March 21, 2012
A new program launched today by the New York Stock Exchange is being heralded as a job-growth initiative to give entrepreneurs a chance to build connections and seek mentoring advice and more from those working in well-established companies.
The program, called The Big StartUp, is also sponsored by Accion, the Entrepreneurs' Organization, and The Startup America Partnership; Some of the first companies to come on board include LinkedIn, Microsoft and Yelp, according to a NYSE press release.
"America is looking for ways to create jobs, and we believe part of the answer lies in nurturing the small business community," Duncan Niederauer, CEO of NYSE Euronext, told eWeek.com. "We are calling on established companies to direct their purchasing power to small companies. In addition, we are launching new training, mentoring and education programs for entrepreneurs, as well as the Accion NYSE Job Growth Fund to help ensure that capital is available to those least able to access it from traditional sources."
The program should help young start-ups to partner up with larger, more-established companies and to look to them for mentoring and advice. Additionally, it should provide both live and virtual training, as well as opportunities for conferences, roundtables, and webcasts, reported TechCrunch.
Microsoft plans to be involved through its BizSparks program, which aims to provide start-ups with the technology and market visibility to help them achieve growth, according to eWeek.com. Additionally, LinkedIn plans to help its users connect with one another to form the relationships and networking that are beneficial to new entrepreneurs. Finally, those at Yelp plan to aid entrepreneurs by providing them with information related to best practices in marketing and platforms to help entrepreneurs.
"Helping businesses understand and take advantage of these opportunities to interact with existing and potential customers is an important part of our business education programs," Jeremy Stoppelman, co-founder and CEO of Yelp, said to eWeek.com.
Accion, which is supporting the launch of the new program, is a U.S. microfinance company that has given loans to hundreds of thousands people in the U.S., and is also playing a significant part in The Big StartUp, according to the NYSE press release. As part of the new partnership, it is launching the Accion NYSE Job Growth Fund that is based on a $1.5 million NYSE Euronext investment. This investment should enable startups and new businesses to seek the financing they need to expand business and reach their visionary goals.
"Small businesses are critical to job growth and to our economy's recovery," Gina Harman, president and CEO of Accion, the U.S. Network, said in the NYSE press release.
Compiled by Maggie O'Neill
"Microsoft, LinkedIn, Yelp Join NYSE Big StartUp Jobs Growth Initiative," eweek.com, March 21, 2012, Nathan Eddy
"The NYSE Big StartUp, a Nationwide Jobs Growth Initiative, Connects Startups and Entrepreneurs with Corporate America to Accelerate New Business, Funding and Success," nyse.com, March 21, 2012
"The NYSE Partners With Startup America; Will Loan $1.5M To Small Businesses," techcrunch.com, March 21, 2012, Leena Rao