General Motors is seeking to further shake its image as a corporate dinosaur with the creation of a venture capital subsidiary, General Motors Ventures, LLC. The new company "plans to invest in start-up companies working in a variety of fields, including renewable fuels, information and entertainment systems and advanced materials." Companies that could help with other business strategies that could be used by GM, such as new distribution systems, may also be part of the mix.
The company is beginning with an investment of $100 million from GM. The company is taking a cue from technology companies such as Google and Intel, which have their own venture capital arms.
GM has been involved with technology issues beyond cars for decades, including the Futurama at the 1939 New York World's Fair and as recent as their involvement with Coskata for ethanol production. The new subsidiary will likely help make the new GM a more forward-looking and flexible company.
via: New York Times
written by Garrett, June 08, 2010
written by Kensingtongreen, June 08, 2010
|< Prev||Next >|