Japan-based diversified materials manufacturer, Nitto Denko Corporation, has located its Nitto Innovations, Inc. division in Santa Clara, California.
The company said it decided to open a division in the center of Silicon Valley in order to develop new businesses through collaboration with venture capital companies, as part of an ongoing pursuit of “the creation of ample business opportunities.”
“Located in Silicon Valley where a large ecosystem of startup companies exists, NII and its experienced local staff, with the group-wide support of Nitto, is committed to external venture company growth and contributing to Nitto’s business,” the company said.
“NII strives to discover new technology and businesses in and around the Silicon Valley and other areas, with a focus on corporate venture capital and business cooperation. NII also focuses on new businesses in growth areas such as the Green Environmentally Friendly, Clean New Energy, Energy Saving and Fine Life Science business domains.”
“Due to the increasing rate of technological innovation and globalization, product life-spans are getting shorter and manufacturers are required to diversify and speed up research and development projects. In order to make efficient use of the limited managerial resources under such circumstances, it is important that Nitto build a system to search for and utilize technologies and businesses outside of the Nitto Group,” the company said.