Xerox Corporation reported that in 2021 it fulfilled its commitment to monetize innovation by commercializing offerings in 3D printing and IoT sensors.
Geographically, the company‘s presence spans 160 countries and enables it to offer its technology and solutions to customers of all sizes, regardless of complexity or the number of customer locations.
For 3D printing, Xerox began to market and sell ElemX printers.
For industrial IoT sensors and services, it has deployed its sensor technology on bridges in Victoria, Australia, and has signed orders to significantly expand the number of bridges with its sensor technology by 2022.
The company is also in talks with select European countries and several US states to implement pilots in early 2022.
In order to further monetize (turn something into money) its innovation and develop disruptive offerings, PARC-developed technologies in Artificial Intelligence and Augmented Reality are being integrated into CareAR’s product roadmaps and other parts of its portfolio.
The company added equity partners to accelerate the development and market penetration of certain commercial offerings, including: CareAR, with ServiceNow’s $10 million equity investment; and its IoT bridge sensor technology, through the formation of Eloque.
In both cases, your investment partners have specific domain expertise that can drive further development and adoption of your commercialized innovations.
The company will seek to structure more such investments in its portfolio of innovations as part of the go-to-market strategy for each.
In 2021, Xerox established a $250 million corporate venture capital fund to invest in startups and early- and mid-stage growth companies aligned with the company’s innovation focus areas and specific adjacencies.
The corporate venture capital fund further enhances the company’s existing innovation ecosystem and drives growth and financial returns through investments, business partnerships and co-development of new technologies.
Xerox Ventures made investments totaling approximately $8 million in 2021 and plans to implement the remainder of its planned investment of $250 million over the next one to five years.
The company currently expects 2022 revenue to grow to $7.1 billion in real currency (and remain flat at $7 billion in constant currency).
It expects revenue growth in 2022 to be weighted in the second half of 2022, as the supply chain is likely to remain challenged through the first half of the year.