Hewlett Packard May 10 launched a new corporate venture arm — HP Tech Ventures — that will invest in and partner with start-up tech companies.
The endeavor will have offices in Palo Alto, Calif., and Tel Aviv, Israel, and will look to target companies dealing in computing, the Internet of Things, 3D, artificial intelligence and smart machines.
“The next technology revolution is shifting towards strategic markets that speak to HP’s strengths,” said Shane Wall, HP CTO and head of HP Labs. "With our global brand and broad reach into consumer and commercial markets worldwide, HP can help startups bring product to market, build their business and scale in the global marketplace as they grow."
Wall and HP’s chief disrupter, Andrew Bolwell, will head up the Lab, which will use its 18,000-plus patents to help advance the technologies of entrepreneurs that sign on with the program.