It is an honor to take over as chairman of the Global Corporate Venturing Leadership Society’s advisory board—and to do so at this pivotal moment in which we are on the frontlines of innovations that have the potential to reshape the world. From advanced machine learning to quantum computing—to the growing impact of the Tech For Good movement—the investments we make today will have profound implications for tomorrow.
That’s why I believe organizations such as this one are so important.
As leaders of the corporate venturing community, we have an opportunity to champion an ecosystem of open innovation to ensure a more effective and efficient allocation of capital towards the best ideas. We can create the partnerships that turn nascent concepts into scalable products and services. In short, we catalyze the next generation of great technology.
We should be proud of what we’ve accomplished; I know I am. But I also know that we can, and should, be even more ambitious in our work.
In the coming years, the role of technology in our everyday lives is going to come under increased scrutiny. Regulators and consumers alike are going to ask questions about privacy, data use, inclusivity, and the ability of technology to solve pressing global issues. I believe—as leaders of this industry—it is incumbent on us not only to answer those questions, but to use corporate venturing to empower entrepreneurs to make the world a better place.
After all, we are not merely investors in companies, but investors in the future of society. And so, over the next two years, I will encourage this organization to use its platform—and others, like the Extreme Tech Challenge—to guide the trajectories of AI, healthcare, mobility, and more to ensure that these technologies positively benefit all.
Of course, we are a diverse group; we won’t agree on every vision for the future. But I believe that through our conversations, discussions, and debates, we will uncover new possibilities and opportunities and forge a better way forward.
I want to thank my predecessors—Claudia Fan Munce of IBM and Wendell Brooks, president of Intel Capital—as well as the advisory board and the entire Global Corporate Venturing Leadership Society for affording me the privilege of serving as your chairman. I look forward to working with, partnering with, and of course, investing with all of you in the years ahead.
Sincerely,
Young Sohn
President and chief strategy officer of Samsung Electronics
‘‘We are not merely investors in companies, but investors in the future of society”
Download the World of Corporate Venturing 2020 PDF here
