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Startup America Receives Additional $400 Million In Support

Written by Ken Gaebler
Published: 4/21/2011

Hewlett-Packard, American Express, Google and many others announced support for Startup America.

Since taking office, President Barack Obama has made small business news by launching a number of initiatives to benefit the sector and spur entrepreneurship. Now, one such program has announced a significant increase in resources.

Startup America Receives Money

Thanks to large corporations such as Google, Microsoft, American Express, Hewlett-Packard and many others, the Startup America Partnership will receive a $400 million boost in resources, The Street reports.

"We're gratified by the response we've seen from the private sector since launching the Startup America Partnership less than 90 days ago," said Steve Case, co-founder of AOL and the program's chairman, according to the source.

"Today's announcement of new commitments highlights the progress we're making to provide entrepreneurs with resources to grow and scale," Case added.

The 15 companies that announced their support Thursday will be joining tech giants Intel and IBM to offer resources and discounts on product pricing as well as entrepreneur-focused events, the source notes.

President Obama has also targeted exporting as a way to get small businesses back on track and begin pulling in greater revenue. 

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