How VMware funds innovation like a venture capitalist

JuliaAustin2Venture capital funding helps spawn Silicon Valley tech companies like VMware, a publicly-traded software company focused on virtualization and cloud-based services. So what could venture capital do internally — once a company is 15 years old and VMware’s size (roughly 13,500 employees)?

VMware vice president of innovation Julia Austin told me recently that the hope is that internal VC will foster new ideas generated by employees that may not  fit neatly into an existing product line.

As Austin describes it, her job at VMware’s Cambridge office is to “incubate, fund, and occasionally kill new ideas. She also oversees collaborations with East Coast academic institutions like MIT.

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