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White House Startup America Partnership Looks To Foster Innovation

January 31, 2011

10:08 am

Today as part of President Obama’s national strategy to stimulate economic growth and the creation of quality jobs, the White House announced the launch of the Startup America Partnership. Lead by chairman Steve Case, the co-founder of AOL, CEO of Revolution LLC and chairman of the Case Foundation, the partnership will receive launch funding from the Ewing Marion Kauffman Foundation and the Case Foundation, and act as an independent private-sector alliance intended to dramatically increase the development, prevalence and success of innovative, high-growth U.S. firms.

According to the release, the following companies are supporting the partnership thus far:

  • Increased corporate investment and support for startups from companies such as Intel, HP, IBM, Facebook and others, including:
    • Intel Capital will commit $200M of new investment in U.S. companies. Senior Intel leadership will also serve the Startup America Partnership and share best practices from years of successful programs designed to support Intel portfolio companies.
    • IBM will invest $150 million in 2011 to fund programs that promote entrepreneurs and new business opportunities in the United States.
    • HP is investing more than $4 million in 2011 in the HP Learning Initiative for Entrepreneurs (HP LIFE), a global program launched in 2007 that uses educational and technology outreach aimed at helping entrepreneurs and small business owners create and grow commercial opportunities.
    • As part of Facebook’s ongoing commitment to encourage entrepreneurs, the company will launch Startup Days, a new series of 12 to 15 events around the country designed to provide entrepreneurs with access to expertise, resources and engineers to help accelerate their businesses.
  • To foster entrepreneurship through higher education, as part of its overall $50 million commitment to entrepreneurship, The Blackstone Charitable Foundation has announced a $5 million expansion of the Blackstone LaunchPad program piloted at two Detroit colleges. Based on a model created by the University of Miami, LaunchPad will be replicated over the next five years in five other distressed regions around the country.
  • The Network for Teaching Entrepreneurship (NFTE), a nonprofit that provides entrepreneurship education for at-risk high school students from low-income communities, is launching new programs supporting young entrepreneurs and their teachers.
  • Ernst & Young LLP will honor NFTE youth entrepreneurs at regional Ernst & Young Entrepreneur Of The Year Award® galas across the country, bringing important attention to the next generation of young entrepreneurs.
  • The Pearson Foundation is working with NFTE to build its Digital Teacher Network, a free online community for teacher collaboration and training that will be used not only by NFTE’s 5,000 certified teachers but also by any educator interested in entrepreneurship.
  • Google is sponsoring two new efforts in NFTE’s Bay Area programs: The Flat Classroom Exchange will allow local educators to team-teach the NFTE program in real time and leverage each teacher’s individual expertise, while the Makers Class project will integrate NFTE’s curriculum with invention and engineering lessons.
  • New Markets Education Partners is providing NFTE with seed capital to launch in 2011 an interactive, online business planning course and social network connecting mentors, teachers, and students.

Check out the Startup America fact sheet below.
Startup America Partnership Fact Sheet
We cover innovations 24×7 so we were excited to awake to an announcement by the White House (which is only a few minutes from our DC HQ). We’ll have a Tech Cocktail representative at a special meeting at the White House today in regard to the launch of the initiative, so stay tuned in case we have photos or additional coverage. If you are not in attendance, you can watch it live at 11 a.m. EST here: whitehouse.gov/live (above). Also you can participate via your favorite social media sites (Twitter, Facebook, YouTube, Flickr, etc) by using the hashtag #startupamerica and sharing your startup story.

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Frank Gruber is the cofounder, CEO and Executive Editor of Tech.Co (formerly Tech Cocktail). He is the author of the book, Startup Mixology, Tech Cocktail’s Guide to Building, Growing, and Celebrating Startup Success. He is also a startup advisor and investor to startups. Find Frank Gruber online and follow him on Twitter at @FrankGruber.

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