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  Siemens Mobile Acceleration starts in the UK - fostering wireless start-up companies with seed capital and worldwide sales support
  Siemens today announced the launch of Siemens Mobile Acceleration in the UK. The unit will provide seedcorn funding for wireless start-ups of up to 1,5 million euro per start-up. It will also provide business coaching from senior management consultants and access to Siemens' world-wide research and development facilities and sales channels.  

Siemens Mobile Acceleration is aiming to foster wireless start-up companies devoted to mobile technology, mobile applications and mobile services for GSM/GPRS and UMTS/3G mobile telephony. Investments will be made in companies at an early stage before market entry.

The plan is to make at least 10 investments in the current fiscal year with an initial financial funding of approximately 1.5 million euro or 1 million each. In its first year of operations Siemens Mobile Acceleration will focus on the UK, Sweden, Germany, Italy, France, Israel and China.

The total sum of the investment fund is 14 million for the first 12 months. Investment decisions are based upon a business idea that shows potential to successfully tap into the wireless technology, applications and services market that will open up with the advent of next generation mobile telephony like UMTS.

Dr. Dietrich Ulmer, CEO of Siemens Mobile Acceleration said: "Mobile business is still brimming with new opportunities and potential. Our job is now to spot talent early. "Siemens Mobile Acceleration is constantly on the lookout for young innovative start-ups operating in the mobile sector. A good idea is often not enough - what's needed is continuous coaching, contacts and capital. Our aim is to provide young and hungry companies all of these."

Ian Moyes, Managing Director of Siemens Information and Communication Mobile UK, added: "The market here is very favourable: the UK is leading Europe in terms of investments in start-up companies but at the same is lagging behind when it comes to the number of investments made into start-up companies devoted to wireless technology. This gap creates a huge potential for Siemens Mobile Acceleration."

Siemens Mobile Acceleration GmbH is a wholly owned subsidiary of the Siemens Information and Communications Mobile Group. Founded in Munich, Germany, in 2001, Siemens Mobile Acceleration has further offices in Stockholm, Paris, Milan, as well as in Beijing and Shanghai. More information: www.siemens.com/mobile-acceleration

The Siemens Information and Communication Mobile Group (IC Mobile) offers the complete range of mobile solutions including mobile devices, infrastructure and applications. Devices include mobile phones, wireless modules, mobile organizers and cordless phones as well as products for wireless home networks. The infrastructure portfolio includes GSM, GPRS and 3G mobile network technologies from base stations and switching systems to intelligent networks, e.g. for prepaid services. Mobile Applications cover end-to-end solutions for Messaging, Location Based Services or Mobile Payment. For the fiscal year 2001 (September 30), IC Mobile recorded sales of EUR 11.3 billion and employed 30,730 people worldwide. You can access further information about Siemens IC Mobile on the Internet at www.siemens-mobile.com

For further information:
Simon Robinson
Phone: +44 1344 850 301
Mobile: + 44 7808 825 882

  Press Release


2002 Siemens Mobile Acceleration