Schneider Electric Announces Silicon Valley Innovation Program
New program introduces partnership and investment strategy dedicated to Internet of Things solution development.
Schneider Electric has announced its Silicon Valley Innovation program. Led by Paul Campbell, the newly appointed Vice President of Innovation, and based at the company’s Silicon Valley Innovation Center, the program is designed to scout and develop start-ups focused on applications related to the intersection of energy and the Internet of Things. The program opens with the announcement of three partnerships with start-ups based in the Boston and Silicon Valley areas and will be a key resource for the company’s innovation efforts around the world.
The Innovation program will leverage Schneider Electric’s R&D resources and support from Aster Capital, an energy and IoT focused venture capital firm, to partner or invest in new companies and engage Silicon Valley-based universities, to help expand Schneider Electric’s open innovation strategy. The goal of the program is to explore new growth opportunities outside of existing markets and technologies and extend the company’s existing assets into new opportunities.