Boone CEO Speaks on Defense Innovation at Orange Silicon Valley
SAN FRANCISCO, CA: Boone Group CEO Joy Shanaberger traveled to San Francisco on Thursday to speak at the Orange Silicon Valley Corporate Venture Summit.
Hosted by the Bay Area division of Orange — one of the world’s leading telecommunications operators — the invitation-only Summit convened representatives from BMW i-Ventures, In-q-Tel, Verizon Ventures, Yamaha Motor Ventures, Honeywell, Monsanto Growth Ventures, and more.
Corporate venture investment recently hit a 15 year high, representing 10 percent of all venture capital dollars invested — to the tune of $7.5 billion dollars. In 2016 alone, one out of every five venture investments in the US are being made by corporate funds.
The summit convened representatives from major corporations around the country to discuss the importance of corporate venture investment as it plays into an overarching innovation strategy. Ms. Shanaberger drew a comparison between government and major corporations, noting: “Government cannot take an equity stake in a small innovative or specialist firm after the manner of a corporation, but agencies have come up with ways to foster innovation and new products by creating a separate, independent space for R&D that is more conducive to innovation.”
Ms. Shanaberger was joined on a panel by Ryan Rakestraw, a Principal at Monsanto Growth Ventures, Victoria Cheng, a Senior Vice President of Citi Ventures, and Punit Chiniwalla, a Senior Director of Singtel Innov8 Ventures.
For more information about Orange, or the Corporate Venture Capital Summit, please visit www.cvcsummit.com