HP Inc has announced the creation of a business group focused on new and emerging areas of technology, such as the Internet of Things, artificial intelligence and smart machines.
HP Tech Ventures will also focus on technologies that the firm refers to as 3D transformation, immersive computing and hyper-mobility.
The division will have teams in Palo Alto, California and Tel Aviv in Israel, and will look at strategic investments in, and partnerships with, up-and-coming firms working on the aforementioned areas.
Shane Wall, HP Inc chief technology officer and head of HP Labs, explained that the HP Tech Venture underlines the firm’s commitment to make a mark in new and emerging technology markets.
“The next technology revolution is shifting towards strategic markets that speak to HP’s strengths,” he said.
"With our global brand and broad reach into consumer and commercial markets worldwide, HP can help startups bring products to market, build their business and scale in the global marketplace as they grow."
The group will be led by HP ‘chief disruptor’ Andrew Bolwell, who will report to Wall. Bolwell said in a post on Twitter that he is "excited" to be leading the new effort.
The Tech Ventures team also has a new website, although it offers very little information beyond a contact form and a reference to the humble origins of the original HP in a Silicon Valley garage.
The move comes just six months after the split of HP into two entities was finalised, and underlines the growing pressure on firms to find new revenue streams in one, or many, of the future trends expected to affect the market.
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