10 May 2016, USA :
Hewlett Packard Inc.(HP) today launched a new venture capital unit called HP Tech Ventures, which will see the PC and printer company invest in the most promising startups in the fields of 3D printing, augmented reality, artificial intelligence, and the Internet of Things.
HP’s announcement was mainly a formality. The investment group, which already was operating quietly, grew out of activities begun before the Hewlett-Packard breakup completed in early November, said Shane Wall, HP’s chief technology officer. It has already made a handful of investments.
The eight-person team, which ultimately reports up to HP’s CTO Shane Wall, is being led by Andrew Bolwell, who has spent the last 16 years with HP and has held the title of chief disruptor for the last few of them.
Among his colleagues and co-founders are Irit Hillel, based in Israel, and Vitaly Golomb, who is based alongside Bolwell in Palo Alto.
HP Tech Venture’s goal will be to invest in and help nurture tech startups in the most advanced technology and communication fields. It will focus mainly on strategic Series A deals in five key areas: immersive experiences (augmented and virtual reality); smart machines (home and commercial robots); the Internet of Things; and finally 3D printing and the broader 3D ecosystem of hardware, software, and materials.
While HP has not divulged just how much they will be investing in this new effort, the entire venture seems to be a wise decision on their part. Startup accelerators have clear benefits for both parties: inexperienced yet ambitious developers and entrepreneurs gain access to the mentors, training, and of course, funding they require to bring their dreams to fruition, while corporations can negotiate deals and strategic investments early on, without fear of missing out on the next big thing.