Dell To Launch $100 Million Startup FundBY: Jon Christian | June 7, 2012
Dell announced a $100 million financing initiative Thursday, aimed at startups and incorporating sales and support services for approved projects.
Ingrid Vanderveldt is Dell’s entrepreneur in residence, where she is tasked with identifying new business and technology solutions and facilitating entrepreneurship and sustainable practices at the company. She took point on the Dell Innovator’s Financing Fund, which emphasizes speed to market and job creation potential.
“Dell’s new Innovators Credit Fund provides credit, resources and access to technology to help fuel global growth and innovation while helping startups preserve precious equity capital for other business needs,” Vanderveldt said.
Qualified angel and venture-backed projects can access up to $150,000 with limited credit terms under the new fund. Approved projects will receive 24-hour support services from the company.
Vanderveldt said that the fund “showcases the commitment to fueling the growth of entrepreneurs and businesses of all stages of growth – not just through its technology solutions – but through programs like the Innovators Credit Fund, networks like the Dell Women’s Entrepreneur Network, partnerships with the Young Entrepreneurs Council, the Kauffman Foundation, Endeavor and more. Entrepreneurial success is everyone’s success.”
Vanderveldt also oversees the Dell Women’s Entrepreneur Network, an initiative that spotlights female entrepreneurs and creates a networking space for women in the startup space.
Dell also highlighted a recent partnership with the Young Entrepreneur Council, which is launching a national campaign called #FixYoungAmerica with the goal of sparking “innovative and practical conversations about overcoming unemployment and underemployment.” Dell will provide all its customers with an essay compilation released by that project, and is launching an entrepreneur residence community this month.
“Behind most great company growth stories are 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,” said Dell president Steve Felice, in a press release. “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.”
The company’s work in entrepreneurship may be part of an ongoing effort to build a cooler image. Dell struggled to overcome a frumpy reputation during the 2000s, but is still a leader in enterprise computing and is currently listed at #1 on Fortune‘s Fortune 500.