The NYSE Big StartUpSM, 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 Fund
Accion 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.
“Entrepreneurs generate innovation, create jobs and drive
economic prosperity,” said Bob Strade, Executive Director, EO.
“Both NYSE Euronext and the Entrepreneurs’ Organization recognize
the critical role that business owners play in society, which is
why this partnership is such a natural fit. By focusing on
combining the resources of both NYSE-listed companies and
entrepreneurial firms to create jobs, we will work together towards
a more robust economy.”
The Startup America Partnership
The Startup America Partnership, of which NYSE Euronext is a
proud sponsor, brings together an alliance of major corporations
including NYSE Euronext, funders, service providers, mentors and
advisors working to dramatically increase the prevalence and
success of high-growth startups in the U.S. The Startup America
Partnership was launched at the White House in early 2011. AOL
co-founder Steve Case chairs the Partnership, Priceline.com
founding CTO Scott Case is the chief executive and the Kauffman and
Case Foundations are the founding sponsors.
“Providing startups with access to large companies that could be
potential customers, partners or advisors will be an incredible
growth driver for young companies,” said Scott Case, CEO of the
Startup America Partnership. “NYSE Euronext is stepping up in a
huge way to take the lead on making this idea a reality and we
could not be more excited to collaborate with them on this
important project.”
Corporate Connections and Engagement
The NYSE Big StartUp’s corporate connections program locally and
nationally will provide “live” and “virtual” events, learning and
mentoring experiences, conferences and roundtables, webcasts, and
relationship-building opportunities. The Corporate Connections
platform, a secure and confidential web portal that is part of the
Startup America Partnership, will help drive increased demand for
the goods and services of America’s startups and entrepreneurs by
providing an easy forum for corporations to review and consider
pre-screened small businesses and entrepreneurs for potential new
business and supplier relationships. Corporations can expand their
supply chain and vendor networks, and also provide startups and
entrepreneurs with access to support services including accounting,
finance, legal and logistics as well as valuable guidance on sales
and marketing, website construction, business operations and more.
The initiative will also build on NYSE Euronext’s role as an active
advocate for investors and companies small and large on key policy
and regulatory matters, especially those focused on enterprise
growth, capital formation and job creation.
“Connecting corporate America to young growth businesses and
entrepreneurs is a powerful combination,” said Scott Cutler,
Executive Vice President and Co-Head of U.S. Listings and Cash
Execution at NYSE Euronext. “By collaboratively engaging in The
NYSE Big Startup, everyone stands to benefit. Businesses will
engage in productive conversations, new opportunities and ideas
will emerge, and new growth and jobs will result. As 90% of job
growth occurs after a company goes public, helping new businesses
succeed is vital for our nation’s economic well-being.”
Among the initial companies pledging support and participation
in The NYSE Big StartUp is Yelp Inc., a leading innovator whose
website connects people with great local businesses. Yelp will
leverage platform insights and marketing best practices to develop
programs that help local businesses engage in an online dialog with
their consumers, and provide companies with practical mentoring and
networking opportunities. Yelp is a great example of what can
happen when the entrepreneurial spirit meets solid execution and a
commitment to quality products. With their global recognition as a
successful Silicon Valley company, Yelp is positioned to share its
growth experience and evolution from startup to public company
status to both educate and inspire others.
"Yelp has redefined how consumers discover local businesses,
which has created opportunities and challenges for business owners
as they get up to speed on the new rules of online consumer
engagement," said Jeremy Stoppelman, Co-founder and CEO, Yelp.
"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, and we're
thrilled that through this partnership we will be able to increase
the reach and awareness of the best social media practices to help
local businesses accelerate their growth. For Yelp, growing from
our launch in San Francisco seven years ago to the more than 70
markets we now serve around the world has taught us a few lessons,
as well, and we look forward to sharing them with other companies
engaged in a similar journey."
LinkedIn intends to create a group for
The NYSE Big StartUp that will enable participants to
connect with one another, engage in online conversations,
encourage companies to form their own groups to connect
with startups and entrepreneurs, and share insights and advice
throughout the LinkedIn community.
Microsoft BizSpark is a global program that helps software
startups succeed. With over 45,000 startups from 100 countries in
the program and a global network of 2,300 BizSpark partners,
Microsoft provides great business value to young technology
companies around the world. At no cost, the program provides a wide
range of Microsoft technology, technical and business expertise,
and enhanced market visibility.
“Startups are incredibly vital to a vibrant economy and very
fragile. Through the Microsoft BizSpark program we work with
thousands of startups to help them grow their businesses by
providing access to technology, market visibility, mentoring and
inclusion in the growing BizSpark entrepreneurial community,” said
Dan’l Lewin, corporate vice president, Strategic and Emerging
Business Development, Microsoft. “We are looking forward to adding
our energy and assets to this exciting collaborative effort between
NYSE Euronext, Accion, Entrepreneur’s Organization and The Startup
America Partnership where we are a leading sponsor.”
