Intel was started by two now famous entrepreneurs - Robert Noyce and Gordon Moore. Their big idea created thousands of jobs and spawned a technology industry that has touched almost every person on this planet. It is this kind of big idea that we need now - to create jobs and economic growth and make our world a better place.
That's why I'm excited that Intel is announcing the expansion of the Intel Challenge to help thousands of aspiring entrepreneurs turn their own big ideas into reality. The program allows university students to submit business plans online, get feedback and mentoring and win prize money. The top teams from regional competitions get the opportunity to present their ideas to veteran Silicon Valley entrepreneurs and venture capitalists at the Intel + Berkeley Technology Entrepreneurship Competition (IBTEC), get additional coaching, and win more prize money. One of the winning teams also gets to attend Intel Capital CEO Summit.
These programs are all part of our broader efforts to get technology out of the labs and into the local communities - where it can do the most good. One example is Aurora Biofuels, who won the IBTEC in 2006 and now produces biofuels from algae while employing more than 40 people. It's this kind of big idea that will create the jobs and growth that we need now.
