Tech industry boosts new White House innovation campaign

A new White House campaign called Startup America garnered a list of commitments from the tech sector before it got under way on Monday.

Intel Capital promised $200 million in new investment in U.S. companies, IBM pledged $150 million for programs that promote entrepreneurship and new business opportunities, and HP said it would devote $4 million to educational and outreach programs for small businesses and entrepreneurs. 

Facebook made plans to host 12 "Startup Days" this year to help new companies learn how to engineer and design for the Facebook platform. 

The effort, chaired by AOL co-founder Steve Case, is aimed at fostering entrepreneurship and job growth. 

Startup America will be launched in a ceremony at the White House on Monday. Case, Commerce Secretary Gary Locke, Energy Secretary Steven Chu, Director of the National Economic Council Gene Sperling and Chairman of the Council of Economic Advisers Austan Goolsbee are all expected to attend.

President Obama used his State of the Union address last week to call on the nation to focus on innovation so that U.S. businesses and workers can out-compete foreign rivals in a globalized economy.