PARC Opens Doors to Entrepreneurs.Startup@PARC (Palo Alto Research Center Incorporated, Palo Alto, CA, www.parc.com) Founded in 1970, PARC is a Xerox subsidiary involved in high-tech research and development. Although Xerox's headquarters are in Stamford, Connecticut, and manufacturing and marketing are in Rochester, New York, PARC is Program to Help Launch Businesses by Offering Technical and Scientific Expertise to Entrepreneurs and Investors PALO ALTO, Calif. -- PARC (Palo Alto Research Center Palo Alto Research Center - XEROX PARC Inc., a Xerox Company) today announced "Startup@PARC," a novel initiative to join forces with entrepreneurs and investors to bring transformative technologies to the marketplace. Building upon PARC's success in strategic partnerships with new ventures, the program leverages the fabled research center's approach to open innovation, a business model established in 2002 when PARC was incorporated as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Xerox Corporation. "PARC has been and continues to be critical to Xerox's overall research efforts," said Anne Mulcahy, chairman and chief executive officer, Xerox Corporation. "In operating PARC as a stand-alone subsidiary, we benefit from what PARC brings to our core business while also extending PARC's talented team to help other companies and select entrepreneurs tap into PARC's treasure trove TREASURE TROVE. Found treasure. 2. This name is given to such money or coin, gold, silver, plate, or bullion, which having been hidden or concealed in the earth or other private place, so long that its owner is unknown, has been discovered by accident. of resources for innovation and faster market development. Startup@PARC makes this approach a reality." The Startup@PARC program goes beyond the boundaries of traditional entrepreneur-in-residence programs, which typically import industry experts to develop specific, pre-defined commercial opportunities. Instead, Startup@PARC creates a customized partnership for each new venture participating in the program, which could include technical expertise and intellectual property, facilities resources, and laboratory space. In exchange, PARC will receive cash, royalties, or equity compensation, or a combination. "Through Startup@PARC, we are applying the market experience and strategic business lessons learned from many successful efforts with new ventures. We also offer the right teams an unprecedented opportunity to access our extensive portfolio of intellectual property and deep scientific competencies," said Mark Bernstein, president and center director of PARC. "We are extremely excited about this approach to working with talented entrepreneurs and investors to build the leading companies of the future." One of PARC's recent venture successes is in the clean technology area, involving a strategic partnership with award-winning, solar energy company SolFocus, Inc., to develop the company's second-generation concentrator photovoltaic technology. SolFocus will enable solar energy to be cost-competitive with conventional energy sources. In addition to technology collaboration, PARC provided operational resources and services for SolFocus. "Our partnership with PARC has been extremely valuable as we've moved SolFocus from being a two-person R&D effort to a 50-person commercial company," explained Gary D. Conley, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SolFocus. "The collaborative spirit at PARC combined with world-class resources has the potential to move an entrepreneurial concept to fruition much faster than would be possible otherwise. With the support of PARC, in just 18 months SolFocus has launched its first product, is developing the next-generation technology, has installed multiple test sites, and is breaking barriers in CPV CPV canine parvovirus. technology." In the Internet domain, "We consider PARC to be our advanced research group," said Barney Pell, CEO of Powerset, Inc., the natural language search company that has a licensing and collaboration agreement with PARC to develop and commercialize consumer search technology. "We sought out PARC as our partner because of its 30-year experience of innovation in natural language processing Natural language processing Computer analysis and generation of natural language text. The goal is to enable natural languages, such as English, French, or Japanese, to serve either as the medium through which users interact with computer systems such as . PARC has given us a tremendous head start over our competition." To learn more and inquire about potential participation in Startup@PARC, please visit www.parc.com/startup. About PARC PARC, a Xerox Corporation company (NYSE NYSE See: New York Stock Exchange :XRX XRX Xerox Corporation (stock symbol) ), collaborates with sponsors and clients to discover breakthrough business and technology concepts that solve real needs, and transform how enterprises deliver value to customers. PARC takes an agile, multidisciplinary approach multidisciplinary approach A term referring to the philosophy of converging multiple specialties and/or technologies to establish a diagnosis or effect a therapy to open innovation, by bringing together physical, computer, biological, and social scientists who have the vision, expertise and instinct to convert groundbreaking scientific findings into industrial-strength prototypes. Founded in 1970 as part of Xerox Research, then incorporated in 2002 as an independent research business, PARC is celebrated for innovations such as laser printing, distributed computing and Ethernet, the graphical user interface graphical user interface (GUI) Computer display format that allows the user to select commands, call up files, start programs, and do other routine tasks by using a mouse to point to pictorial symbols (icons) or lists of menu choices on the screen as opposed to having to (GUI (Graphical User Interface) A graphics-based user interface that incorporates movable windows, icons and a mouse. The ability to resize application windows and change style and size of fonts are the significant advantages of a GUI vs. a character-based interface. ), object-oriented programming, and ubiquitous computing. Learn about PARC at www.parc.com. |
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