Palm Creates Ventures Group to Spur Products

Palm Inc. this week said that it will provide $50 million to a new venture organization that will invest in companies that support and enhance Palm's handheld technology. The organization, Palm Ventures, will invest in opportunities that accelerate the company's growth, Palm officials said in a statement. Companies that receive funds from the venture will be able to work with Palm on new technology initiatives. Palm Ventures will be aimed at helping licensees, OEM customers, developers, and other vendors that have registered to support the Palm OS platform. Palm did not indicate when it will begin to fund new initiatives that may support Palm OS or its handheld products.

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