Samsung announces $1B fund for innovation

“This is an exciting opportunity for us to engage with entrepreneurs and innovators and empower them to leverage Samsung’s technology and global brand presence to bring our collective visions to market,” says Sohn.

To jumpstart Samsung’s $100 million Samsung Catalyst Fund the SSIC will be holding a competition, SamsungCreate Challenge, later this year. The contest will award $10 million in seed investments for the winners, and will include incubation and support from SSIC’s Innovation and technology Fellows and partnerships with Samsung R&D technologists.

It appears that this is an effort to get people to develop to their platform. More info to follow.

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