Lenovo Launches $500 Million Startup Fund for Robots, AI, Cloud Computing, and Big Data

Published by , May 15, 2016 11:52 pm

(Forbes) Lenovo has launched a $500 million startup fund that will invest in cloud computing, big data, AI (artificial intelligence), internet services and robotics. Lenovo is making a later push than its competitors into the sector, analysts say the AI and robotics market is still relatively underdeveloped.The Chinese government is making robotics and AI a priority as part of its Made in China 2025 initiative, but so far the country lags behind other world leaders.
“Lenovo also has a chance – depending on how quickly they move – because the market is still in its early stages. Nobody has set the standards yet,” said Ken Xu, a partner at the Shanghai-based venture capital firm Gobi Partner. The fund could identify potential growth areas in the market and new technology, but ultimately its success will come down to whether Lenovo allows it to independently operate, Xu said. The fund will be internally managed by the Lenovo Capital and Incubator Group, which was created in March earlier this year to act as an incubator for the company’s other products.

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