Siemens invests 1 billion euros in start-ups

Sep 25, 2017 | News | 0 comments

Siemens invests 1 billion euros in start-ups

Siemens has announced that it plans to invest one billion euros over five years in new startups to develop artificial intelligence and decentralized electrification products.

The industrial conglomerate, founded in 1847, wants to develop its strengths in automation and electrification in other directions to stay at the forefront of the changes brought about by digitalization.

Siemens added that the first project of the new structure, called “next47”, will be the already announced joint development with Airbus of electric-powered aircraft.

The new incubator will be operational from October 1 and will have offices in Munich, Shanghai and Berkeley, California.

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