Nike Inc. (NKE), the world’s biggest sneaker company, is taking a page from Silicon Valley’s playbook in an effort to cut production costs and foster a new generation of green-technology businesses.
The company is setting up a venture-capital offshoot called the Sustainable Business & Innovation Lab to back startups focused on alternative energies and more efficient approaches to manufacturing. The lab also will seek out companies that promote healthy lifestyles, according to a description on Nike’s site.
To read the full, original article click on this link: Nike Betting on Venture Capital in Effort to Step Up Innovation - Bloomberg
Author: Olga Kharif and Matt Townsend
