Tuesday, February 23, 2010

Intel Launches $3.5B Effort To Create Jobs

Intel president and CEO Paul Otellini said today in a speech in Washington, D.C., that the firm is launchinga n effort to help increase the amount of jobs for recent college graduates. Otellini said that the Intel-led effort, the Invest in America Alliance, includes a commitment by Intel Capital and 24 other venture capital firms, to invest $3.5 billion in U.S.-based technology companies over the next 2 years. Intel itself is putting up $200M in the Intel Capital Invest in America Technology Fund, investing in clean technology, information technology and biotechnology. Intel said that venture firms in the effort include Advanced Technology Ventures, Braemar Energy Ventures, Bridgescale Partners, Canaan Partners, DCM, Draper Fisher Jurvetson, Flywheel Ventures, Good Energies, Institutional Venture Partners, Investcorp Technology Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, Menlo Ventures, Mohr Davidow Ventures, New Enterprise Associates, North Bridge Venture Partners, QuestMark Partners, Sevin Rosen Funds, Storm Ventures, Telesoft Partners, Updata Partners, U.S. Venture Partners, Venrock and Walden International. Corporate partners in the effort include Autodesk, Broadcom Corporation, CDW LLC., Cisco, Dell, eBay, Inc., EMC Corporation, GE, Google, Inc., HP, Liberty Mutual Group, Marvell Semiconductor Inc., Microsoft Corporation, and Yahoo!.