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Siemens Mobile Acceleration starts in the UK
- fostering wireless start-up companies with seed capital and worldwide
sales support
Siemens today announced the launch of Siemens Mobile
Acceleration in the UK. The unit will provide seedcorn
funding for wireless start-ups of up to 1,5 million euro per
start-up. It will also provide business coaching from senior
management consultants and access to Siemens' world-wide
research and development facilities and sales channels.
Siemens Mobile Acceleration is aiming to foster wireless
start-up companies devoted to mobile technology, mobile
applications and mobile services for GSM/GPRS and UMTS/3G
mobile telephony. Investments will be made in companies at
an early stage before market entry.
The plan is to make at least 10 investments in the current
fiscal year with an initial financial funding of
approximately 1.5 million euro or £1 million each. In its
first year of operations Siemens Mobile Acceleration will
focus on the UK, Sweden, Germany, Italy, France, Israel and
China.
The total sum of the investment fund is £14 million for the
first 12 months. Investment decisions are based upon a
business idea that shows potential to successfully tap into
the wireless technology, applications and services market
that will open up with the advent of next generation mobile
telephony like UMTS.
Dr. Dietrich Ulmer, CEO of Siemens Mobile Acceleration said:
"Mobile business is still brimming with new opportunities
and potential. Our job is now to spot talent early. "Siemens
Mobile Acceleration is constantly on the lookout for young
innovative start-ups operating in the mobile sector. A good
idea is often not enough - what's needed is continuous
coaching, contacts and capital. Our aim is to provide young
and hungry companies all of these."
Ian Moyes, Managing Director of Siemens Information and
Communication Mobile UK, added: "The market here is very
favourable: the UK is leading Europe in terms of investments
in start-up companies but at the same is lagging behind when
it comes to the number of investments made into start-up
companies devoted to wireless technology. This gap creates a
huge potential for Siemens Mobile Acceleration."
Siemens Mobile Acceleration GmbH is a wholly owned
subsidiary of the Siemens Information and Communications
Mobile Group. Founded in Munich, Germany, in 2001, Siemens
Mobile Acceleration has further offices in Stockholm, Paris,
Milan, as well as in Beijing and Shanghai. More information:
www.siemens.com/mobile-acceleration
The Siemens Information and Communication Mobile Group (IC
Mobile) offers the complete range of mobile solutions
including mobile devices, infrastructure and applications.
Devices include mobile phones, wireless modules, mobile
organizers and cordless phones as well as products for
wireless home networks. The infrastructure portfolio
includes GSM, GPRS and 3G mobile network technologies from
base stations and switching systems to intelligent networks,
e.g. for prepaid services. Mobile Applications cover
end-to-end solutions for Messaging, Location Based Services
or Mobile Payment. For the fiscal year 2001 (September 30),
IC Mobile recorded sales of EUR 11.3 billion and employed
30,730 people worldwide. You can access further information
about Siemens IC Mobile on the Internet at
http://www.siemens-mobile.com
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