The NYSE Big StartUp SM, a nationwide jobs-growth initiative designed to connect young companies and entrepreneurs with corporate America, was launched today by NYSE Euronext (NYX) in collaboration with Accion, Entrepreneurs’ Organization (EO) and The Startup America Partnership. The program calls on the nation’s corporate community to lend support, experience and resources to startups and small companies to improve procurement, networking, business development, training, marketing and information sharing. Yelp (NYSE: YELP), LinkedIn (NYSE: LNKD) and Microsoft (NASDAQ: MSFT) are among the first corporations to participate in this endeavor. In addition to information and events to be provided as part of the initiative, a microfinance program called the Accion NYSE Job Growth Fund, started with a $1.5 million commitment by NYSE Euronext, will provide small businesses and startups with the capital and support they need to grow.
The NYSE Big StartUp is unique in its comprehensive approach to promoting job growth through small businesses, startups and entrepreneurs. The program helps to promote the increased demand for goods and services that these growing companies need, while also mobilizing the corporate sector to contribute knowledge, expertise and funding where it can be critical to job creation.
“America is looking for ways to create jobs and we believe part of the answer lies in nurturing the small business community,” said Duncan L. Niederauer, Chief Executive Officer, NYSE Euronext. “Business leaders cannot wait for Washington to have all the answers, so our idea, The NYSE Big StartUp, is aimed at encouraging bigger companies to help small companies. NYSE Euronext is uniquely positioned at the center of capital markets to bring our community and partners together to fuel job growth. 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.”
Accion NYSE Job Growth FundAccion is the largest microfinance lending network in the U.S. and has provided loans and support to hundreds of thousands of enterprising individuals in the U.S. The Accion NYSE Job Growth Fund officially launches today through a $1.5 million commitment from NYSE Euronext, and is now open for corporate contributors and small business applicants. The funding will be leveraged at a 4.5:1 ratio, enabling an even greater impact. Information on the Accion NYSE Job Growth Fund can be accessed and donations can be made at http://us.accion.org/. “Small businesses are critical to job growth and to our economy’s recovery,” said Gina Harman, President and CEO of Accion, The U.S. Network. “At Accion, we have been working alongside determined, hard-working business owners for over 20 years, creating innovative ways to remove key obstacles to their success and ensure they have the access to capital and the business support programs they need. We applaud NYSE Euronext for initiating The NYSE Big StartUp and urge corporations to contribute to the fund so that we can provide access to opportunity for the millions of small businesses in the U.S. capable of generating new jobs.” Entrepreneurs' Organization The Entrepreneurs' Organization (EO), a global network of more than 8,000 business owners in 40 countries, serves as a catalyst that enables entrepreneurs to learn and grow from their peers’ ideas and experiences. EO’s role in the NYSE Big StartUp will include special focus on its Accelerator program, which through events and other outreach efforts fuels growth of earlier-stage entrepreneurs, provides mentors and training for EO’s broader pool of entrepreneurs, and connects the EO network with the corporate supply chains.