June 7, 2012 The EIR Blog by Ingrid Vanderveldt "iV"
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$100M Dell Innovators Credit Fund Ignites Startup Growth and Innovation
- New initiative targets startup debt capital needs, connects firms with scalable technology solutions, markets and networks for growth
Dell today announced the Dell Innovators Credit Fund, a first-of-its-kind Dell financing initiative that provides entrepreneurs up to $100M in the financial and scalable technology resources they need to maximize potential for innovation, speed to market and job creation.
A new Technology CEO Council (TCC) paper reports the highest-growth startups generate an outsized share of new jobs in the United States: 40 percent of new jobs come from the top-performing 1 percent of companies in any given year. Additionally, Web-knowledgeable small- and midsize-firms in a range of industries outpace their less Internet-savvy counterparts in job creation by more than two to one, according to a McKinsey Global Institute study cited in the TCC report.
The Dell Innovators Credit Fund aims to get end-to-end, scalable technology solutions in the hands of growing businesses during that crucial early time in market. Through Dell Financial Services, qualified angel and venture-backed companies can access up to 10 percent of their funded amount, or up to $150,000, with accelerated, limited credit terms. For those in needs of higher credit, additional financing is available on a fast track basis with a few extra steps.*
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