New York, NY -- (SBWIRE) -- 10/05/2011 -- On Tuesday, venture capitalists and future business leaders will have the opportunity to mingle during a special Golden Networking Happy Hour event at San Rocco (39 West 24th St., New York, NY, 10010). This will be a unique opportunity to connect with the visionaries, investors, and advisors of the next Facebook, Google, and Groupon.

As reported in on Bloomberg.com, Nike Inc., the world’s biggest sneaker company, is taking a page from Silicon Valley’s playbook in an effort to cut production costs and foster a new generation of green-technology businesses.

The company is setting up a venture-capital offshoot called the Sustainable Business & Innovation Lab to back startups focused on alternative energies and more efficient approaches to manufacturing. The lab also will seek out companies that promote healthy lifestyles, according to a description on Nike’s site.

Nike is counting on innovation to help it cope with the economic slump and supply constraints.