French energy management and automation solutions provider Schneider Electric has inaugurated its own dedicated venture capital (VC) funding unit, Schneider Electric Ventures.

Schneider Electric said the dedicated VC funding unit will boost its innovation ecosystem and nurture the future’s transformational and disruptive innovations.

The unit will have up to 500 million euros ($565 million) of cash to inject in incubation projects, partnerships with entrepreneurs, and specialized funds, and would welcome ideas from innovators and entrepreneurs eager to turn their concepts into reality.

The company said that Schneider Electric Ventures is its way of helping innovators turn their vision into reality. It demonstrates the company’s commitment to innovation, helping innovators and entrepreneurs who share Schneider’s values develop their ideas and gain access to markets.