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Siemens to Launch its Startup Accelerator ‘Next47’ in Bengaluru, India

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Siemens to Launch its Startup Accelerator 'Next47' in Bengaluru, India 8

German multinational giant firm, Siemens has opened an office for its separate startup unit ‘Next47’, a global Venture Capital & Private Equity firm backed by Siemens, in Bengaluru on Monday, to help connect its customers to start-up innovation in India, reported Business Today.

Next47 partners with industry-changing start-ups to multiply their value through the power of Siemens and thereby focusing on innovation and start-ups to enhance digitalisation offerings.

This year, Next47 has launched an internal accelerator program which the firm runs in partnership with Alchemist, a a San Francisco-headquartered, venture-backed business incubator focused on accelerating startups whose revenue comes from enterprises. Th accelerator is platform for Siemens intrapreneurs to develop their business ideas with the support of an unrivaled network of coaches and mentors in order to build the next generation of innovation for Siemens.

Next47 also has a partnership with seed accelerator Techstars to develop the next-generation of Siemens entrepreneurs with the later’s 3-month accelerator program.

According to Next47 website, the firm has great connections with a global ecosystem of customers and partners and abundant financial resources with its $1.2 billion global venture fund.

Next47 works with startups who are using deep technologies such as artificial intelligence, augmented and virtual reality, cybersecurity, autonomous driving, Internet of Things (IoT), robotics, and advanced manufacturing, to solve industry’s most difficult and fundamental challenges.

Siemens to Launch its Startup Accelerator 'Next47' in Bengaluru, India 9

Siegfried Russwurm, Member of the Managing Board and Chief Technology Officer of Siemens AG

Dr Roland Busch, Chief Operating Officer, Chief Technology Officer and Member of the Managing Board, Siemens AG, said in a media statement, “About 4,000 Internet of Things (IoT) and software experts, along with the work done at the Siemens MindSphere Application Centers based in Pune, Noida and Gurgaon, will collaborate with teams around the world to conceptualise, develop, test and bring-to-market applications in the areas of Smart Urban Infrastructure, Digital Enterprise, Connected Mobility, Future of Energy and Artificial Intelligence.”

“There is continuity of Government in India and sectors like infrastructure, mobility, grid connectivity, modernisation of power plants, railway, renewables etc is going to get a good revival and these are sectors that will show good growth in the coming years,” said Roland Busch.

He said Siemens had committed over a billion euro investment in India in 2015 and those investments are being done in the country.

Speaking on the sidelines of Siemens Innovation Day in Mumbai on Monday, Sunil Mathur, Managing Director and Chief Executive Officer of Siemens Limited, said, “India needs to harness digitalisation to optimise manufacturing growth and we are seeing acceleration in interest and demand from customers for our digitalisation portfolio. IoT enabled applications are the need of the hour and will focus on contributing to customers’ efforts to maximise the potential with digitalisation through data insights.”

Next47 has its presence in Beijing, Boston, Israel, London, Munich, Palo Alto, Paris, Stockholm and now Bengaluru, India.

Siemens to Launch its Startup Accelerator 'Next47' in Bengaluru, India 10

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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