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Role of accelerators, incubators
and venture capital at Siemens
Siemens AG (NYSE: SI), headquartered in Munich, is a leading global
electronics and engineering company. It employs more than 400,000
people in 192 countries and reported worldwide sales of Euro 72,448
billion in fiscal 2007 (October 1, 2006 - September 30, 2007). For
more than 155 years, the Siemens name has been synonymous with cutting-edge
technologies and continuous growth in profitability. Our innovations
- generated in our own laboratories and in cooperation with customers,
business partners and universities - are our greatest strength. In
fact, Siemens' pursuit to build and improve the global infrastructure
is relentless. That is why Siemens employs more than 32,000 people
worldwide to work in Research and Development and spent Euro 3,2 billion
on R&D in 2007.
In 2007, Siemens researchers and developers registered more than 8,200
inventions - about 36 every working day. And we have filed patent
applications for two-thirds of these inventions, making Siemens one
of the world's most innovative companies. As in years past, Siemens
is the leader in German patent statistics. In Europe the company holds
second place, and it is also in the top ten in the U.S. Worldwide,
Siemens holds more than 50,000 patents. A proof that Siemens is a
Global Network of Innovation and one of the world's most innovative
companies in the field of electronics and electrical engineering.
In addition to internal R&D, Siemens promotes technological exploration
and innovation by supporting start-up companies through Siemens Technology
Accelerator (STA), Siemens Technology-To-Business Center (TTB) and
Siemens Venture Capital (SVC). These groups, while each having their
own specific mission and investment approach, provide start-ups with
capital and know-how and access to the global resources of Siemens.
Typically, their activities are defined according to different financing
stages and industry focus. Generally speaking, incubators and accelerators
support firms during the seed phase while Siemens Venture Capital
makes investments during subsequent financing rounds.
The first group includes Siemens Technology Accelerator (STA), Munich, and Siemens Technology-To-Business Center (TTB) in Berkeley, California, both of which are assigned to Siemens Corporate Technology. STA focuses on the external commercialization of technologies if Siemens' business units do not take over commercial ownership. This is mainly pursued through spin-off, sale or licensing. STA accompanies start-ups with professional advice and financing to help them get established. TTB specializes in nurturing radical innovations in the core business areas of Automation and Drives, Corporate Technology, Information and Communications, and Siemens VDO Automotive. Primarily originating from U.S. academic research, these innovative ideas receive the initial financing, technical and business development to help them reach maturity for market entry.
Siemens Venture Capital (SVC) is the corporate venture
organization for the entire Siemens enterprise. To date, SVC has invested
more than 700 million euros in more than 100 start-ups and 40 venture
capital funds, particularly in the U.S., Europe and Israel, and is
one of the most active corporate venture capital investors worldwide.
SVC focuses on young, innovative companies that promise above-average
returns and are engaged in Siemens' strategic technology areas.
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