Intel has announced plans for it and other companies to double their hiring of college graduates, creating more than 10,500 jobs. It is working with a range of venture capital firms to organize $3.5 billion in investment in technology, reports Reuters.
Otellini has estimated the annual paychecks would total more than $1 billion. According to him, the chipmaker has organized a group of 24 venture capital firms to invest in technologies to create economic growth and jobs. "The members of this alliance have committed to invest $3.5 billion in promising clean technology, information technology and biotechnology companies over approximately two years," Otellini said in a speech at the Brookings Institution think tank. "As part of the alliance, Intel Capital will participate with its own $200 million commitment."
Venture capital firms involved in the initiative include Advanced Technology Ventures, Braemar Energy Ventures, Bridgescale Partners and 21 others.
The companies involved in the hiring of new college graduates include Accenture, Adobe Systems, Autodesk, Broadcom, Cisco Systems, Dell, eBay, EMC, General Electric, Google, Hewlett-Packard, Liberty Mutual Group, Marvell Technology Group’s Marvell Semiconductor, Microsoft and Yahoo.