Arab Today, arab today samsung boosts us research venture fund
Last Updated : GMT 03:39:56
Arab Today, arab today
Arab Today, arab today

Samsung boosts US research, venture fund

Arab Today, arab today

Arab Today, arab today Samsung boosts US research, venture fund

San Francisco - AFP

Samsung announced Monday it was pumping more money into research and venture capital funding efforts that will be led by a new hub for the South Korean giant in Silicon Valley. The electronics giant said it was launching a $100 million \"catalyst fund\" that will augment its $1 billion Samsung Ventures America Fund and \"fuel innovative technologies and business models through all stages of business.\" The company also said it will be launching its new Samsung Strategy and Innovation Center in Menlo Park, California, with additional offices in South Korea and Israel. It will be headed by Young Sohn, the company\'s president and chief strategy officer of device solutions. The move by the world\'s largest technology firm by revenue and top smartphone maker comes as it ramps up its battle in the United States against California-based Apple, with the two firms embroiled in bitter legal battles. Samsung has been ordered to pay Apple $1 billion for patent infringement but is appealing the verdict. Samsung said the new drive would \"create a powerful platform for igniting global innovation\" and was part of an effort \"to create new businesses and build open ecosystems through research and development, investments, strategic alliances, and M&A (mergers and acquisitions).\" Sohn said the company sees \"tremendous opportunities and transformations over the next five years driven by big data centered around mobility, cloud, and the Internet of Things, and Samsung will be a significant part of this revolution.\" He added that the new initiative offers \"an exciting opportunity for us to engage with entrepreneurs and innovators and empower them to leverage Samsung\'s technology and global brand presence to bring our collective visions to market.\" The $100 million catalyst fund will be launched later in 2013 with a competition, SamsungCreate Challenge, offering artists, engineers, entrepreneurs, and others a chance to submit ideas for Samsung\'s devices. The contest will award $10 million in seed investments for winners and will offer additional support from Samsung. With the new venture capital, Samsung is expected to substantially boost its presence and partnerships in the US markets.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today samsung boosts us research venture fund Arab Today, arab today samsung boosts us research venture fund

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today samsung boosts us research venture fund Arab Today, arab today samsung boosts us research venture fund

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday