The CITRIS Foundry has recently partnered with Groupe INSEEC, a renowned business school and research center based in France. The INSEEC Group has established a new venture capital fund, Blue Bear Ventures, which “will invest principally in startups from UC Berkeley.”
(Silicon Valley, Paris — December 13, 2016) Groupe INSEEC has created a foundation to give itself a new tool to promote a culture of innovation for the benefit of their students. In this context, Groupe INSEEC announces a new partnership with the CITRIS Foundry startup accelerator along with an investment in its affiliated venture fund, Blue Bear Ventures (BBV). This new venture capital fund will invest principally in start-ups from UC Berkeley, the top public university in the world, and the broader University of California system. Launched in 2013 on the UC Berkeley campus, the CITRIS Foundry is a highly selective program for the top 10% of start-ups that are building transformative technology companies in energy, robotics, health, agriculture, and other markets of the future. By building stronger ties to the UC Berkeley and Silicon Valley ecosystems, Groupe INSEEC has strengthened its international positioning on entrepreneurship and technology.
Alain Labat, President of the INSEEC Foundation has declared: “I’m very pleased to lead this innovative venture for Groupe INSEEC in Silicon Valley. Establishing this partnership with a leading start-up accelerator program on the Berkeley campus is strategically important for the INSEEC students interested in entrepreneurship and technologies of the future in Silicon Valley.”
Groupe INSEEC’s Executive Director Catherine Lespine commented: “After successfully launching an office for our students in the Financial District of San Francisco to benefit from innovation- and entrepreneurship-focused “Learning Expeditions,” we naturally sought a strategy to allow us to go even further. Being a financial and programmatic partner of Blue Bear Ventures is an exciting project that demonstrates our commitment to building strong relationships within the Silicon Valley ecosystem.”
Patrick Scaglia, co-founder of the CITRIS Foundry and Managing Director of BBV said: “We are very pleased to receive this initial investment from the INSEEC Foundation in Blue Bear Ventures; this reflects the strategic vision of Groupe INSEEC and its management of the Foundation. Additionally, this partnership provides the opportunity for the Groupe INSEEC business students to participate in the CITRIS Foundry Fellows program, working alongside the next generation of transformative technology startups and contributing to their success.”