Samsung has added another $100m to its $1bn venture capital Catalyst Fund.
The $100m will go to funding a Strategy and Innovation Centre (SSIC) in Sand Hills Road – Mecca for Californian VCs – originally announced by Samsung’s Chief Strategic Officer Young Sohn at last October’s Future Horizons IFS 2012 seminar in Bratislava.
Yesterday, Sohn said: “We must reach out to global hot spots and global talent. This is the epicentre of disruptive forces.” He plans more SSICs.
In Bratislava, Sohn pointed out that companies like Facebook and Google are designing their own hardware. He said enterprise computing is changing into something “cloud-driven which we think will be ARM-based.”
At IFS 2012 Sohn said that large companies have the problem of getting imaginative projects off the ground. He pointed out how Sun developed Java as an off-site secret project with a team small enough to sit around a table in a Chinese restaurant, and how a Lockheed Skunk Works delivered the first 400mph fighter plane with a small, isolated, crack team of engineers working in secrecy with short decision loops.