Wednesday, February 24, 2010

A $3.5 Billion Effort Aims to Help Tech Start-Ups

February 24, 2010, 5:22 am

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.

“Unfortunately, long-term investments in education, research, digital technology and human capital have been steadily declining in the U.S.,” Mr. Otellini said, according to a transcript of the speech. “So, too, has the commitment to policies that made us such an entrepreneurial powerhouse for more than a century.”

Sure would be great for librarians to reach out to advanced technology training and ummmmmmmmm get some of these bucks!

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