Telecom Lead Asia: Samsung Electronics announced strategies to accelerate innovation and drive new business creation for its device solutions businesses.
Samsung will leverage — new Samsung Strategy and Innovation Center (SSIC), new $100 million Samsung Catalyst Fund, $1 billion Samsung Ventures America Fund, and its R&D centers – to create a platform for igniting global innovation.
The Korean devices major will look at research and development, investments, strategic alliances, and M&A to create new businesses and build open ecosystems.
Samsung Electronics sees tremendous opportunities and transformations over the next five years driven by Big Data centered around mobility, cloud, and the Internet of Things.
The new Samsung Strategy and Innovation Center is headquartered on Sand Hill Road in Menlo Park and with offices in Korea and Israel.
Initial focus areas include cloud infrastructure, mobile privacy, Internet of Things, human interface, and mobile health.
The early-stage $100 million Samsung Catalyst Fund focused on components and subsystems together with the $1 billion Samsung Ventures America Fund, will fuel new technologies and business models.
