Drew Angerer/Getty ImagesEarly this month a handful of high-level engineers from General Motors’ R&D division joined Silicon Valley venture funds in a packed Mountain View auditorium to hear dozens of two-minute pitches from tiny tech startups eager for early-stage funding. The automotive giant is backing 500 Startups’ Demo Days in a partnership with the tech incubator forged late last year. GM, like every other major automaker, already has an advanced tech unit in Silicon Valley, where its scientists and technology specialists in Palo Alto beat the bushes for new ideas and companies. It formed that relationship prior to reports of sexual harassment by 500 co-founder and chief Dave McClure, who resigned in June. GM won’t say how much it’s spending to back the 500 pitch sessions, though the amount is likely modest for a company of its size.

Source: Forbes August 07, 2017 12:22 UTC