Feeds

ZTE starts US$15.5m VC fund

In-house crowdsourcing for cash

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Chinese vendor ZTE has set up a US$15.5m venture capital fund targeting the IP smarts of its own employees.

The company is looking to mine the brains trust of its own 80,000-strong workforce in the search for technology solutions, business models and management processes to invest in as part of its ‘Innovative Fund’.

ZTE chairman Hou Weigui said “the creation of this endowment is intended to foster innovative ideas and projects. The fund is one way ZTE is taking action to create ground-breaking new telecommunications solutions.”

The VC fund intends to support new innovation and aims to create a testing ground for ideas that break with tradition.

Despite stiff competition from rivals such as Huawei, ZTE emerged as China’s number one holder of international patent applications last year. It achieved a global No2 ranking with 1,863 patent applications last year, up from its No23 position in 2009 with 1,346 applications.

"Mobilization of our employees as creators of ideas for investments for the fund is part our strategy to create bold new concepts and products in the telecom industry,” he added.

The move is part of a bold international expansion plan from the Chinese giant. Last week the vendor announced that it would team up with several global telecommunications giants to create 10 international innovation centers in South America and Europe located in markets including Spain, the UK , France and Germany.

The company also flagged plans to create local innovation centers in China through partnerships with the country’s largest telecommunications operators. In China, ZTE has established collaborative research institutes with four research institutes and 19 universities including Peking University and Tsinghua University. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
French 'terror law' declares WAR on the INTERNET itself, say digi-rights folks
Liberté, Égalité, Fraternité: Two out of three ain't bad
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.