The giants of the technology industry said they would be a part of a major effort spearheaded by the Obama administration to create jobs and encourage economic growth in new technology areas like cloud computing, mobile applications and health care.
On Monday, investments by Intel, IBM and Hewlett-Packard became part of the “Startup America” campaign from the White House, an effort that partners private and public sector organizations with companies to create new business activities and promote growth in new technologies.
The money from the tree companies will go into smaller operations needing support for the addition of new jobs, said Intel spokeswoman Lisa Malloy. The board of advisors will oversee the project and determine how to distribute the investment with the goal of making the US more globally competitive, she said.
Intel is pumping $200 million into “Startup America” campaign for companies working with emerging technologies like mobile video, gaming and cloud computing. The $150 million from IBM will help mentor, educate businesses as well as software developers, and help develop software businesses.
Hewlett-Packard did not say how much money it was giving to the campaign, but said it would be giving out resources and helping with programs for startup technology companies working on clean technology, drugs, mobile application, cloud services and printing technology.
“It is entrepreneurs in clean energy, medicine, advanced manufacturing, information technology and other fields who will build the new industries of the 21st century and solve some of our toughest global challenges,” according to a White House statement on the Startup America campaign.