Intel CEO Paul Otellini Tuesday announced an ambitious $3.5 billion plan that, ideally, will lead to more technical jobs and start-ups in the U.S.
The Invest in America Alliance can essentially be split into two parts. The first part consists of an alliance between the chip maker and 24 venture firms like Mohr Davidow Ventures and Draper Fisher Jurveston to invest $3.5 billion into start-ups over the next two years. The investments will be made in a variety of fields, but green and clean tech are at the top of the list. As part of the push, Intel Capital will create a $200 million fund-within-a-fund to bolster the effort.
Second, a group of 17 companies — Accenture, Google, Dell, eBay, Marvell Semiconductor — will try to increase the hiring of college graduates (or NCGs, or “new college graduates” in Intel speak). Ideally, these companies will double the number of graduates. In 2010 alone, that could mean 10,500 more jobs.
