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Startup America Partnership Secures Over $400 Million in Commitments to Support High-Growth Entrepreneurship

Strategic Insights

— 2 min read

In response to President Obama's call to action, the Startup America Partnership has announced a new wave of commitments from over 15 companies and organizations to deliver strategic and substantive resources to accelerate entrepreneurs. These new private-sector partnerships provide more than $400 million in value to U.S. entrepreneurs, building upon 20+ commitments already secured by the Startup America Partnership. The initiative aims to help create a strong ecosystem for startups in the country, acknowledging that young businesses have created 40 million jobs over the past 25 years.

Key Takeaways:

  • The Startup America Partnership has secured over $400 million in commitments from 15+ companies and organizations to support high-growth entrepreneurship.
  • American Express offers over $125 million in value to Startup America Partnership member companies through special access and pricing for products and services.
  • Cisco will provide training to approximately 6,000 entrepreneurs across 50 cities by January 2014, valued at over $3 million.
  • Ernst & Young has committed over $7.5 million to work with Startup America Partnership Speedup companies, leveraging EY professionals and the Entrepreneur Of The Year (EOY) network as advisors and mentors.
  • Google is committing up to $100 million to Startup America Partnership member companies to enable entrepreneurs to promote their companies with Google advertising over the next year.
  • HP will offer discounts across its commercial product categories to Startup America Partnership member companies, with estimated savings of $100M over three years.
  • IndieGoGo will offer Startup America Partnership member companies and entrepreneurs the opportunity to raise $30 million of funding at a 50% discount on campaign fees.
  • Intuit will invest $37 million in products and services to promote high-growth entrepreneurship across the country.
  • LinkedIn will serve as the platform on which Startup America Partnership member companies can build their identity, grow their networks, and gain insights to help make them more productive and successful.

Statistics:

  • Over $400 million in commitments from 15+ companies and organizations.
  • 40 million jobs created by young businesses over the past 25 years.
  • 6,000 entrepreneurs to be trained by Cisco across 50 cities by January 2014.
  • $3 million in value provided by Cisco to the training initiative.
  • 7.5 million dollars in commitment by Ernst & Young to work with Speedup companies.
  • 10s of millions of dollars in potential funding via IndieGoGo for Startup America Partnership members.

Sources:

  • The Startup America Partnership press release.
  • American Express press release.
  • Cisco press release.
  • Ernst & Young press release.
  • Google press release.
  • HP press release.
  • IndieGoGo press release.
  • Intuit press release.
  • LinkedIn press release.
  • Microsoft press release.
  • Salesforce.com press release.
  • Silicon Valley Bank press release.
  • The National Center for Women & Information Technology (NCWIT) press release.
  • Palindrome Advisors press release.
  • Angel Capital Association (ACA) and Angel Resource Institute (ARI) press release.
  • The National Venture Capital Association (NVCA) press release.

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