BEIJING—Siemens Mobile Acceleration is setting up a representative office in Beijing and one in Shanghai to help wireless start-ups with capital investment, coaching and access to Siemens’ worldwide research and development (R&D) facilities.
The company plans to invest US$1.3 million each in 20 start-ups per year to acquire minority stakes.
Siemens Mobile Acceleration is a wholly owned subsidiary of the Siemens Information and Communications Mobile Group and was set up in Munich, Germany, in 2001. The company also has offices in Stockholm, Sweden, and Paris.
In the fiscal year 2001 to September 30, the Siemens Information and Communications Mobile Group realized sales of US$9.76 billion and employed 30,730 people worldwide.
