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next47 – Siemens startup unit, to receive $1.1 Billion investment

Disruptive ideas would no more be a waste!

Siemens is a leading brand in the engineering sector is making a smart investment. It is not only going to help itself, but will also act as an angel for disruptive ideas who earlier found no opportunity.

So, what are Siemens plans?

  • To foster disruptive ideas more vigorously and accelerate the development of new technologies, Siemens will be setting up a separate unit. It would become effective from October 1, this year.
  • The unit is named as “next 47”, based on the fact that the industrial group of Siemens was founded in 1847. At next47, Siemens will pool its existing startup activities.
  • Interestingly, this new unit would receive a funding of 1 billion euros ($1.1 billion) by Siemens itself over the next five years. This investment is aimed at helping itself develop business in niche areas.
  • Specially,promising streams like Artificial Intelligence (AI) and decentralized electrification seem to be their areas of focus.
  • Other important fields could include autonomous machines, networked mobility and blockchain applications for the secure transfer of data in industry and energy trading, the technology on which cryptocurrencies such as bitcoin are based.

via GIPHY

“next47”- in detail

In its press release, Siemens had mentioned that their “next47” would be led by its Chief Technology Officer (CTO) Siegfried Russwurm on an acting basis. Besides, the new unit would be given the necessary independence, but could nevertheless leverage the advantages offered by Siemens. It was also mentioned that their new unit would have offices in Berkeley, Shanghai and Munich. And, from these locations it would cover all regions of the world.

How will Siemens Benefit?

Till date, Siemens considered areas like automation and electrification as their strength. With the latest investment, the company aims at expanding their present strengths in new directions. This would also strengthen Siemens position in the digitalization phase of the industry.

Who’s going to be funded?

As per reports, the funds will be available to parties having business ideas in fields strategic to Siemens future. Be it, employees, external startups or even well established companies.

As a result, those willing to pursue business ideas favoring Siemen’s interest, here’s a golden opportunity waiting next door!

Takeaways:-

  • Siemens will be setting up a separate unit to encourage disruptive ideas vigorously and accelerate the development of new technologies. The unit, named as “next47” resembles the year of Siemens birth, i.e. 1847.
  • “next47” would be effective from October 1, this year. Also, this new unit would receive $1.1 billion investment from Siemens itself for the first five years.
  • Siemens aim at developing their business in areas like artificial intelligence (AI), decentralized electrification and many more.
  • As per reports, the funds will be available to parties willing to pursue business ideas in fields strategic to Siemens future. Be it, employees, external startups or even well established companies.
  • “next47″would have offices in Berkeley, Shanghai and Munich. From these locations, it would cover all regions of the world.
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