Jun, 20 2018 12:12 JST

Source: NEC Corporation

NEC Establishes "NEC X" in Silicon Valley

- Accelerating new business development with cutting-edge technologies -

TOKYO, Jun, 20 2018 - (JCN Newswire) - NEC Corporation (TSE: 6701) today announced the establishment of NEC X, Inc. in Santa Clara, California, in the heart of Silicon Valley, in order to capitalize on the region's startup ecosystem and accelerate the development of new business based on the strengths of NEC's Central Research Laboratories technologies. Osamu Fujikawa, senior vice president with NEC and head of the company's Business Innovation Unit, is slated to become the CEO of NEC X as it begins operations in July 2018.

NEC X will leverage the ecosystem of NEC's talent and technologies in order to promote commercialization through open innovation. The new company will cultivate competitive technologies and human resources that possess an entrepreneurial spirit and make important contributions to NEC's creation of new social value.

NEC has a wide range of original and world leading technologies that have sprung from the company's global research centers. Until now, these have primarily been used for product development and commercialization within the company.

NEC X will encourage the participation of startups and venture capital firms endowed with the innovative business ideas of Silicon Valley, as well as receive support in the creation of new business from accelerator companies, while joining an ecosystem of new business development. These initiatives will result in the creation of an "outbound style" of business that actively provides state-of-the-art technology and new business ideas.

As one of the new company's first initiatives, NEC X will begin implementing the "NEC Accelerator Program" in July 2018 in order to launch the first startups in early 2019. This program is being created and promoted together with Singularity University(1), a leading provider of incubator and accelerator programs in Silicon Valley.

"We are delighted to hear that NEC is increasing their investment in the United States," said William Hagerty, U.S. Ambassador to Japan. "They, like so many other companies, have recognized that the U.S. market presents unparalleled opportunities for business development, and that now is the best time ever to expand their corporate footprint in America. We wish NEC every success with its latest venture."

"We established Singularity University to educate individuals and organizations about exponential thinking and technologies, to empower visionary leaders with an abundant mindset and to build strong communities," said Rob Nail, CEO and Associate Founder, Singularity University. "NEC X will catapult NEC forward to serve partners and customers in ways previously unimaginable. Singularity University is humbled and thankful to NEC for their partnership."

"NEC is now accelerating the monetization of its competitive technologies by creating diverse alliances as part of the 'strengthening of business development capabilities' in the 'restructuring of execution capabilities' that are outlined in the Mid-term Management Plan 2020(2) that NEC announced in January 2018," said Osamu Fujikawa, Senior Vice President, NEC Corporation. "The establishment of NEC X is an important advancement in this process, following the founding of dotData, Inc.(3) earlier this year."

For more information on NEC X, please see the following link:
http://nec-x.com/

(1) Singularity University
https://su.org/
(2) NEC establishes "Mid-term Management Plan 2020"
https://www.nec.com/en/press/201801/global_20180130_02.html
(3) Disrupting data science with artificial intelligence NEC establishes a startup in Silicon Valley for automating data analytics
https://www.nec.com/en/press/201804/global_20180426_01.html


About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. The NEC Group globally provides "Solutions for Society" that promote the safety, security efficiency and fairness of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, visit NEC at https://www.nec.com.


Contact:
NEC
Seiichiro Toda        
[email protected]
+81-3-3798-6511
Source: NEC Corporation
Sectors: Enterprise IT

Copyright ©2018 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Multimedia


 

Related Press Release


NEC Joins the ITxPT for Promoting Public Transport Technology Standards
September 21 2018 14:04 JST
 
NEC Biometrics Contribute to Security at the 18th Asian Games
September 21 2018 13:23 JST
 
NEC Showcases the Latest in Intelligent Public Transport Solutions at APTA's 2018 Annual Meeting
September 20 2018 09:03 JST
 
NEC Enhances Cybersecurity for ASEAN-member States with Training System in Thailand
September 14 2018 08:24 JST
 
NEC and Sightline Systems Collect, Analyze and Visualize IIoT Data in Coordination with AI
September 12 2018 12:24 JST
 
NEC Showcases the Latest in Intelligent Public Transport at InnoTrans 2018 - Berlin
September 11 2018 07:21 JST
 
NEC and Solace Collaborate on Data Connectivity
September 05 2018 07:47 JST
 
NEC Invests in Tascent, a U.S.-based Iris Biometric System Company
August 27 2018 15:57 JST
 
NEC's Transfer of Lithium Ion Battery Business
August 03 2018 16:18 JST
 
NEC: Northgate Public Services Acquires i2N Ltd to Expand its Justice Offering
August 02 2018 10:04 JST
 
More Press release >>

Latest Press Release


More Latest Release >>