Technologists have been worrying aloud for years that America is losing its competitive edge as other countries invest more heavily in technology education and innovation.
To counter that trend, Intel and 24 venture capital firms said Tuesday that they planned to invest $3.5 billion in American start-ups over the next two years, The New York Times’s Claire Cain Miller reported.
In addition, Intel, Google, Cisco Systems, Microsoft and 13 other employers pledged to add jobs in 2010 — specifically by hiring 10,500 graduates of American colleges, largely those with computer science and engineering degrees.
The initiative, called the Invest in America Alliance, is spearheaded by Intel, the world’s largest chip maker, and was announced on Tuesday by the company’s chief executive, Paul S. Otellini, in a speech at the Brookings Institution in Washington.
THIS IS A NOTEWORTHY INITIATIVE BUT WILL NOT ADDRESS THE GROWING "VALLEY OF DEATH " THAT VC'S CANNOT AFFORD TO FOCUS ON AS DEAL SIZE IS TO SMALL AND COMPANIES ARE GENERALLY AT AN EARLIER STAGE THAN THEY ARE WILLING TO INVEST IN...............RICH BENDIS
To read the full, original article click on this link: A $3.5 Billion Effort Aims to Help Tech Start-Ups - DealBook Blog - NYTimes.com
Author: NYT
