Dell reveals $100M for entrepreneurs, innovators

Summary:Dell launches a $100 million fund for entrepreneurs to stimulate growth and innovation as well as to promote job creation.

Eager entrepreneurs looking to grow their startups should take a closer look at Dell today as the Texas-based computer giant is offering up some hefty financial backing.

Inspired by Dell’s first Entrepreneur-in-Residence, Ingrid Vanderveldt, along with direct feedback from entrepreneurs, the Dell Innovator’s Credit Fund is a $100 million pool of funding being set up to provide entrepreneurs with extra financial backing and technology resources needed to grow out their businesses and create jobs.

Dell president and chief commercial officer Steve Felice explained in prepared remarks that the initiative was motivated by "great company growth stories" and "pioneering uses of technology," but that everyone needs a little help getting there sometimes.

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 Dell Innovators Credit Fund is overseen by Dell executives and team members as well as by a 13-member Dell EIR Advisory Board consisting of leading entrepreneurs, visionaries and innovators. Funding recipients also receive benefits including a dedicated Dell sales team and 24/7 total support for top technology needs.

Dell is also expanding its Entrepreneur-in-Residence community to include entrepreneurs at all stages of growth, whether they are self-funded, looking for funding or already have enough resources set up. The community is designed to provide support and advice through case studies and industry experts for building out innovative businesses.

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Topics: Dell

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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