Siemens venture unit, next47, and Techstars to back IoT and Mobility entrepreneurs

Category:

Friday, January 27, 2017 12:00 pm EST

Dateline:

Munich

next47, the new venture unit from Siemens, is joining forces with the Techstars accelerator to help bring to life Siemens start-up ideas and innovations.

next47 was established by Siemens in 2016 to embrace innovation from the global start-up ecosystem and help build future Siemens businesses. To create value for both Siemens and its start-up community, next47 invests capital in category creating start-ups, creates next generation businesses, and acts as a catalyst between the start-ups and Siemens customers and businesses.

Through the partnership with Techstars, next47 will nominate and embed Siemens teams in Techstars’ upcoming start-up programs: the “Internet of Things” in New York City and the “Mobility” program in Detroit. Successful teams will spend three months working with Techstars’ mentors to refine their strategies, explore partnerships and pilots, attract customers, grow revenues and get ready to raise funding at the end of the program.

“Collaborating with Techstars is an important and exciting step for next47 and Siemens” says Lak Ananth, Managing Partner of next47. “We are excited to provide Siemens employees access to the proven Techstars platform globally.”

“We proudly welcome next47 to the Techstars family. Collaborating with next47 and Siemens will create exciting new options within our unique ecosystem,” adds Kevin Tapply, Vice President of Business Development at Techstars.

Contact for Journalists

Magnus Wied
Phone: +49 172 3627655; E-mail: magnus.wied.ext@siemens.com

Brie Sachse (U.S. Contact)
Phone: 202 412 9598; E-mail: brie.sachse@siemens.com

About next47
next47, launched in October 2016, seeks to partner with innovative minds and turn big ideas into viable businesses. The dynamic next47 team acts as a venture capitalist, advisor and catalyst into Siemens for external start-ups and creative entrepreneurs, including Siemens employees. Its global presence in Silicon Valley, Germany, China and Israel positions next47 close to the major innovation ecosystems to identify, shape and grow future businesses for Siemens. For more information see www.next47.com

About Siemens
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2016, which ended on September 30, 2016, Siemens generated revenue of €79.6 billion and net income of €5.6 billion. At the end of September 2016, the company had around 351,000 employees worldwide.

About Techstars
Techstars is the global ecosystem that helps entrepreneurs build great businesses and bring new technologies to market. Techstars programs are run and powered by the support of corporate and other strategic partners and cover many of the relevant technology fields of today. The Techstars program on IoT is based in New York City and headed by Jenny Fielding, whereas the Managing Director of the Mobility program is Ted Serbinski. For more information about Techstars see www.Techstars.com