|Swedes take Wireless Know-how to Silicon Valley|
Posted: 27-Dec-1999 [Source: TORNADO-INSIDER]
[Startupfactory.com sets up office in the US, "dedicated to developing wireless ventures."]
By Guy Middleton -- "Startupfactory.com, the Stockholm-based VC and incubation company has set up offices in Silicon Valley, taking money and skills to the US, a move that contrasts with the flow of capital and venture experience that has flooded into Europe from the US over the past year.
"The company, which is dedicated to developing wireless ventures, hopes the oft-vaunted wireless expertise of Scandinavia will give them the edge both when promoting its European ventures in the US and when seeking and developing ventures in the Valley.
"When the Internet goes mobile in a serious way, beginning next year through the deployment of GPRS, Scandinavia will have a head start on the US of at least a year. Startupfactory was founded on this premise, and we are ready to exploit our R&D leadership and time advantage to the fullest", said co-founder and board member Sven-Christer Nilsson.
Nilsson is a former CEO of Ericsson.
"Analysts believe that one in three Europeans will be using mobile Internet by 2004.
"Anders Fernstedt, previously of AT&T's Opportunity Discovery Department, will direct the US subsidiary.
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