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Intuit Commits to $37 Million to Support Entrepreneurs Through Startup America Partnership
MOUNTAIN VIEW, Calif. – Apr. 20, 2011 – Intuit Inc. (Nasdaq: INTU) will commit to investing $37 million in products and services to promote high-growth entrepreneurship across the country in partnership with President Obama's Startup America campaign.
Intuit's commitments include special offers and pricing over a three year period for the company's flagship products and services, including QuickBooks Online, Intuit Payroll Services, QuickBooks Merchant Services and Intuit Websites, which will become available to Startup America Partnership member companies. Intuit will also look to add other offerings and tap into the expertise of its ecosystem of accounting professionals and banks, credit unions and other financial institutions.
The partnership announcement from Intuit and a number of other Silicon Valley technology firms comes in conjunction with a series of events being held today at Facebook's headquarters in Palo Alto, Calif., to support entrepreneurs and small business. This includes:
- A Shared Responsibility and Shared Prosperity Town Hall at 1:45 p.m. Pacific time, at which Obama will speak.
- A Startup America roundtable immediately following the Town Hall at approximately 4 p.m.
- A Women in Technology roundtable.
Organizers expect approximately 1,000 entrepreneurs and Facebook employees to attend the events, which can be seen on Facebook's livestreaming platform, Facebook Live at http://apps.facebook.com/facebooklive.
“Entrepreneurs and small businesses play a major role in the economic recovery,” said Kiran Patel, executive vice president and general manager at Intuit. “We are pleased that supporting and celebrating entrepreneurs is a major priority for President Obama's economic strategy, and are happy to contribute to this partnership. With millions of small business owners trusting us to help run their businesses, it's our responsibility to play an active role in this collective effort to spark new job growth.”
Small businesses have had a significant effect on the economy for more than a quarter century.
“Young businesses have created 40 million jobs during the past 25 years, and the need to create a strong ecosystem for startups in our country is more paramount than ever,” said Scott Case, CEO of the Startup America Partnership. “These new partnerships will go a long way toward ensuring that startups have every chance to succeed.”
The commitments from Intuit and other firms will help companies at varying levels of the new business life cycle. This ranges from those just getting started to those in an initial growth phase and others with significant staff and revenue growth. In the coming weeks, the Startup America Partnership will introduce a new, free membership program that will allow young companies to apply for resources to help them grow.
Further information about the Startup America Partnership and a full list of partner commitments is available at the organization's new website at www.StartupAmericaPartnership.org. The partnership can also be found at www.twitter.com/startupamerica and www.facebook.com/startupamerica.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
Intuit and the Intuit logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.