Lenovo announced the launch of Lenovo Capital and Incubator Group (LCIG) at an event in Beijing, which is to support innovations outside of Lenovo. An investment of $500 USD million would be made initially into projects and companies that are on lines of cloud computing, big data, artificial intelligence, robotics, and internet services.
Lenovo CTO He Zhiqiang said “Technology breakthroughs are changing the way all of us live today. With our long-industry history and experience of driving and developing core innovations, we’re well-prepared to shape the future of game-changing technologies through funding and nurturing start-ups and bringing incubator projects to market.”
Lenovo Capital has invested in technologies such as Nok Nok Labs in the US Silicon Valley and VC CPI in Israel. They have already invested in 40 start-ups that focus on technologies applicable to industry and individuals including iDreamSky, Face++, StyleWe, Shopex, ZAKER, Diting Technology, SMARTX, etc.
SHAREit, Lenovo Cloud, Lenovo Connect, Online Biometric Authentication, Lenovo Finance, Lenovo Smart Healthcare, and Lenovo New Glass are a few of the subsidiaries of LCIG. Lenovo Capital will be incubating its subsidiaries. Lenovo Capital has also joined hands with institutional investors in the US and Israel to let start-ups experience the globalized investment market.
In addition to the funds, Lenovo capital also provides startups with different kind of resources across the value chain, from a global R&D structure to supply chain to reduce very high initial costs. Lenovo also has the Lenovo accelerator to help global technology entrepreneurs in the early stages. The focus of the accelerator is core technology and Technology, and Media Telecommunications.