Siemens Announces Bengaluru Office of Venture Firm Next47
With Eye on Technology Startups Siemens Announces Bengaluru Office of Venture Firm Next47.
In a welcome development for the Indian technology startups, Siemens has announced the opening of the India office for Next47, an independent global venture firm that connects Siemens customers to startup innovation from around the world.
Next47’s presence in India will be focused on bringing startup innovation to Siemens customers.
The company also reiterated its commitment to accelerate efforts to develop and bring to market innovative solutions that create sustainable value for businesses and societies.
Speaking at Siemens Innovation Day 2019 in Mumbai, Dr. Roland Busch, Chief Operating Officer, Chief Technology Officer and Member of the Managing Board, Siemens AG, said,
“India is a key focus market and plays an important role in our global digitalisation strategy. Research and software development in India coupled with the sharpened focus on start-up innovations through Next47 will actively drive the implementation of cutting-edge technologies.”
India has the third largest startup ecosystem globally. In 2018, the country witnessed the launch of 3,800 new startups. The firms received $11 billion in funding through 743 deals during the same period.
Bengaluru, Ne w Delhi and Mumbai are ranked as the top three cities of the Indian startup ecosystem.