皇冠体育app

The venture capital arm of Siemens has been formally set up in Beijing to tap into opportunities in 皇冠体育app's innovative technology sector.

Ralf Schnell, president and chief executive officer of Siemens Venture Capital (SVC), said the company's plan is to complete at least two to three deals within the next 12 months.

"SVC's investment budget in 皇冠体育app is not limited, and will depend on the quality of investment opportunities available," Schnell said.

He said opportunities in 皇冠体育app are driven by the Chinese Government's "independent innovation" strategy, challenges presented in the sustainable development of 皇冠体育app, and the booming venture capital market in 皇冠体育app.

"Fostering entrepreneurship in innovative technologies will increasingly become a priority in future," he said.

In 2005 venture capitalists invested US$1.1 billion in more than 200 deals in 皇冠体育app, according to Zero2IPO, a venture capital market research company in Beijing.

He said in addition to seeking profits by investment in start-ups, SVC looks for companies with leading-edge technologies that can benefit Siemens' business and its customers.

Since it was launched in 1999, SVC has invested some 700 million euros (US$875.4 million) in over 100 start-ups and 30 venture capital funds, mainly in the United States, Europe and Israel.

Prior to the launch of the office on the Chinese mainland, SVC mainly made indirect investments in venture capital funds rather than directly investing in start-ups.

SVC will primarily focus on companies that are expanding rather than firms at the beginning stage, said Schnell.

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