HP has launched new investment arm to fund start-ups. Dubbed as HP Tech Ventures, the new group will fund young businesses working on 3D technology, immersive computing, artificial intelligence, the Internet of things and smart machines.
The HP Tech Ventures group is led by HP Chief Disrupter, Andrew Bolwell who will report to HP CTO Shane Wall. HP Tech Ventures will have teams in Palo Alto and Tel Aviv. HP said that it has manufacturing and distribution partners in place, so it can help small companies scale quickly. The company did not mention any specific startups it may be looking to invest in. HP Inc. and HP Enterprise officially split into separate companies last November.
Shane Wall, HP Chief Technology Officer and head of HP Labs said,
The next technology revolution is shifting towards strategic markets that speak to HP’s strengths. 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.