Become the Startup or Entrepreneur to Ring the NYSE
Bell
Small business owners and startups have an exciting opportunity
to win a chance to ring the bell at the New York Stock Exchange on
May 15, 2012. Through April 15, current or new members of The
Startup America Partnership and EO are eligible to submit entries
that will be judged by the organizations with two winners announced
on May 10. To get started and for more information visit the NYSE
Euronext Facebook page.
Interested in The NYSE Big StartUp?
For more information on the NYSE Big StartUp and how to engage
with the partnership or to access a list of programs and events,
please visit: www.nysebigstartup.com.
Check out The NYSE Big StartUp partnership video:
http://youtu.be/XukU_PPMJwc
About Accion
As the largest and only nationwide microlending network in the
United States, Accion connects small business owners with financing
and the support it takes to create or grow healthy businesses. We
stand behind every small business owner as they achieve success, so
that businesses – and entire communities – see real and lasting
impact. With over 20 years of experience, Accion has made over
44,000 loans totaling over $320 million since we opened our doors
in the United States. Additionally, hundreds of thousands of
business owners across the nation count on Accion for the access to
financial services they need to keep their businesses working and
growing. For more information about Accion, visit
http://us.accion.org/.
About the Entrepreneurs’ Organization
The Entrepreneurs’ Organization (EO) is a dynamic global network
of more than 8,000 business owners in 40 countries. Founded in 1987
by a group of young entrepreneurs, the year 2012 marks EO’s 25th
anniversary. With its transformative experiences and unparalleled
peer network, EO transforms the lives of the entrepreneurs who
transform the world. EO is the catalyst that enables entrepreneurs
to learn and grow from each other, leading to greater business
success and an enriched personal life. Membership in one of EO’s
120 chapters is by invitation only; the average member is 41 years
old with annual revenues of US$17.3 million. For more information
on EO, visit www.eonetwork.org or call
+1.703.519.6700.
About The Startup America Partnership
The Startup America Partnership was launched at the White House
in response to President Obama’s call to celebrate, inspire, and
accelerate high-growth entrepreneurship throughout the nation. The
Partnership is bringing together an alliance of major corporations,
funders, service providers, mentors and advisors working to
dramatically increase the prevalence and success of high-growth
enterprises in the U.S. AOL co-founder Steve Case chairs the
Partnership and the Kauffman and Case Foundations are founding
partners. American Airlines, American Express OPEN, Dell Inc.,
Intuit Inc., Microsoft and NYSE Euronext are sponsors. The
Partnership will identify, measure and report on the effectiveness
of cross-sector collaboration in support of entrepreneurial
ventures and its effect on job creation and growth. For more
information on the Partnership, visit www.s.co and follow us
at www.twitter.com/startupamerica and
www.facebook.com/startupamerica.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial
markets and provider of innovative trading technologies. The
company's exchanges in Europe and the United States trade equities,
futures, options, fixed-income and exchange-traded products. With
approximately 8,000 listed issues (excluding European Structured
Products), NYSE Euronext's equities markets – the New York Stock
Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca –
represent one-third of the world's equities trading, the most
liquidity of any global exchange group. NYSE Euronext also operates
NYSE Liffe, one of the leading European derivatives businesses and
the world's second-largest derivatives business by value of
trading. The company offers comprehensive commercial technology,
connectivity and market data products and services through NYSE
Technologies. NYSE Euronext is in the S&P 500 index, and is the
only exchange operator in the Fortune 500. For more information,
please visit: http://www.nyx.com.
Disclaimer and Cautionary Note Regarding Forward-Looking
Statements
This press release may contain forward-looking statements,
including forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, but are not limited to,
statements concerning NYSE Euronext's plans, objectives,
expectations and intentions and other statements that are not
historical or current facts. Forward-looking statements are based
on NYSE Euronext's current expectations and involve risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in such forward-looking statements.
Factors that could cause NYSE Euronext's results to differ
materially from current expectations include, but are not limited
to: NYSE Euronext's ability to implement its strategic initiatives,
economic, political and market conditions and fluctuations,
government and industry regulation, interest rate risk and U.S. and
global competition, and other factors detailed in NYSE Euronext's
2011 Annual report on Form 10-K and other periodic reports filed
with the U.S. Securities and Exchange Commission or the French
Autorité des Marchés Financiers. In addition, these statements are
based on a number of assumptions that are subject to change.
Accordingly, actual results may be materially higher or lower than
those projected. The inclusion of such projections herein should
not be regarded as a representation by NYSE Euronext that the
projections will prove to be correct. This press release speaks
only as of this date. NYSE Euronext disclaims any duty to update
the information herein.
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