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Siemens Venture Capital (SVC), the corporate venture organization for Siemens AG, announces the launch of a unique business plan competition known as the India Innovation Program to reach across to Indian entrepreneurs. The program focuses on promoting innovation and entrepreneurship in diverse sectors covering the widespread business activities of Siemens. SVC is part of the Siemens Financial Services (SFS) Group.
As part of this program, SVC invites business proposals from entrepreneurs and innovators in the areas of energy and environmental care, healthcare, automation and control, industrial and public infrastructures, lighting, automotive, and information technology. In energy and environmental care, the focus is e.g. on solutions related to energy generation and storage, smart grid technologies and energy efficiency improvements. In healthcare, Siemens is looking at business plans focusing on imaging technologies, diagnostics (laboratory point of care), molecular imaging & biomarkers, image guided systems and therapies, healthcare IT&Software, as well as new diagnostics technologies (e.g. nanotech, optical). In industrial and public infrastructures, the focus is on sensor and automation enabling technologies, such as wireless connectivity, next generation batteries, mesh networks and process improvements, including non-destructive testing. A more detailed overview of our search fields is available at http://www.siemensventurecapital.com/aboutus/searchfields.htm
Effective October 2007, the India Innovation Program serves as an encouraging platform for Indian entrepreneurs to develop innovative business programs that will address developmental challenges in the specified business areas. The top three finalists will receive a token cash prize. In addition to the prize, the winners will also be evaluated for a funding opportunity from SVC and / or opportunities for collaboration with Siemens.
Announcing the launch, Dr. Ralf Schnell, President and CEO of SVC, said,
“A fast growing Indian economy increasingly faces infrastructure challenges. There is a growing need for innovative, high quality and efficient infrastructure solutions and technologies. This program will serve as a catalyst for entrepreneurs to take steps in this direction.”
Dr. Mukul Saxena, Vice President & Head of Siemens Corporate Technology India added: "Regional markets require innovative products and solutions tailored to meet local needs with a strong potential for global reach. In addition we foresee the "bottom of the pyramid" segments playing an important role in organizations' product strategy. Technology provides a unique leverage to address these business challenges. India is also gaining its reputation for "technopreneurship" and this forum will help us bring out this latent talent in the country. "
For more information on the program, please visit http://www.siemensventurecapital.com/india/bplan.htm
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