Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Google and Cisco to Join White House Effort for Entrepreneurs

Don't Miss Out —
Follow us on:
Google and Cisco Join White House Effort for Entrepreneurs
Google is contributing $100 million for startup companies to use the company’s advertising services. Photographer: Tony Avelar/Bloomberg

April 20 (Bloomberg) -- Google Inc., Cisco Systems Inc. and American Express Co. are among companies joining an effort by President Barack Obama to promote entrepreneurship, the White House said today in a statement.

The effort, called the Startup America Partnership, is led by AOL Inc. co-founder Steve Case as chairman. It is intended to promote private-sector investments in startup companies and small businesses as a way to improve the economy.

“These new partnerships will go a long way toward ensuring that startups have every best chance to succeed,” the group’s chief executive officer, Priceline.com Inc. co-founder Scott Case, said in the statement.

Google is contributing $100 million for startup companies to use the company’s advertising services. American Express will offer $125 million in purchasing discounts and business services and Cisco will provide training for 6,000 entrepreneurs.

Those commitments, and others by companies such as First Data Corp., Ernst & Young, Microsoft Corp. and Intuit Inc., follow pledges from businesses including Facebook Inc., Intel Corp., Hewlett-Packard Co. and International Business Machines Corp. to increase their investments in startups.

LinkedIn Corp., Salesforce.com Inc. and Silicon Valley Bank are also announcing their involvement.

Obama will travel today to Facebook’s headquarters in Palo Alto, California, for a town-hall meeting about government spending and the need to reduce the budget deficit.

To contact the reporters on this story: Nicholas Johnston in Washington at njohnston3@bloomberg.net; Julianna Goldman in Washington at jgoldman6@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.