Looking to help emerging entrepreneurs grow their companies, computer giant Dell has announced the debut of a new $100 million fund for current and future business owners.
Steve Felice, Dell president and chief commercial officer, said the Texas-based company was inspired by its first Entrepreneur-in-Residence Igrid Vandervelt, as well as numerous "great company growth stories" and "pioneering uses of technology."
"In talking with business owners and listening to their needs, they tell us what they need most is access to capital and technology that enables them to grow," Felice added. "Dell’s new Credit Fund provides credit and access to technology to help fuel global growth and innovation while helping startups preserve precious equity capital for other business needs."
According to the company, the Dell Innovators Credit Fund will provide fund to help entrepreneurs add financial and scalable technology resources to their resume
that will help them maximize their potential for innovation, as well as speed to market and future job creation.
Entrepreneurs using the funds will also be provided with round-the-clock technical support from Dell.
The Bureau of Labor Statistics reports that approximately 2.5 million jobs were created by new business establishments in the U.S. in 2010.