US-based home computing equipment manufacturer HP yesterday launched a corporate venturing arm named HP Tech Ventures.
HP Tech Ventures is essentially a descendant of Hewlett Packard Ventures, the unit formed by computing company Hewlett-Packard in 2014.
The firm split into two entities in November 2015 – HP and the business-focused Hewlett Packard Enterprise – and HP Tech Ventures represents HP’s own strategic investment subsidiary, whereas Hewlett Packard Ventures continues to invest in areas relevant to HPE.
The unit will invest in 3D transformation, immersive computing, mobility, internet of things, artificial intelligence and smart machine technology developers, but is yet to disclose its investment parameters cash-wise.
Andrew Bolwell, chief disrupter for HP, will lead the HP Tech Ventures group, which will report to Shane Wall, HP’s chief technology officer and head of advanced research division HP Labs.
Wall 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.”