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Siemens corporate venturing unit opens office in US28/02/2003. Source: AltAssets. 
 The corporate venturing unit of German technology giant Siemens has opened an office in San Jose, California to take advantage of US wireless opportunities.
Dr Dietrich Ulmer, CEO of Siemens Mobile Acceleration, said the new US operation would complement the firm's existing activities in Europe and Asia.
‘In the US we want to tap the full potential of addressing innovative companies in the wireless area…Our efforts in Europe and Asia have generated impressive results for our portfolio companies…Therefore we are confident that as a gateway to these leading markets and technologies we can achieve a high level of interest and success in the US,' he said.
The unit will provide early-stage and seed capital for start-ups in the wireless arena as well as lending them the group's marketing expertise and access to its global research, sales and distribution networks.
The firm said it was a good time to be setting up a wireless venturing unit in the US, when valuations had fallen sharply and a lot of other investors were distracted by untidy legacy portfolios.
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