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Samsung to invest USD1.1b in research, venture fund  Join our daily free Newsletter

MENAFN - 05/02/2013

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(MENAFN) South Korea's Samsung stated that it will invest USD1.1 billion in research and venture fund, reported AFP.

The world's largest technology firm by revenue said that USD1 billion will be allocated for "Samsung Ventures America Fund", whereas the remaining USD100 million will be pumped in a "catalyst fund" which will drive innovative technologies and business models through all stages of business.

The company noted that the efforts would establish a powerful platform for driving global innovation; furthermore, they are part of the firm's efforts to create new businesses and set up open ecosystems via research and development, investments, strategic alliances, and mergers and acquisitions (M&A).

It is worth noting that Samsung will be establishing its new Samsung Strategy and Innovation Center in Menlo Park, California.

 






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