Technology Industry
Industry: Email Alert RSS FeedSiemens to Spend 180 Million Euros on Mobile Applications 'Incubator'.(Brief Article)
CircuiTree, April, 2001
Munich, Germany--Siemens AG said it will spend 180 million euros ($167 million) to help start-up companies develop products for faster wireless Internet services. Siemens will establish so-called incubators in Munich and Stockholm this year by providing capital, office premises, legal and marketing support to young companies developing products for faster wireless Internet services.
A third location also will be set up in either the U.S. or Asia. Siemens is planning to spend 60 million euros annually over the next three years on the project. It hopes to lure 45 start-up companies to the three locations per year.
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