Samsung invested in 8 Israeli start-ups in 2014Feb. 9, 2015
Samsung has become a massive investor in Israeli start-ups over the past year. Samsung Electronics President and Chief Strategy Officer Young Sohn said that the South Korean electronics giant invested in eight Israeli companies in 2014. “We are no longer the giant that buys companies, but rather a partner. This is a change in our thinking. We invest a lot of money in start-ups around the world. Our investments have reached $1.4 billion, to date. Our investments start at $250,000, and can reach as much as $25 million.”
Sohn declined to reveal the total amount that Samsung has invested in Israeli companies. “We don’t just provide money to start-ups. We allow them to participate in our incubator.” Sohn says that Israel is second only to Silicon Valley in total investment from Samsung.
Sohn said, “Our most recent investment in Israel was in EarlySense. Through our investment in them, we are helping to make the product commercially viable. Sohn added, “We want to take a leading role in what we call ‘the smart life era.’ We have a close partnership with the Israeli start-up community, and Israel, as one of the global centers of entrepreneurship and innovation, certainly interests us, as a base for future technologies that can influence the lives of millions.”
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