Samsung on Wednesday announced support for early start-up companies focused on emerging technologies. Through its Global Innovation Group, the company has established a $ 150 million fund focused on virtual reality, artificial intelligence, Internet of Things, and “other new cutting-edge technology companies.”

So far, Samsung has invested in 10 startups, including Converge Industries, Dashbot, Entry Point VR, Filament, Intezer, LiquidSky, Otto Radio, 2Sens, SafeDK and Virtru. The purpose of the fund is only to invest in seed screening for the B round enterprises. p1cn012n

“Our investment is bringing the strength of the Samsung platform to start-up companies, accelerating their growth and ultimately their success,” said Brendon Kim, vice president and general manager of Samsung’s Nest Ventures. “Samsung’s NEXT FUND expands our global reach and strength, while giving Samsung the opportunity to reach even greater ideas, products and talent.”

Samsung declined to say how much each venture will get. In addition, it seems the company’s next step may be aimed at the Israeli market, in September this year, a new office will be launched in Tel Aviv, Israel. At present, Samsung has five offices dedicated to innovation in the world, located in San Francisco, Mountain View, South Korea and New York, and plans to increase office space later this year. cu16025ecpb

Next, Samsung’s predecessor, Global Innovation Center, changed its name because “our new name reflects our enthusiasm for working with technology innovators to take them to the next level – creating great ideas, Product growth for the prosperity of enterprises, and expand the scale of the Samsung ecosystem to transform.