The other members of the ABB Technology Ventures team remain, with Grant Allen covering the US and Americas, Kurt Kaltenegger Europe and Africa, and Arvind Vasu Asia.

Rollable display technology developer Royole has received $80m in new funding, adding to a $172m IDG Capital-backed series C round in August 2015.

Prior to heading Next47, he developed and built up the Hewlett Packard Pathfinder organisation, bringing together innovation strategy, venture investments, acquisitions and partnerships.

Elanco joined existing backers including Bayer and Syngenta to add $8.5m to the accelerator's capital reserves, boosting them to $20m.

Markus Solibieda has left private equity firm Mandarin Capital Partners to become managing director at BASF Venture Capital.

Pennsylvania University has opened its new hub that will support scientists and students to develop their research and ideas and collaborate with the private sector.

The technology development group has established a $250m second corporate venturing fund, less than six months after its $50m first fund.

Massachusetts Institute of Technology has unveiled an incubator that will provide funding, space and expertise to boost commercialisation activities on and off-campus.

Cisco, Gambero Rosso, Monini and Barilla are among the supporters of a foodtech accelerator that will provide about $16,000 in funding each to 10 startups.

University of California, Riverside is set to open an incubator today dubbed Epic as it gears up to raise a VC fund to provide seed capital.