HP Inc. has just announced that it will be launching a new investment division called HP Tech Ventures to fund early stage startups.
The company, which consists of Hewlett-Packard's former PC and printer divisions, announced its intent to invest in upcoming startups on Tuesday. HP Tech Ventures has already been operating for some time and originally began before Hewlett-Packard split into two separate companies. The company's CTO, Shane Wall, noted that the investment group has already made a few investments.
HP Tech Ventures hopes to target emerging technologies such as virtual reality, 3-D printing, wearables, artificial intelligence and the Internet of Things (IoT). Wall further detailed the ambitions of the investment group: “What we have been focusing on is investments that help us accelerate a current business, or help us accelerate disruptions that are now in the lab.”
Wall made it clear that HP Tech Ventures will be focusing its attention on critical investments that will help the company as a whole. This differs from many companies who see investments in potential startups as a means of earning their companies more money each quarter.
HP Tech Ventures will have two teams, one in Palo Alto, California the home town of Hewlett-Packard and one in Tel Aviv, Israel which houses some major HP operations along with a vibrant startup scene.