R&D Centers in Israel, US and Korea in the heart of Samsung’s Innovation Engine Initiative
5 February, 2013
Special bonus is the new early-stage $100 million Samsung Catalyst Fund focused on components and subsystems
Samsung Electronics introduced yesterday its vision for a global engine to accelerate innovation and new business for Samsung’s Device Solutions.
The new Samsung Strategy and Innovation Center (SSIC), new $100 million Samsung Catalyst Fund, $1 billion Samsung Ventures America Fund, and Samsung’s international R&D centers will create a platform for igniting global innovation.
The new SSIC headquartered on Sand Hill Road in Menlo Park and with offices in Korea and Israel is led by Young Sohn, President and Chief Strategy Officer of Device Solutions, Samsung Electronics. “We see 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,” said Sohn.
Initial focus areas include cloud infrastructure, mobile privacy, Internet of Things (M2M), human interface, and mobile health. Entrepreneurs and innovators will gain access to Samsung’s resources including: Strategy and technology mentorship from SSIC experts within Samsung R&D centers, and opportunities to partner with Samsung’s Device Solutions business units and Samsung’s international R&D centers for product development.
Special bonus is the new early-stage $100 million Samsung Catalyst Fund focused on components and subsystems. To jumpstart the Fund, SSIC will hold a competition launching later in 2013. The contest will award $10 million in seed investments for winners.