Smarter Planet is an umbrella concept under which IBM aims to uncover and foster technology that moves society forward in big ways. Think about smarter systems across just about every industry that can lead to things like improved electrical grids, traffic management systems and protection online - to name a few examples.
IBM's SmartCamps attempt to uncover startups working on these kind of problems. IBM connects VCs, mentors and startups, and then, intriguingly, sits back. IBM doesn't invest in startups directly, nor does it actively nurture them. Instead, VCs do the work, and happily too, as selling a company on their roster to IBM, an IBM partner or client is a compelling exit. IBM also invests in VC funds, about 70 around the world.
It's an interesting approach, and if you look beyond the monetary and societal payoffs, a valuable one for the entrepreneurial ecosystem.
IBM recently held its first SmartCamp in Africa and we had a chance to sit down with Martin Kelly, an IBM Venture Capital Group partner for the EMEA region and the mastermind behind SmartCamp.
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