Konica Minolta sets up €10m startup fund

October 29, 2014 by admin
Filed under: Collaboration, News

Japanese printer company Konica Minolta has set up a €10m fund to help startups in Europe over the next two to three years.

The fund is managed by the European Business Innovation Centre (BIC), based in London, set up this year. Any startup can apply to the fund, which is focussing on the digital workplace, healthcare business, information automation and business technologies.

“Our vision is to develop innovative products, which will revolutionise the market. That is why we are now going through an amazing and radical change. A company, whose roots are printers, is now involving the community and start-ups in order to create innovations on a common basis. This is a radical change – from exclusively proprietary products to collaborative co-innovation,” said Dr. Dennis Curry who heads up the European BIC.

“Start-ups profit enormously from collaboration with established companies like Konica Minolta”, said Curry. “We own resources, networks and management know-how. Being a partner with us means always playing a part in designing the future and obtaining privileged access to Konica Minolta’s industry-leading know-how. Our partners get access to our leading R&D, including top-tier scientists and engineers worldwide.” Start-ups in particular can speed up the time to market for their new products by leveraging our supply chain and sales channels. They accelerate their return on investment and company growth.“Konica Minolta wants to draw in Europe’s top talent from start-ups. To create this win-win situation, we need platforms upon which companies and start-ups can meet,” he said.

The first strategic partner of Konica Minolta is the Austrian augmented reality start-up Wikitude. Today, Konica Minolta announced its initial intention to partner and investment in the company. “When a multinational company like Konica Minolta engages in a partnership dedicated to augmented reality, the possibilities are enormous. While we at Wikitude will provide our award-winning technology, expertise and vision, it will be Konica Minolta’s market presence and business network to mark the next milestone on our mission to augment the enterprise world”, Martin Herdina, CEO of Wikitude says.

Konica Minolta is also launching a “Leading Edge Partner Community”, a pan-European tool to build up new partnerships and develop innovations together with these partners. The community is a place to collaborate online, i.e. in special Leading Edge Networking Sessions (LENS), as well as during client events and start-up events. It is a place to achieve knowledge transfer and advance the commercialisation of ideas and prototypes.Anyone with an idea can join the community and apply for funding. Promising development ideas will pass through a formal investment process consisting of five review points, which Konica Minolta will use to filter the most viable partners to take a business idea right through to commercialisation. The emphasis is on co-innovation, on working with others in related fields to accelerate a proof of concept or vision.

It has set up a specific platform especially for startups at https://pioneers.konicaminoltabic.spigit.com. If start-ups have an idea, a concept or product connected to the related fields, they can join the platform and submit their ideas. The best ideas will win the opportunity to shape the future digital workplace in the Konica Minolta labs and receive funding.

http://bic.konicaminolta.eu/