Arthur Rock, one of the first venture capitalists, or the first in the modern sense of the term, raises the money to launch a new startup in two days. The initial signatories include Rock, Noyce, Moore, Grinnell College, Laurence-Rockwefeller, Fayez Sarofin (Rock’s Harvard classmate), Max Palevsky, and Rock’s old company, Hayden, Stone. In addition, the other six former Fairchild founders (of the eight who had left Shockley) received offers to join. All six did so. The company was initially called NM Electronics (for Noyce and Moore). It later became INTegrated ELectronics, or Intel for short.
