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samsung to open startup center in israel - samsung
The global technology giant launched a new initiative on Tuesday, the international center for innovation and strategy.
The center will be based in Menlo Park, Silicon Valley, California, but it will have two branches-one in South Korea (
Origin of Samsung)
One in the central Israeli city of ramategan.
The new center will be headed by Samsung Chief Strategy Officer Young Sohn, who was just appointed four months ago.
Yedios ahronos learned that young Thorne visited Israel two weeks ago and this week's announcement was a direct result of the visit.
The Israel branch of the innovation center will be established under the existing R & D center of Samsung Semiconductor in Ramat Gan.
Samsung executives are said to be very happy with the performance and results of the R & D center, prompting them to open a branch of the new initiative in Israel.
The new center is part of Samsung's comprehensive strategic plan to increase investment in R & D.
The Israeli technology Samsung plans to invest in will eventually cover the company's future products.
As part of the center of innovation and strategy, Samsung's new investment in Israel will focus on three areas: investment in young Israeli startups, whether through direct investment or through active cooperation, promote development and technology that match Samsung's future plans;
Investment in Israeli academia, whether through funding research at universities in the country, or by accepting ideas and research created by academia, and working with R & D centres in ramategan, develop them into a company and a product;
And local venture capital funds that invest in Israeli start-ups.
In recent months, employees of Samsung Semiconductor's R & D center in Ramat Gan have been holding intensive meetings with many companies in an attempt to find suitable candidates for cooperation and investment.
In fact, the new center will be a branch of Samsung worldwide, which will expand its activities in Israel.
It is estimated that the acquisition of local companies may also follow.
Young Sohn said at a news conference in Silicon Valley on Tuesday that the company may make large-scale and small-scale acquisitions in the near future.
The technology that the new center will focus on is not necessarily a smartphone and tablet, but a part of the long term
Outlook: LED display, medical products, cloud technology, data protection and other technologies designed to be the engine of growth for the company.
For example, instead of developing chips, the semiconductor center develops sensors for technology in the fields of cameras and telephones, digital image processors, and computer vision.
Samsung is basically trying to become a leading company to innovate in new technology areas and categories.
The decision to set up an innovation center in the Jewish state means that it will use Israeli technology.
Samsung's financial investment in Israel will be determined according to the number of projects and investments.
But the potential is clearly huge: Samsung has announced a new $100-
Billions of investment funds will be invested in large companies.
Part of the money will also flow to Israel.
In fact, the message from Samsung is that it has already provided funds for the Israeli market and must find investment projects.
Samsung has been particularly close to Israel for years.
In addition to Ramat Gan's R & D center, which employs about 200 workers, is headquartered at Transchip, acquired by Samsung in 2007, and has a R & D center in Yakum, in addition to marketing activities and imports of company products.
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