Samsung is already becoming one of the big heavy hitters in tech, but it’s looking to make more investments to ensure its place as the so-called “fifth horseman” alongside Amazon, Apple, Facebook, and Google. The company announced today that it is committing to investments in new technology, with the launch of its new Samsung Strategy and Innovation Center (SSIC), as well as a $100 million commitment to a new Samsung Catalyst Fund, to fund development of components and subsystems. That’s all alongside the $1 billion that Samsung is investing through its Venture Americas Fund and its existing R&D centers around the world.
The new Innovation Center will be headquartered at Sand Hill Road in Silicon Valley, and will be led by Samsung Electronics president and chief strategy officer Young Sohn. Today at a press conference, Sohn laid out the company’s strategy for investing in innovation over the next several years.
To read the original article: Samsung Launches Strategy And Innovation Center, Will Invest $1.1 Billion On Innovation Through Two Funds | TechCrunch
