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Siemens to invest $100m in communication start-ups over next five years

German-based electronics giant Siemens plans to invest $100m over the next five years in start-ups in the communications sector across Europe, in Israel, in North America and in Asia.

The company is to extend the business scope of Siemens Mobile Acceleration, an investor in early-stage wireless companies, from wireless technologies to include the entire communications sector. To reflect the new focus SMAC has renamed itself Siemens Acceleration in Communications. The extended scope of Siemens Acceleration follows the recent merger of the Siemens fixed and mobile communications units into Siemens Communications.

Siemens says that by working closely with the operating units of Siemens Communications, the start-ups receive access to the resources of the group such as sales channels, R&D facilities and an international presence.

Dr Dietrich Ulmer, CEO of Siemens Acceleration in Communications, said, 'We look forward to serving Siemens Communications by fostering innovative start-ups around the world. For the broader communications sector, we expect to find many new opportunities particularly in the United States and Israel.'

Anton H Schaaf, CTO of Siemens Communications, added 'Since we are working in an extremely fast-paced industry, we rely on innovation from the outside in addition to our internal R&D and innovation through our business units.'

Siemens Technology Accelerator, Siemens Technology-To-Business Center and Siemens Venture Capital also contribute to the innovation strategy of Siemens.

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