Japan-based automotive supplier and safety technology company Takata Corporation has backed venture firm Lakeland Venture Development to pursue companies developing technologies which "save lives and improve human safety and well-being".
Craig White, co-founder of Lakeland Venture Development, said: "We are honored and excited to work with Takata. Together we are applying a hybrid model; part corporate venturing, part business development accelerator, to fund and support startup and existing companies with ideas about human health and safety that can become significant businesses."
Shigehisa Takada, president of Takata Corporation, said: "For 70 years, Takata’s commitment has been ‘Our Mission – Your Safety. Our focus has been to pioneer new safety technologies for the global automotive industry, but we continue to reach beyond and support broader ideas to save lives for generations to come. We joined with Lakeland Ventures Development to help us achieve this goal."
Lakeland promises to update further details on its website in the coming month, as to its plans. Last month it collaborated with start-up accelerator Hub Ventures to identify up to four human safety-focused startups to participate a 12-week business accelerator programme this Spring, providing each startup with $20,000 in seed funding.
Lakeland also lists Scott Flood, formerly senior partner at advertising and public relations company Ogilvy & Mather and a co-ordinator of Obama for America, as another co-founder.