$100M Dell Innovators Credit Fund Ignites Startup Growth and Innovation

By Staff Reporter

Jun 08, 2012 04:17 PM EDT

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 need of higher credit, additional financing is available on a fast track basis with a few extra steps.1

“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 Steve Felice, Dell president and chief commercial officer. “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.”

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