Siemens to Spend EU1 Billion on ‘Disruptive Ideas’ Startups

  • Next47 will operate from Berkeley, Shanghai and Munich
  • CEO Kaeser aims to foster a more nimble corporate culture

Siemens AG is setting up a unit to invest 1 billion euros ($1.1 billion) over five years on “disruptive ideas,” the latest bid by Europe’s largest engineering company to move into digitalization and shed a reputation for being slow and cautious.

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