US-based car maker Ford Motor Company is reportedly expected to open a research and development office in California to connect with entrepreneurs and universities as part of a provisional corporate venturing strategy.
Venkatesh Prasad, senior technical leader for open innovation with Ford Research and Innovation, told local news provider LA Times: "With so many opportunities and so much potential, our new lab will allow us to scout new technologies and partners in their own environment and continue our expansion beyond the traditional automaker mindset to drive innovation."