|Siemens Invests in U.S. Wireless Startups|
Posted: 27-Feb-2003 [Source: Siemens AG]
[Siemens Mobile Acceleration expands to U.S. wireless market -- European wireless early stage investor opens U.S. office in San Jose.]
Munich -- Siemens Mobile Acceleration, a leading European wireless seed investor, today announced that it has established a presence in the United States. The wholly owned subsidiary of Siemens AG supports start-up companies developing promising mobile voice and data applications, services and technologies. Operating from its new San Jose, California office, the company will offer start-ups early stage capital, in-depth marketing expertise and access to the Siemens Group's global research, sales and distribution networks.
"In the U.S. we want to tap the full potential of addressing innovative companies in the wireless area. As part of the Siemens Information and Communication Mobile Group, we can offer unique services on their way into the markets by opening the Siemens organization, offering the technical expertise, global knowledge and marketing network of a leading telecommunications group. Our approach to supporting innovative companies is really special because not many companies can provide this broad access to newest technologies and in-depth market know-how for incubatees", said Dr. Dietrich Ulmer, CEO and president, Siemens Mobile Acceleration. "Our efforts in Europe and Asia have generated impressive results for our portfolio companies. Siemens roots in the European, specially the German telecommunication business creates a highly valuable background there. Therefore we are confident that as a gateway to these leading markets and technologies we can achieve a high level of interest and success in the U.S."
Siemens Mobile Acceleration will help to establish U.S. start-up companies by providing seed investments along with a full range of benefits and resources. Each start-up will be assigned to an Investment Director with in-depth experience in the company's particular field to offer advice during each phase of a company's maturation. Portfolio companies will benefit from Siemens' vast sales and marketing networks with ties to more than 160 countries, facilitating their entry into global markets. Companies funded by Siemens Mobile Acceleration will be offered valuable co-marketing opportunities, including joint participation with Siemens at industry events, integration in product and service packages and customer referrals.
"Siemens' support is helping us to accelerate our product development and stay ahead of the competition," said Volker Jantzen, CEO of SVOX, a maker of text-to-speech software in Switzerland. "Siemens mobile will integrate our technology in a brand new cordless phone and in some business areas like automotive the doors to potential customers opened only through Siemens help. Overall, we benefit immensely from services that most young companies don't receive, such as coaching from experienced wireless and investment experts and access to sales channels in local markets. Our partnership with Siemens helped us to achieve several milestones that otherwise would have taken far longer or might not have been accomplished at all."
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