28 Jun '16, 10am

Siemens founds #next47 as separate unit for #startups. €1 billion to be invested over 5 yrs. https://t.co/wEiUfm7V5B

Siemens founds #next47 as separate unit for #startups. €1 billion to be invested over 5 yrs. https://t.co/wEiUfm7V5B

Effective October 1, 2016, Siemens will set up a separate unit to foster disruptive ideas more vigorously and to accelerate the development of new technologies. The unit's name, "next47," plays on the fact that Siemens was founded in 1847. At next47, the company will pool its existing startup activities. The new unit will have funding of €1 billion for the first five years. Siegfried Russwurm, Siemens Chief Technology Officer, will head the new unit on an acting basis. The new unit will be given the necessary independence but can nevertheless leverage the advantages offered by Siemens. It will have offices in Berkeley, Shanghai and Munich and cover all regions of the world from those locations. next47 will build on Siemens' existing startup activities. The new unit will be open to employees as well as to founders, external startups and established companies if they want to...

Full article: http://www.siemens.com/press/en/feature/2016/corporate/20...

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