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02.24.10 Intel-Led Alliance To Invest $3.5 Billion In US Tech Companies  By Doug CaverlyIntel and a significant number of venture capital firms have promised to show a huge amount of interest in American tech companies over the next two years. Indeed, the president and CEO of Intel promised yesterday that this group will invest a whopping $3.5 billion during that time. Paul Otellini said during a speech at the Brookings Institution in Washington, D.C., "I'm pleased to announce the inception of the 'Invest in America Alliance,' a group of leading VC companies committed to steer investments into technologies that will drive economic growth and job creation in the US." Otellini then continued, "The members of this alliance have committed to investing $3.5 billion in promising clean technology, information technology, and bio technology companies over approximately two years." And there are 25 members, all in all.
The influx $3.5 billion is bound to have some noticeable effects on the tech industry. Other investors will want to make sure they're not being squeezed out, but at the same time, the Invest in America Alliance's involvement could help a lot of companies make the jump from "barely surviving" to "bringing a product to market and turning a profit." Other investors should plan accordingly. This promises to be an exciting time. About the Author: Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news. |
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