Samsung has launched a new innovation center in Silicon Valley that the company said will act as an incubator for startups. The company joins a growing number of mobile firms with innovation centers in Silicon Valley, all of which are hoping to gain access to the area's growing number of innovative startups and development shops.
Samsung said the innovation center will feed into various Samsung divisions like mobile and semiconductors and will include four segments including mergers & acquisitions, partnerships, venture funding and an accelerator specifically for startups. Samsung said it is looking for entrepreneurs that will help develop products and services for areas such as TVs, mobile phones, tablets, cameras and more.
Interestingly, Samsung's new innovation center is just down the road from AT&T's Foundry and a 10 minute drive from Nokia's research center.
This isn't the only presence Samsung has in Silicon Valley. The company's investment arm, Samsung Ventures America, which has $1 billion in assets, is also nearby, as is Samsung Semiconductor, which opened a new facility in San Jose, Calif. In addition, the company has a Strategy and Innovation Center in Menlo Park, Calif. Samsung announced earlier this year that this center would invest $1.1 billion in new technology.
- see this Forbes article
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