HP's new Tech Ventures arm looks to invest in emerging startups
The PC maker wants to help young companies with 'cutting edge technologies.'
The struggles of PC maker HP have been well documented, and the continued decline of the company's main business isn't helping. Even with new products like the super thin Spectre 13.3, a 3D-scanning Sprout PC and a crystal-studded smartwatch, HP is still looking to rebound. Today, the company announced the launch of HP Tech Ventures, a "corporate venture arm" that looks to invest in startups with "cutting edge technologies." The new initiative will have teams in Palo Alto and Tel Aviv to go after the new companies in 3D transformation, immersive computing, hyper-mobility, IoT, AI and smart machines.
HP touts its 75 years of experience and patent portfolio as tools it can use to help aspiring entrepreneurs. It also notes that it has manufacturing and distribution partners in place, so it can help small companies scale quickly. HP Tech Ventures will be led by the company's Chief Disrupter Andrew Bolwell to "foster an ecosystem of innovation."
"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," explained HP's CTO and head of HP Labs Shane Wall. Details are a bit scarce for now, but interested startups can reach out to the company via the Tech Ventures website.
