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

Contact:
NEC
Seiichiro Toda        
s-toda@cj.jp.nec.com
+81-3-3798-6511
Source: NEC Corporation
Sectors: Cloud & Enterprise

Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


NEC develops marketing strategy planning & effectiveness simulation technology using generative AI
March 25 2024 09:08 JST
 
NEC and NTT successfully conduct first-of-its-kind long-distance transmission experiment over 7,000km using 12-core optical fiber
March 22 2024 07:38 JST
 
NEC and Tokyo Medical and Dental University use AI to assist self-care for chronic lower back pain
March 21 2024 09:02 JST
 
NEC and Skyloom to Pioneer 100 Gbps Space Optical Communications, Transforming Global Internet Connectivity
March 20 2024 14:30 JST
 
NEC named to list of Top 100 Global Innovators by Clarivate for 13th consecutive year
March 07 2024 10:24 JST
 
Transgene, NEC, and BostonGene Expand Collaboration for Phase I/II Clinical Trial of Neoantigen Cancer Vaccine TG4050
March 05 2024 08:05 JST
 
Cisco, NEC and TIM Brazil improve TIM Brazil network quality with automation and advanced data analytics to enhance business customers experience
March 01 2024 21:00 JST
 
NEC Selected by NTT DOCOMO as a Virtualized Radio Access Network (vRAN) Vendor
February 26 2024 16:54 JST
 
Clear Mobitel Successfully Deploys NEC 5G SA Cloud Native Core Network to Accelerate the Adoption of Innovative 5G Solutions in the UK and the Channel Islands
February 22 2024 16:13 JST
 
NEC UPF Achieves Industry-Leading High Performance in 5G Core Networks, reaching 1.3Tbps Throughput
February 22 2024 15:10 JST
 
More Press release >>

Latest Press Release


More Latest Release >>