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Samsung Strategy and Innovation Center

Samsung Strategy and Innovation Center (SSIC) is a division of Samsung Electronics. It works with entrepreneurs and corporate partners to invest in disruptive technologies, such as artificial intelligence, digital health, mobility, the Internet of Things, and other consumer-facing applications of data-driven technology.[3][4][5]

SSIC was founded in 2012 and is headquartered in Menlo Park, California with additional locations in San Jose, California, Paris, France, Tel Aviv, Israel and Seoul, South Korea.[6] SSIC is led by Young Sohn, Samsung Electronics' president and chief strategy officer.[7]

History

In February 2013, Samsung announced it was establishing the Samsung Strategy and Innovation Center to create a "global engine to accelerate innovation and to drive new business creation."[8][9] As part of that effort, Samsung also launched the Samsung Catalyst Fund, a multi-stage venture capital fund that operates with SSIC to expand Samsung's mobile, device solutions and consumer electronics groups.[10] Young Sohn, Samsung's president and chief strategy officer, was appointed to lead SSIC at the time of its founding.[11]

In 2014, SSIC launched the Smart Health Initiative and announced a health technology platform, Simband. It is a wearable digital health device with a custom sensor module that developers use to design digital health algorithms, analyze real-time health data, and connect to a data exchange platform.[12] In 2015, SSIC announced the Samsung ARTIK platform for IoT applications,[13] and the Samsung ARTIK Challenge, which invited contestants to develop technology to reduce global water consumption.[14] In 2016, SSIC partnered with Nestlé's Institute of Health Sciences on IoT and nutrition science to develop applications for personalized fitness and nutrition data.[15]

In 2017, SSIC helped secure the $8 billion acquisition of Harman International Industries. Young Sohn was appointed Chairman of the Harman board of directors upon the acquisition's completion.[16][17] That same year, SSIC established the $300 million Samsung Automotive Innovation Fund to invest in the automotive sector.[18]

In 2018, SSIC introduced Samsung DRVLINE, an open, modular, and scalable autonomous vehicle platform.[19] Samsung decided in 2018 to shut down the ARTIK business that had been started by SSIC in 2015.[20]

External links

References

  1. Janet Burns. Wearable AI Detects Tone Of Conversation To Make It Navigable (And Nicer) For All Forbes, 2017-02-06, retrieved 2019-02-05^
  2. Song Su-hyun. Samsung hosts insider expo for growth with 'disruptive technologies' The Korea Herald, 2017-10-29, retrieved 2019-02-05^
  3. Shara Tibken. Samsung's next big thing: Gaining street cred in Silicon Valley Cnet, 2014-11-10, retrieved 2019-02-05^
  4. Samsung showcases the future of connected living at CES TradeArabia, 2019-01-08, retrieved 2019-02-05^
  5. Aaron Tilley. Samsung Will Invest $1.2 Billion Into US For 'Internet Of Things' Forbes, 2016-06-21, retrieved 2019-02-05^
  6. Megan Rose Dickey. Samsung Is Building A $300 Million HQ Just 20 Minutes Away From Apple Business Insider, 2013-07-10, retrieved 2019-02-05^
  7. Niv Lilien. Inside Samsung's innovation center: The Israel hub hothousing the next big thing in tech Zdnet, 2015-03-05, retrieved 2019-02-05^
  8. Sarah Silbert. Samsung to put $1.1 billion toward new innovation center, business creation Engadget, 2013-02-04, retrieved 2019-02-06^
  9. Troy Wolverton. Samsung sets up new $100 million venture fund in Silicon Valley The Mercury News, 2013-02-04, retrieved 2019-02-06^
  10. Jean Baptiste Su. Samsung Details Investment Strategy At Third Annual CEO Summit In San Francisco Forbes, 2017-10-11, retrieved 2019-02-06^
  11. Ryan Lawler. Samsung Launches Strategy And Innovation Center, Will Invest $1.1 Billion On Innovation Through Two Funds TechCrunch, 2013-02-04, retrieved 2019-02-06^
  12. Alice Truong. Samsung Introduces A Wearable Health Tracker That Geeks and Insurance Companies Will Love Fast Company, 2014-05-28, retrieved 2019-02-06^
  13. Neil McAllister. Samsung debuts Artik, its new software n' chips for the Internet of Stuff The Register, 2015-05-13, retrieved 2019-02-06^
  14. Caleb Kraft. Samsung's Challenge Tackles Drought with IoT Make, 2016-08-15, retrieved 2019-02-06^
  15. Joseph Keenan. Samsung and Nestlé team to develop digital platform for better health FierceBiotech, 2016-07-29, retrieved 2019-02-06^
  16. Cho Mu-Hyun. Samsung completes $8 billion Harman acquisition Zdnet, 2017-03-11, retrieved 2019-02-05^
  17. Paul Sawers. Samsung creates $300 million fund and new business unit for autonomous driving tech Venture Beat, 2017-09-14, retrieved 2019-02-05^
  18. Ingrid Lunden. Samsung launches $300M autonomous driving fund, puts $90M into TTTech TechCrunch, 2017-09-14, retrieved 2019-02-05^
  19. Swapna Krishna. Samsung introduces autonomous driving platform called DRVLINE Engadget, 2018-01-08, retrieved 2019-02-05^
  20. Michael Herh. Samsung Electronics to Shut Down IoT Platform ARTIK Business BusinessKorea, 2018-12-12, retrieved 2019-09-06^