HP Awards Global Non-profits More Than $5 Million in Cash and Equipment Grants
PALO ALTO, Calif., Oct. 15, 2007
HP today announced it has awarded more than 100 non-profit organizations and non-governmental organizations (NGOs) globally more than $5 million in cash and equipment to advance economic growth through microenterprise development in diverse, low-income communities.
The HP Microenterprise Development Program provides technology and training grants for entrepreneurs to build and grow their businesses, with particular focus on small businesses, youth and underserved communities. A microenterprise is a business with five or fewer employees, minimal start-up capital, and little to no access to the traditional banking sector.
“HP is improving economic viability and quality of life for individuals and communities around the world through investments of HP resources and technology,” said Yvonne Hunt, vice president, Global Philanthropy, HP. “These grants represent one channel for us to support economic development to accelerate entrepreneurial growth and success.”
HP recently awarded microenterprise development grants to 40 non-profit organizations in the United States and Puerto Rico; 35 throughout Europe, the Middle East and Africa (EMEA); 17 in Asia Pacific; and 14 in Latin America.
- In the United States and Puerto Rico, approximately 40 non-profits received grants worth $56,000 each for a total of more than $2.25 million, to provide start-up assistance, business training, access to capital and advice to entrepreneurs and very small businesses in underserved communities.
- HP’s EMEA-based GET-IT Program grants technology equipment to organizations that supply graduates and unemployed youth with professional IT and business training. In the first rollout of the program, at least 6,000 young people will be trained in 35 centers across 18 countries through grants worth up to $40,000 each.
- In Asia Pacific, HP gave 17 grants worth $80,000 each to 11 organizations in India, China, Indonesia, Korea, Australia and New Zealand to assist with nurturing successful entrepreneurs in local communities.
- In Latin America, HP awarded 24 grant packages to 14 organizations in Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela. In total, these grants of HP equipment, cash and training resources are valued at approximately $480,000.
HP established the Microenterprise Development Program to address the limitations faced by microenterprises around the world. For example, few low-income entrepreneurs use technology effectively to accelerate their businesses. In addition, many non-profit agencies devoted to supporting microenterprises in underserved communities do not have the technology expertise necessary to help these businesses thrive. HP awards technology grants, including HP equipment, cash and training resources, to non-profits and NGOs that help microenterprises develop and succeed.
More information about HP Global Philanthropy, as well as a complete list of all Microenterprise Development Program grant recipients in each region, is available at www.hp.com/go/grants.
HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totalling $100.5 billion for the four fiscal quarters ended July 31, 2007. More information about HP (NYSE: HPQ) is available at http://www.hp.com.
© 2007 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.