Two companies are fusing their ideas together to help further ideas for profit in the wireless Internet space. IdeaEdge Ventures and Startupfactory have entered into an international alliance to launch mobile Internet businesses around the world.
IdeaEdge Ventures helps develop global businesses with mission-critical products and services that enable the deployment of scalable mobile Internet applications, while Startupfactory is a venture-capital company partial to enabling technologies and applications for mobile communications.
Describing Startupfactory as quickly becoming one of Europe’s leading venture firms funding and developing mobile Internet businesses, ideaEdge’s Chairman and managing partner Dan Pittard said, “This partnership expands ideaEdge’s presence into the Nordic geography, one of Europe’s fastest-growing wireless technology markets.”
The companies plan to pool their business and technology resources as well as their market intelligence research to deploy mobile Internet technologies on a global scale.
Both companies expect the partnership to provide them with a source of wireless and telecommunications knowledge and industry expertise to enable them to identify, potentially co-invest and develop new wireless technologies for future ventures.
Startupfactory believes the alliance will give it stronger access to San Diego, which it regards as the wireless capital of the United States. Both companies also will share advisory boards.
“ideaEdge, with its global all-star team of technology and business leaders, is an ideal partner for Startupfactory because both companies are focused on building world-class technology companies,” said Staffan Helgesson, Startupfactory’s chief executive officer.
Startupfactory, which has operations in the Netherlands, Sweden and Finland, was founded by a group of technology executives, including Sven-Christer Nilsson, former chief executive officer of L.M. Ericsson, and Rolf Skoglund, former vice-president of Microsoft Corp. Its investors include Sweden’s largest investment company, Investor AB; an Internet investor, Softbank Europe Ventures; and a Nordic independent investment bank, Carnegie.
The company says it has launched several companies in the mobile Internet space, which includes Fastrax, Xelerated Packet Devices, MatchEm, Mobicus, Picofun, Gou Lite and Melody Interactive Solutions.
IdeaEdge had formed Satyam ideaEdge Technologies, a joint venture with India-based Satyam Computer Services to provide product and professional services to emerging service providers in the mobile Internet industry.
IdeaEdge also announced the launch of M7 Networks, an infrastructure service company that blends technology platform and managed services to enable enterprises, ASPs and network operators to deliver mobile applications.
Its investors include Enterprise Partners, Sienna Holdings, Investors AB, Qualcomm Inc. and Silicon Valley Bancshares.
“By sharing our resources and extensive marketing research across international borders, each company will support the other in developing essential wireless enabling technologies,” said Helgesson.
