December 9, 2011
The Startup America Partnership board convened yesterday and announced over $475 million in new committed resources. The new infusion of resources from more than 50 companies now pushes Startup America’s total commitment value to over $1.2 billion. Since the release of this platform back in September, more than 2,000 startups have joined the Start America Partnership. This latest bout of resources comes as a direct response from these firms requesting additional help.
Chairman of the Startup America Partnership, Steve Case, who announced last week the creation of a fund for DC-based start-ups, feels that this is not only a win for the immediate benefactors, but the U.S. economy on the whole. In his own words,
“Startup America Partnership is focused on helping young companies grow because with their success comes job creation and a stronger American economy.”
CEO of the Partnership, Scott Case (of no relation to Steve), urges all early stage companies to take advantage of this new offering. “Every startup in the country should register now to utilize these resources and jumpstart their growth,” said Case.
The $475 million in new resources is broken into five different categories: Expertise, Services, Talent, Customers, and Capital.
Some of the highlight partnerships in this new deal are as follows:
- Top Prospect – This San Francisco-based startup is a leading social web application that helps companies find great candidates through crowdsourced social referrals. Top Prospect will waive listing fees for three jobs per month for six months for all Startup America Firms. Estimated value: $54 million
- The Resumator – The Pittsburgh-based, small business recruiting software platform, is offering Startup America firms a free six-month special Startup Plan subscription. Estimated value: $12 million
- Accrisoft – The Sarasota, FL-based web solutions firm “creates complete, hosted software products that include everything web development companies need to take control of their businesses.” Accrisoft is providing 1,000 firms with free websites for one full year. Estimated value: $1.8 million
- Proforma Global – The Baltimore-based print and promotional product supplier is offering a discounted price on their printed materials, promotional products, apparel, website design, and visibility and multimedia services. Estimated value: over $50 million
- Emma – This Nashville headquartered e-mail marketing service helps small and midsize businesses manage their email campaigns, newsletters, and online surveys. Emma is providing firms six months of free service, 20% discount for life following that, and a free email template. Estimated value: $86 million
- Lendio – The South Jordan, UT-based online platform “makes small business loans easy” by matching business owners to a variety of loan options from more than 3,000 lenders nationwide. Lendio is offering free premium memberships and discounts on all related products. Estimated value: $54 million
- Cooley LLP – Headquartered out of Palo Alto, this global law firm focused on helping emerging companies grow is offering a flat-fee package that will be available to five Startup America companies each month through 2012.
The Startup America Partnership is not only a victory for the startups receiving the discounts, but also the firms involved in the partnership. Through offering free-trials and exclusive discounts, these companies are creating a business relationship with some of the most promising business entities in the nation. By scaling back on their costs upfront, these startups can get the hard start necessary to thrive in an otherwise uninviting economy.
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