Posts Tagged ‘Startup America’

Still confused about Presidant Obama’s Startup America program? Well, Austan Goolsbee, Chairman of the Council of Economic Advisers, has drawn everything out for you on a white board.

As part of the White House White Board series, Goolsbee explains how the public-private initiative is trying to get entrepreneurs over the “valley of death.” He actually presents a fair overview of how it’s all theoretically supposed to work: Entrepreneurs need capital, less red tape, mentorship, and low taxes.

He goes on to say that “Americans understand the business model of a kid in a garage who creates the giant company. We invented it! We’ve done it before, we’re doing it now, and with Startup America we’re gonna do it better than ever!”

You said it Michael Scott! Er… I mean Chairman Goolsbee.

TechStars, the Boulder based startup incubator and seed financer, is now launching TechStars Network – a network of startup accelerator programs around many cities in US and the world. The accelerators in each city will be independently owned and operated, but will receive professional advice, best practice guidance, networking aids from other accelerators within the TechStars Network.

Read more

In a bid to encourage U.S. entrepreneurs, the White House launched the Startup America Partnership, a non-profit campaign to encourage the development of new businesses.

With backing from Facebook, IBM, Intel; and leadership from AOL founder Steve Case, Startup America, the campaign pledged to provide $2 billion in matching funds from the Small Business Administration to select startup companies.

In partnership with Colorado-based startup incubator TechStars, the campaign also intends to expand the TechStars mentorship model to nurture 6,000 new entrepreneurs around the country; and encourage large businesses to invest in smaller ones. IBM has pledged to invest $150 million in new entrepreneurs, and Intel has pledged $200 million, according to U.S. Chief Technology Officer Aneesh Chopra.

Other partners include Facebook, which intends to host startup events around the country, HP, and Google.

Startup America will be funded in part by Case’s Case Foundation and the entrepreneurship-focused Kauffmann Foundation.