GM Sets Up Venture Capital Subsidiary

General Motors is seeking to further shake its image as a corporate dinosaur with the creation of a venture capital subsidiary, General Motors Ventures, LLC. The new company "plans to invest in start-up companies working in a variety of fields, including renewable fuels, information and entertainment systems and advanced materials." Companies that could help with other business strategies that could be used by GM, such as new distribution systems, may also be part of the mix.

The company is beginning with an investment of $100 million from GM. The company is taking a cue from technology companies such as Google and Intel, which have their own venture capital arms.

GM has been involved with technology issues beyond cars for decades, including the Futurama at the 1939 New York World's Fair and as recent as their involvement with Coskata for ethanol production. The new subsidiary will likely help make the new GM a more forward-looking and flexible company.

via: New York Times

image credit: CC 2.0 by ralphbijker

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Publicity Stunt?
written by Garrett, June 08, 2010

I think this is more of a publicity stunt that an actual revelation on GM's part. GM for years has been looking into alternative fuels and the like... now they are just outsourcing their R&D department to the everyman with a good idea. Maybe this is a good sign, maybe it's just to become favorably viewed in the public eye.

Either way, looks good to me, and being from Detroit and positive autonews makes me happy.

I enjoyed your blog and have added it to my blogroll @ http://www.greencollarenvironmentalist.com

Good Move
written by Kensingtongreen, June 08, 2010

I think that the big companies which are not "venturing" out for new ideas will lose in the long run. The brain that can really make the technology moving on cannot be persuaded to do 8-hour-a-day office stunts, so, investing in that brain is probably the only way.

First blush sounds great dunnit??
written by Laurie, June 10, 2010

So generous of them to use some of the profits they've made via wars in the mid-east to actually do some good, huh? What happens more often is, the people they "help"' end up at their mercy when it comes to patents. When companies "sponsor" science, then the profit machine decides when some new product is worth actually pushing on the ignorant masses, or if it is counter to their own "vision" of how to make a buck. These patents end up lining a bird cage somewhere, and we get the same old war and pollution making profit machine. Sorry if I sound like a cynic. I much prefer the term "realist".
This is the reputation that these companies have. They deserve to be boycotted into oblivion, rather than bestow more investment money and faith in their agenda for "good".
What ever happened to a national agenda including state sponsored science and research and incentives toward innovation that is designed for the good of the people and the good of the whole and the good of the planet... instead, we put our faith and investments in private enterprises seeking only to benefit shareholders. Then we wonder why all the innovations that could provide a sustainable future for our children are stifled, hidden, suppressed... patents for new energy innovations end up lining a CEO's birdcage while it seems we will eventually drown in our own waste, like crowded rats...

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