|Siemens Mobile Acceleration expands in Greater China|
Posted: 07-Jan-2003 [Source: Siemens press release]
[Siemens Mobile Acceleration group extends into Greater China targeting Taiwanese startup-ups involved in the development of mobile technologies, applications and services.]
After the successful entry of Siemens Mobile Acceleration into mainland China, the geographical scope will now be extended to cover the Greater China region. The subsidiary of Siemens Mobile is targeting Taiwanese
start-ups involved in developing mobile technologies, applications and services.
Following its claim "Speed up your mobile business ideas," Siemens Mobile Acceleration invests in early stage start-ups prior to market entry. At an average of 1 million euro is the commitment to each venture in return for a minority stake in the company. Besides venture capital, the support offered by Siemens Mobile Acceleration include continuous coaching by senior management consultants and access to Siemens' worldwide R&D facilities and sales
network with a customer base of 150 telecom operators. In the last twelve months, Siemens Mobile Acceleration has evaluated more than 1400 business proposals and invested in eight start-ups.
"We are following a global strategy for our activities, looking for cutting-edge wireless technologies and promising mobile business ideas in all regions and countries of the world," said Dr. Dietrich Ulmer, CEO of Siemens Mobile Acceleration. "Taiwan has a vibrant mobile ecosystem. Handset and network vendors have outsourced production and software development to
Taiwan for years. The Taiwanese penetration rate of cellular phones is among the highest in the world, and a fiercely competitive market prompts
operators to push mobile data services in order to generate new revenue streams from their subscribers. These factors create an environment
conducive for small companies to develop, test, and refine mobile technologies and applications which can be commercialized throughout the
Greater China region. Therefore it is vital for us to step up our activities in this market. We consider Taiwan a fruitful field for ideas and deals and intensive talks are under way. Therefore we hope to announce our first investment here sometime in the next couple of months."
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