So, isn't this something for Silicon Valley to get excited about?· ·
Published at 2:12 PM PDT on Apr 20, 2011 | Updated at 5:32 AM PDT on May 5, 2011