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Siemens Sets Up Wireless Incubator With 180 Million

Siemens Information and Communication Mobile (IC Mobile) today announced the foundation of an incubator with the specific aim of fostering start–up enterprises who are keen to transform their new business ideas into marketable products and services as quickly as possible. The focus will fall on mobile applications, in other words software solutions and services for the emerging telecommunications standards GPRS and UMTS, and will involve an annual investment of EUR 60 million in each of the next three years. Initially, the incubator will set up in Munich and Stockholm, with a third location planned for Asia or the USA.

The incubator will provide a unique infrastructure for promoting start–ups; this will range from seed capital, office premises, ongoing consulting on strategic and legal issues, support for staff recruitment, all the way through to marketing, advertising and PR for the start–ups and their products. Further support will be provided by the global Siemens sales organization and research network. Plans envisage 15 new “incubatees” annually at each of the three locations, making a total of 45 every year.

“At the moment, there is much talk of making sure that the technology for the next generation of mobile phones is available in good time. Important as this is, the actual success of UMTS will depend on applications designed to secure the practicality and profitability of their utilization. We hope to speed up this development activity through the incubator,” explains Rudi Lamprecht, CEO of Siemens IC Mobile and Member of the Managing Board at Siemens AG.

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