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To: National Desk

Contact: Jim Hock, 202-463-0013 ext. 202, 202-494-8132 mobile, jim.hock@463.com, for TechNet

PALO ALTO, Calif., Nov. 15 /U.S. Newswire/ -- TechNet, the bipartisan political network of CEOs that promotes the growth of the innovation economy, today held its third annual TechNet Innovation Summit at Stanford University, bringing together America's top business leaders to discuss the state of innovation and the public policies needed to sustain our nation's competitiveness in the global economy.

The event, moderated by eminent television journalist Charlie Rose, coincides with the announcement of TechNet's new Green Technologies Initiative which will push for a heightened U.S. commitment to adopt innovative green technologies to fortify national security and address global energy and environmental challenges. Today, the technology industry is creating new alternative and renewable energy technologies including advances in solar, wind, biofuel and fuel cell technologies, as well as developing technology solutions that drive energy efficiency, environmental protection and economic competitiveness. These groundbreaking innovations hold the potential to be the next great disruptive technologies.

Held at Stanford's historic Memorial Auditorium, the TechNet Innovation Summit featured Bill Gates, chairman, Microsoft; Scott McNealy, chairman, Sun Microsystems; Reed Hastings, founder, chairman and CEO, Netflix; Jerry Yang, founder and chief Yahoo, Yahoo! Inc (Nasdaq:YHOO - news).; John Doerr, partner, Kleiner Perkins Caufield & Byers; Brian Halla, chairman and CEO, National Semiconductor, KR Sridhar, co-founder and CEO, Bloom Energy and Charles Giancarlo, senior vice president and chief development officer, Cisco Systems and president, Cisco-Linksys, LLC.

"The TechNet Innovation Summit is the premier national event that brings together the technology industry's luminaries to discuss the future of American innovation," said Lezlee Westine, president and CEO of TechNet. "We are pleased to announce our new Green Technologies Initiative, which we hope will drive a national commitment to the development and adoption of innovative energy technologies as a key part of the solution to national security, economic competitiveness and global environmental challenges. This call to action will utilize the best minds in the technology industries sector to develop policies and initiatives that spur the development and adoption of new technologies to enhance energy efficiency, encourage use of renewable energy and protect the environment."

The TechNet Green Technologies Initiative will be led by a select group of TechNet CEOs and senior executives.

"The TechNet Green Tech Initiative will provide a roadmap for government and industry to put these technologies to use in solving our serious environmental and energy challenges," said John Doerr, TechNet Founder and Partner, Kleiner Perkins Caufield & Byers. "We have just a few years to get this right and it is the power of innovation that will lead the way in combating this crisis."

"Innovation is the lifeblood of the world's economic growth and nothing pumps it faster that good, old-fashion competition," said Reed Hastings, founder and CEO of Netflix. "The TechNet Innovation Summit is an ideal place for leading companies and sometime competitors to join in shaping the discussion of exciting future directions."

Energy Facts

-- The U.S. is the world's largest consumer of oil. It accounts for 25 percent of global daily consumption, but holds less than percent of world's proven oil reserves. The Middle East by contrast holds more than 61 percent of the world's oil reserves (U.S. Department of Energy).

-- The power of the sun -- All the energy stored in the earth's reserves of coal, oil and natural gas is equal to the energy from only 20 days of sunshine (Energy Information Administration).

-- Clean, renewable energy like solar and wind power currently produces roughly 2 percent of US electricity. In contrast, nearly 90 percent of our electricity still comes from traditional sources such as coal and nuclear power (US Department of Energy).

About TechNet

Former Netscape CEO Jim Barksdale, Cisco CEO John Chambers and John Doerr created TechNet in 1997 to shape public policy impacting U.S. innovation and technology leadership. TechNet has since become the preeminent organization representing chief executive officers of the nation's leading high technology companies. Through the power of its network, TechNet continues to have an extraordinary impact on public policy driving a stronger education system, investments in research and development, legal reform, broadband and Internet policy and other issues critical to U.S. innovation and global competitiveness.

TechNet's 200 CEO members are the nation's leading innovators in the fields of information technology, Internet and e-commerce, biotechnology, venture capital and investment banking. These companies represent more than one million employees. TechNet has offices in Washington, DC, Palo Alto, Sacramento, Seattle, Boston, Austin, and Orange County (California). http://www.technet.org.

The TechNet Innovation Summit supports TechNet's longstanding commitment to policies that strengthen the nation's innovation- driven global competitiveness. TechNet's top priority is to foster public policies and private sector initiatives that maintain U.S. competitiveness and economic growth through innovation.

-- TechNet supports initiatives that will strengthen America's education system, increase the number of Americans attaining degrees in science, technology, engineering and mathematics, and ensure a high-skilled 21st century workforce;

-- TechNet supports policies that spur entrepreneurship, employee ownership and small business growth;

-- TechNet supports patent litigation reform efforts to end meritless lawsuits that are a drain on resources and innovation;

-- TechNet advocates policies to spur the rapid deployment of broadband networks and consumer access to Internet content and services, and to ensure the continued growth and vitality of the Internet.

-- TechNet calls for a strong national investment in research and development through increased federal funding for basic research and enactment of a permanent R&D tax credit;

-- TechNet supports international trade policies and agreements that expand markets for U.S. industry.

http://www.usnewswire.com/

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/© 2006 U.S. Newswire 202-347-2770/

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