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| Industry | Consumer electronics Health technology Internet of Things Artificial intelligence[1][2] |
|---|---|
| Headquarters | , |
Area served | Worldwide |
Key people | Young Sohn |
| Parent | Samsung Electronics |
| Website | www |
Samsung Strategy and Innovation Center (SSIC) is a division ofSamsung Electronics. It works with entrepreneurs and corporate partners to invest in disruptive technologies, such as artificial intelligence,digital health, mobility, the Internet of Things, and other consumer-facing applications of data-driven technology.[3][4][5]
SSIC was founded in 2012 and is headquartered inMenlo Park, California with additional locations inSan Jose, California,Paris, France,Tel Aviv, Israel andSeoul, South Korea.[6] SSIC is led by Young Sohn, Samsung Electronics' president and chief strategy officer.[7]
In February 2013, Samsung announced it was establishing the Samsung Strategy and Innovation Center to create a "global engine to accelerate innovation and to drive new business creation."[8][9] As part of that effort, Samsung also launched theSamsung Catalyst Fund, a multi-stage venture capital fund that operates with SSIC to expand Samsung's mobile, device solutions and consumer electronics groups.[10] Young Sohn, Samsung's president and chief strategy officer, was appointed to lead SSIC at the time of its founding.[11]
In 2014, SSIC launched the Smart Health Initiative and announced a health technology platform,Simband. It is a wearable digital health device with a custom sensor module that developers use to design digital health algorithms, analyze real-time health data, and connect to a data exchange platform.[12] In 2015, SSIC announced the Samsung ARTIK platform for IoT applications,[13] and the Samsung ARTIK Challenge, which invited contestants to develop technology to reduce global water consumption.[14] In 2016, SSIC partnered withNestlé's Institute of Health Sciences onIoT and nutrition science to develop applications for personalized fitness and nutrition data.[15]
In 2017, SSIC helped secure the $8 billion acquisition ofHarman International Industries.Young Sohn was appointed Chairman of the Harman board of directors upon the acquisition's completion.[16][17] That same year, SSIC established the $300 million Samsung Automotive Innovation Fund to invest in the automotive sector.[18]
In 2018, SSIC introduced Samsung DRVLINE, an open, modular, and scalable autonomous vehicle platform.[19] Samsung decided in 2018 to shut down the ARTIK business that had been started by SSIC in 2015.[20]
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