Samsung Global Innovation Center becomes Samsung NEXT
Samsung created its Global Innovation Center back in 2013 and now they are taking this initiative to a whole new level. Shortly known as GIC, what started as a small startup incubator now turns into Samsung NEXT, described as "a global organization of entrepreneurs, engineers, investors, strategists and business development leaders all working to realize its vision in close partnership with innovators everywhere."
Samsung NEXT comes with a new logo and website that aim "to simplify its identity and clarify its vision," and the whole process also includes the creation of the Samsung NEXT Fund. This $150 million venture capital investment fund aims to help Samsung support early stage startups involved in developing advanced software and services.
According to Samsung, its startup incubator completed more than 50 investments, 15 of which were financed by the NEXT Fund. The official press release mentions that Samsung NEXT will provide support to innovators worldwide with a focus on VR, connected and autonomous cars, AI, IoT, mobile commerce, as well as "other new frontier technologies."