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HP invests in start-up backer

Hewlett-Packard has invested in Launchworks, a Calgary, Alberta, company that funds Canadian start-ups, the companies said Thursday. Under the deal, HP will provide hardware and software to the company. The size of the investment wasn't disclosed. Though companies such as HP, Sun Microsystems and IBM had been courting start-ups aggressively, such activities have tapered off along with the shutoff of venture capital and the increasingly skeptical investment environment.

Hewlett-Packard has invested in Launchworks, a Calgary, Alberta, company that funds Canadian start-ups, the companies said Thursday. Under the deal, HP will provide hardware and software to the company.

The size of the investment wasn't disclosed. Though companies such as HP, Sun Microsystems and IBM had been courting start-ups aggressively, such activities have tapered off along with the shutoff of venture capital and the increasingly skeptical investment environment.