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Xerox to Deliver PARC Magic to Startups
Chloe Albanesius, PC Magazine, September 21, 2007
Excerpts from the article:
In an effort to collaborate with more outside talent, the Palo Alto Research Center (PARC) on Friday announced the formation of an incubator that will provide PARC research expertise to technology startups.
The venture, dubbed Startup@PARC, will bring in selected companies to partner with PARC researchers, with the intent that the teams fully develop their products and connect then with venture capitalists for additional funding, said Mark Bernstein, president and center director of PARC.
...The success of SolFocus and Powerset led to the creation of Startup@PARC, Bernstein said. PARC's expertise can help startups with "everything from having a place to be, connecting with [venture capitalists], angel investors and tech competencies," he said.
The venture does not have set deadlines by which participants must produce concrete results. "We expect each engagement to be unique [and] to have a fair amount of customization on this," Bernstein said. "It is not a cookie cutter process."
In terms of financing, PARC is "putting our own funds in terms of research talent" and the intellectual property that PARC is investing, he said. "We can get them in front of venture funding and help support the business as it goes forward. It is not as if once they're funded, we don't have anything more to offer."
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