De Beers Group To Consider Investments In Start-UpsJune 22, 17
(IDEX Online) – The De Beers Group has announced the creation of De Beers Ventures to actively consider the acquisition of minority equity stakes in start-ups and growth companies.
The new initiative will consider small investments in areas that may include downstream distribution, consumer brands, marketing platforms, security, cutting and polishing, and imaging technologies. The objectives of the investments will be to generate returns that are both strategic and financial.
Tom Montgomery, Senior Vice President of Strategic Initiatives, De Beers Group, said: “Not all good ideas can be generated or executed by a large corporation. We believe that harnessing the energy of entrepreneurs to pursue strategic opportunities that benefit De Beers and the diamond industry can be a cost-effective, risk-reduced way to pursue innovation.”
Entrepreneurs can submit their business plans and proposals to De Beers via www.debeersventures.com.
The announcement follows a similar one earlier this week from the Israel Diamond Exchange (IDE) that it is opening a Diamond Tech Innovation Center – a technological incubator for Israeli and international diamond-related start-ups. Diamond Tech will provide a home and financial support for start-ups that are in the initial stages of development.
The IDE plans to promote new technologies for diamonds in the broadest sense, reaching beyond gems and jewelry. This includes the use of diamonds in industrial platforms, robotics, semi-conductors, medical technologies, space technology, as well as software, finance, and B2B and B2C marketing platforms.