Samsung announces $150 million global fund to support early stage tech startups

by | Jan 5, 2017

Coming in early into new year, Samsung has taken another step to deepen its brand awareness and also support entrepreneurship at all levels.

This morning Samsung NEXT (formerly the Samsung Innovation Centre) announced plans to build upon its multi-stage global innovation platform to empower tech entrepreneurs with funding, resources and deep-domain expertise.

The Samsung NEXT Fund, as it is so called, is a $150 million venture capital investment geared towards increasing Samsung’s support of early stage startups pursuing advanced software and service innovation. The fund targets pre-seed to Series B investments with a focus on virtual reality, artificial intelligence, IoT and other emerging technology frontiers across the globe.

So far, Samsung claims several companies — Converge Industries, Dashbot, Entry Point VR, Filament, Intezer, LiquidSky, Otto Radio, 2Sens, SafeDK and Virtru — have already received capital from the fund. Samsung believes that the investment will help accelerate the growth of startups and ultimately ensure their success.

In addition, Samsung NEXT is launching multiple offices across the world in line with its bid to expand continental-wise. The most recent being Samsung NEXT Tel Aviv which launched in September 2016, following offices at Mountain View, New York, San Francisco and Korea.

At CES 2017 Eureka Park, Samsung will be showcasing startups from its portfolio that are pushing boundaries with new frontier technologies and innovative solutions.

For more information on how to gain access to the fund, visit

Ifeanyi Ndiomewese
Ifeanyi Ndiomewese

Ifeanyi is a desk reporter-turned administrator. Outside of work, I love to read and travel.

On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

Notify of
Inline Feedbacks
View all comments

Recent News

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap