Panasonic forms joint venture with San Francisco firm to foster innovation

Source: Xinhua | 2018-03-02

Panasonic, a global electronics tech leader, said Thursday that it has established BeeEdge, a joint venture with Scrum Ventures, a San Francisco-based early-stage venture capital firm, to foster innovation.

Panasonic said in a statement that the joint venture will identify technologies within the Japanese electronics company that are not fully utilized and create independent startups to commercially develop them.

"BeeEdge will act as an accelerator with Panasonic and Scrum bringing their experience collaborating with and supporting entrepreneurs," Panasonic said.

Panasonic, known for creating consumer electrics that enhance customer lifestyles, has been increasing its investment to create new consumer electronic experiences and businesses for the next generation.

Scrum Ventures is well-positioned to bring expertise to BeeEdge to advise the startups because of its strong understanding of new trends, technologies, and the Silicon Valley startup ecosystem, Panasonic said.