Intel President Paul Otellini has said that the company has organized a group of 24 venture capital firms to invest in technologies to create economic growth and jobs.
Otellini further said, "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."
"As part of the alliance, Intel Capital will participate with its own $200 million commitment," said Otellini.
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 Plc, Adobe Systems Inc, Autodesk Inc, Broadcom Corp, Cisco Systems Inc, Dell Inc, eBay Inc, EMC Corp, General Electric Co, Google Inc, Hewlett-Packard Co, Liberty Mutual Group, Marvell Technology Group Ltd's Marvell Semiconductor, Microsoft Corp and Yahoo Inc.