President Obama Announces Startup America Partnership, Chaired By Steve Case

Posted Jan 31, 2011

President Barack Obama said in the State of the Union address last week that the U.S. needs to out-educate and out-innovate our competition to win the future. One of the biggest ways by doing so is by encouraging entrepreneurship. Today the President announced Startup America, a campaign to accelerate entrepreneurship and it will be headed by Steve Case. Carl Schramm, the President and CEO of the Kauffman Foundation, will be a founding board member of Startup America.

The Small Business Administration (SBA) is committing $2 billion to match private sector over the next 5 years for high-growth companies. Brad Feld and the TechStars team will also mentor startups. Over the next 3 years, the TechStars Network will help 5,000 entrepreneurs and investors.

The government is planning to expand collaborations between large companies and startups as well. Intel Capital is committing $200 million of new investments for U.S. companies and IBM will invest $150 million in 2011 to fund entrepreneur programs. Mark Zuckerberg will be launching a new initiative called Startup Days, where the companies will host 12-15 events around the country to provide entrepreneurs with expertise and resources to accelerate their businesses.