April 25, 2024

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[THE INVESTOR] Samsung NEXT, a startup incubator under tech giant Samsung Electronics, said on Jan. 5 that it has created a US$150 million fund to support early stage startups focused on virtual reality, artificial intelligence, Internet of Things and other emerging technologies.

“We see software and services becoming a core part of Samsung Electronics’ DNA, and startups are key to achieving this vision,” said David Eun, president and founder of Samsung NEXT. 

“Samsung continues to embrace entrepreneurship at all levels and this fund shows our unwavering commitment to support great startups worldwide.”

The startup incubator, formerly known as Samsung Global Innovation Center, has invested in a range of global startups, including Converge Industries, which makes drones for property inspection, Dashbot, which produces an in-car controller for smartphone, and Entry Point VR, a VR solution developer.

In September last year, the startup incubator launched its newest office in Tel Aviv. It runs four other offices in Mountain View, New York, San Francisco and Seoul, and plans to open additional locations in 2017.

By Kim Young-won (wone010@heraldcorp.com)