Startup Talk: Tech Giant Intel Starts $125 Million Startup Fund For Minorities, Women
by July 2, 2015 6:34 am 115 views
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TECH GIANT INTEL STARTS $125 MILLION STARTUP FUND FOR MINORITIES, WOMEN
Intel Capital, the investment arm of Silicon Valley tech giant Intel Corp., has a $125 million venture capital fund that will invest in technology startups run by women and underrepresented minorities. The largest of its kind, the Intel Capital Diversity Fund’s investments will cover a broad spectrum of innovative industries.
“We believe that a diverse and inclusive workplace is fundamental to delivering business results,” said Intel CEO Brian Krzanich. “Our goal with this new fund is to meaningfully support a technology startup workforce more reflective of society, and ultimately to benefit Intel and the broader economy through its success.”
The new fund includes the announcement of the tech giant’s first investments in four companies, which will gain access to Intel Capital’s business development programs, global network, technology expertise and brand capital.
The new venture capital fund follows Intel’s January announcement of its Diversity in Technology Initiative, which is designed to encourage more diversity at Intel and within the technology industry at large. Intel has declared its intent to achieve full representation of women and underrepresented minorities in its U.S. workforce by 2020.
For more information about the Intel Capital Diversity Fund, visit here.
SPOTRIGHT IN THE SPOTLIGHT AT 1 MILLION CUPS
Todd Greer with SpotRight was one of the presenters at Wednesday morning’s 1 Million Cups event in downtown Little Rock. Greer, a former Acxiom executive, led a recapitalization of the young company that originated in Colorado, but now has offices in Little Rock. What does SpotRight do and where is the social data and analytics company headed? Read more here.
GENERAL WIRELESS TAKES OVER RADIOSHACK BRAND
General Wireless Operations Inc. announced Tuesday that it has closed on a $26.2 million purchase of the RadioShack brand, giving the company the ability to operate the retailer under the RadioShack brand name.
“We are excited to be moving forward as a new and reinvigorated company under one of the most recognized consumer brand names of all time,” said Ron Garriques, CEO of RadioShack.
General Wireless acquired 1,743 RadioShack stores in April 2015 while also announcing “The Sprint Store at RadioShack,” a partnership that will provide RadioShack’s customers with access to Sprint’s mobile plans, devices and accessories as well as RadioShack’s full suite of products and accessories.
FORD INTRODUCES NEW VEHICLE CAMERA TECHNOLOGY THAT GLANCES AROUND CORNERS
Ford Motor Co. is introducing new vehicle camera technology that can help see around corners even when drivers cannot, aiding in reducing driver stress and potentially averting accidents, the company said.
The new available split-view camera feature helps drivers see traffic and obstacles that enter the vehicle’s path from the side by displaying a 180-degree view of the area in front of or behind a vehicle. Ford introduced split-view on the 2015 Ford Edge and 2016 Explorer in the U.S. and China.
In addition, a tiny telescopic jet washer keeps the front camera clean on every vehicle with split view. Explorer also incorporates a washer for the rear camera.
INDIA TO SURPASS U.S. AS SECOND LARGEST SMARTPHONE MARKET BY 2017
According to the latest research from Strategy Analytics, India will soon overtake the United States to become the world’s second largest smartphone market by 2017, selling an impressive 174 million units.
Overall global smartphone sales are forecasted to grow from 1.5 billion units in 2015 to a record 1.7 billion by 2017. China, India and the U.S. are the big three countries driving smartphone growth worldwide.
“We forecast 164 million smartphones will be sold in the United States in 2015, climbing marginally to 169 million in 2017. India will sell 174 million units and overtake the maturing U.S. market to become the world’s second largest smartphone market,” said Woody Oh, Director at Strategy Analytics.
The full report, “Global Smartphone Sales Forecast by 14 Operating Systems for 88 Countries,” is published by the Strategy Analytics Wireless Smartphone Strategies (WSS) service, details of which can be found here.