US-based enterprise software supplier Infragistics has formed a $50m corporate venture capital vehicle dubbed Infragistics Innovation Fund and Lab.
The fund will target intrapreneurs from within the organisation who are developing innovation technologies related to Infragistics’ user interface and user experience (UX) design software products.
Tobias Komischke, head of data analytics, artificial intelligence and machine learning for Infragistics, who had previously held senior director of design and UX roles at the company, will lead the fund’s activities.
Komischke said: “By giving our team the space and freedom it needs to create, and generating early feedback from our established industry connections, we are certain that we will bring the right tools to market.
“We know that Innovation Labs fail when they do not strike the perfect balance of freedom and structure, making my mandate twofold: create freedom by eliminating our team’s urgency to generate revenue, while introducing structure through a well-defined fail-fast-and-learn-quickly approach. The sooner we learn, the sooner we can begin investing vigorously in the projects that prove promising.”
