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Samsung reserves $150 million for innovative startups

Ignition of the next stage: Samsung strengthens its commitment to young technology companies in order to bind them to its own business ecosystem.

24 Jan. 2017
Samsung Next Level
Samsung reserves $150 million for innovative startups (Photo: Samsung)

Samsung is giving its investment program, previously known as "Global Innovation Center", a new name and simultaneously launching a venture capital fund of 150 million U.S. dollars in order to promote young technology companies. The company announced this information at the CES in Las Vegas . The funding initiative will apparently be called "Samsung NEXT" in future. In this way, the South Korean company wants to enter into partnerships with young, innovative enterprises, provide them with the necessary capital – and, of course, profit from their innovative energy as well.

For the first time, Samsung also presented a number of enterprises at the CES Eureka Startup Park this year, which the company is already actively promoting, including, for example, BioBeats , the wellness and coaching enterprise working with artificial intelligence, Mapzen, the card platform open for a wide variety of applications, and LiquidSky, a solution for cloud-based gaming from (almost) any terminal device. Also on board: Baobab Studios . The virtual-reality animation specialists most recently collected an additional capital of 25 million U.S. dollars in October 2016; among others, this came from Horizons Ventures (Hong Kong), which has homed in on disruptive tech startups, and 20th Century Fox.