In light of President Obama’s State of the Union speech urging Americans to "win the future" through increased innovation, business leaders joined administration officials to help launch the "Startup America" initiative, an effort to stimulate more entrepreneurship and innovation. In his speech, the President stated, "Entrepreneurs embody the promise of America. That’s why we’re launching Startup America, a national campaign to help with the future by knocking down barriers in the path of men and women in every corner of this country hoping to take a chance, follow a dream, and start a business."

During the launch event, White House officials announced increased corporate investment and support from companies including Intel, Hewlett-Packard, IBM and Facebook. A blog post by Facebook commented, "[We] will provide new companies with assistance building new apps and incorporating social technology."

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