Washington – Startup America, the new White House-backed
entrepreneurial program being chaired by AOL co-founder Steve Case, said on
Wednesday it has landed new commitments that will deliver over $400 million in
services to startups from more than a dozen companies, including American
Express, Google, HP, Intuit, and Microsoft. That’s on top of several large
initial investments from companies such as Intel, IBM and Facebook announced
when the program launched in late January.
The news came as President Obama
visited the Silicon Valley headquarters of social media giant Facebook.
Goolsbee, chairman of the Council of Economic Advisers, wrote in a blog post
that the latest commitments are part of the Obama administration’s plan to
"create the right environment for high-growth entrepreneurship."
plan also includes the elimination of capital gains taxes on qualified small
business investments — which Obama hopes to make permanent — and the
reduction of federal red tape that many see as a barrier to entrepreneurship.
(White House blog)