next47' from Siemens
Independent unit planned for start-ups
Siemens is establishing the 'next47' unit on October 1, 2016 to promote disruptive ideas more strongly and advance new technologies more quickly. The Group intends to bundle its commitment to start-ups in this unit. 1 billion euros will be available for this in the first five years.
The name 'next47' alludes to the year the company was founded: "Siemens was itself a start-up in 1847 - founded in a Berlin backyard," says Joe Kaeser, CEO of Siemens. The new unit is to be given the necessary independence, but can still benefit from the advantages of the Group. It will be represented in Berkeley, Shanghai and Munich and will cover all regions of the world from there. In doing so, 'next47' will build on the existing presence of Siemens' start-up activities. The company has been working with start-ups since the late 1990s: Within 20 years, Siemens says it has invested over 800 million euros in around 180 start-ups. The new 'next47' business unit will be open to employees as well as founders, external start-ups and established companies. "next47 creates scope for experimentation and growth - without the organizational restrictions of a corporation," says Chief Technology Officer Siegfried Russwurm.
The first 'next47' project was agreed back in April 2016: Airbus and Siemens are working until 2020 to demonstrate the technical feasibility of hybrid-electric propulsion systems for smaller aircraft through to medium-sized passenger planes. In addition to the electrification of aviation, there will be other fields of innovation, such as artificial intelligence, autonomous machines, decentralized electrification and networked mobility. The new unit will also focus on blockchain applications, which are intended to simplify data transfer in industry or energy trading, for example, and make them more secure.
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