Goodyear wants more than a monetary return from its new venture fund

Akron’s Goodyear Tire & Rubber Co. is hoping for more than a traditional return on investment with its new $100 million venture capital fund, Goodyear Ventures.

In fact, the company considers the investment to be part of its R&D efforts. That’s probably made most apparent by the fact that Goodyear put a former chemical engineer, rather than a financial person, at the helm: Erin Spring, Goodyear’s director of new ventures, will oversee the fund.

Spring has the master’s of business administration you might expect a fund manager to have, but her past job titles at Goodyear include manager of customer-centered innovation and chief engineer of applied physical metrology.

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Story excerpt provided by Crain’s Cleveland Business.

Written by Dan Shingler.

Originally published January 19, 2020.

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