Samsung Introduces Global Engine to Accelerate Innovation and Drive New Business Creation

Mon Feb 4, 2013 4:00pm EST

* Reuters is not responsible for the content in this press release.

New Samsung Strategy and Innovation Center, Investment Funds, and International
R&D Centers Power a New Model
MENLO PARK, Calif.--(Business Wire)--
Samsung Electronics Co., Ltd., a global leader in digital convergence
technologies and advanced semiconductor solutions, today introduced its vision
for a global engine to accelerate innovation and to drive new business creation
for Samsung`s Device Solutions businesses. The new Samsung Strategy and
Innovation Center (SSIC), new $100 million Samsung Catalyst Fund, $1 billion
Samsung Ventures America Fund, and Samsung`s international R&D centers create a
powerful platform for igniting global innovation. Samsung Electronics will
leverage these organizations in global innovation hotspots to create new
businesses and build open ecosystems through research and development,
investments, strategic alliances, and M&A. 

The new Samsung Strategy and Innovation Center headquartered on Sand Hill Road
in Menlo Park and with offices in Korea and Israel is led by Young Sohn,
President and Chief Strategy Officer of Device Solutions, Samsung Electronics.
"We see tremendous opportunities and transformations over the next five years
driven by Big Data centered around mobility, cloud, and the Internet of Things,
and Samsung will be a significant part of this revolution," said Sohn. "This is
an exciting opportunity for us to engage with entrepreneurs and innovators and
empower them to leverage Samsung`s technology and global brand presence to bring
our collective visions to market." 

This new model creates a mutually beneficial foundation for Samsung and
innovators to explore new opportunities and drive future growth related to
Samsung`s components businesses. Initial focus areas include cloud
infrastructure, mobile privacy, Internet of Things, human interface, and mobile
health. Entrepreneurs and innovators will gain access to Samsung`s unique
ecosystem and resources including:

* Strategy and technology mentorship from SSIC Innovation and Technology
Fellows, along with other industry experts within Samsung R&D centers, to
advance their developments and businesses 
* Samsung`s global technology and product platforms, and opportunities to
partner with Samsung`s Device Solutions business units and Samsung`s
international R&D centers for product development, go-to-market strategies, and
channel development 
* The early-stage $100 million Samsung Catalyst Fund focused on components and
subsystems together with the $1 billion Samsung Ventures America Fund, to fuel
innovative technologies and business models through all stages of business 
* Strategic alliance and merger and acquisition opportunities throughout Samsung
Electronics` Device Solutions businesses

SamsungCreate Challenge

To jumpstart the $100 million Samsung Catalyst Fund, SSIC is holding a
competition, SamsungCreate Challenge, launching later in 2013. The program will
encourage artists, engineers, entrepreneurs, and other innovators to leverage
Samsung`s Device Solutions Architecture Platform. Aimed at identifying and
nurturing visionaries seeking to use technology to improve our lives, the
contest will award $10 million in seed investments for winners and will also
include incubation and support from SSIC`s Innovation and Technology Fellows and
partnerships with Samsung R&D technologists. Additional details on the
SamsungCreate Challenge will be announced at a later date. 

To learn more about the Samsung Strategy and Innovation Center and its Samsung
Catalyst Fund, please email 

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. is a global leader in consumer electronics
andthecore components that go into them. Through relentless innovation and
discovery, we are transforming the worlds of televisions, smartphones, personal
computers, printers, cameras, home appliances, medical devices, semiconductors
and LED solutions. We employ 227,000 people across 75 countries with annual
sales exceeding US$143 billion. Our goal is opening new possibilities for people
everywhere. To discover more, please visit 

Samsung and the stylized Samsung design are trademarks and service marks of
Samsung Electronics Co., Ltd. Other trademarks are the property of their
respective owners.

Samsung Semiconductor
Chris Goodhart, 408-544-4122

Copyright Business Wire 2013