HP programme for Internet start-ups

Hewlett-Packard has launched a major investment programme to help Internet start-ups.

Hewlett-Packard has launched a major investment programme to help Internet start-ups.

The Garage Programme has up to $72 million for companies on both sides of the Tasman, plus millions more for worldwide e-scholarships.

HP says the scheme offers innovative financing, mission-critical expertise and global marketing help to facilitate the success of start-ups, dot-coms and other IT ventures that will drive the development of the Internet economy.

The HP Garage Programme complements existing forms of capital raising. As part of a worldwide initiative, it offers debt funding help to start-ups that do not have the trading history normally needed to obtain such financing.

The Garage Dot-Com Programme offers funding and help for start-ups with innovative ideas for Internet ventures. HP will fund up to $3.6 million per company and expects to invest in 15 to 20 companies through the Dot.Com programme alone.

The Garage E-Scholarship Programme is a worldwide business plan competition offering $3 million to 10 winners.

HP is also looking at rolling out a local e-scholarship, targeting universities and developers in Australia and New Zealand, offering similar rewards.

"The Garage Programme is part of HP's vision of the proliferation of electronic services through the Internet. HP understands that time-to-revenue, capital preservation and rapid growth are vital to new and emerging Internet companies.

"We're making it much easier for start-ups to grow by offering deferred payment financing, the industry's best range of services, and secure, scalable technology platforms," says HP marketing director David Lenz.

Details to apply can be found on www.hp.com.au.

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