 "How Dell notched up more than 80 startups for its credit financing programme")
By Ankush Chibber
Dell Inc, the Austin, US-based technology services provider and PC maker, has notched up 85 companies for its novel credit financing programme one year on from when it was launched.
Speaking at the Dell Women’s Entrepreneur Network (DWEN) annual event at Istanbul, Steve Felice, Chief Commercial Officer at Dell, said that the company had surpassed its original target of 20 companies by a wide margin.
Under the $100 million Innovators Credit Fund, which was announced in Delhi at the last DWEN event, qualified angel and venture-backed companies can access up to 10 percent of their funded amount, or up to $150,000, with accelerated, limited credit terms for their technology needs.
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The funds are deployed through Dell Financial Services and Felice said that in the very near future, as their ecosystems mature and they are able to find the right partners, the fund’s scope could be expanded to emerging markets like India.
“We wanted to start in the US and get it right here first. I think we will be expanding this or an initiative like this to these emerging markets sooner rather than later,” said Felice.
Dell has also recently launched the Founder’s Club in the US, where as the name suggests, it has got on board founders of technology startups that then enjoy exclusive benefits including concierge-level support and opportunities to network with other fast-growing startups.
These founders run startups are mostly those that have been funded by a venture capital or angel firm and have crucial and immediate technology needs.
Ingrid Vanderveldt, Entrepreneur-in-Residence at Dell, said that the programme had been exclusive to US-based startups but was recently expanded with the inclusion of a British entrepreneur. At the right time, this programme could be expanded to markets like India, China, and Turkey, she added.
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More ShortsAnkush Chibber works for Entrepreneur magazine