Ericsson launches new incubator company
Ericsson launches new incubator company Ericsson has set up a new innovation company - Ericsson Business Innovation AB - to develop ideas from entrepreneurs inside Ericsson to commercial success. The company will manage Ericsson's internal innovation programs. Ericsson Business Innovation AB comes into being on 1 July 2000. It is an entrepreneurial organization with a streamlined structure and an experienced management team drawn from within Ericsson. The company will establish Innovation Hubs in several places to promote the benefits of Ericsson as an innovation partner, and to support entrepreneurs. The Hubs will be staffed by senior managers who have experience in identifying business opportunities. President of Ericsson Business Innovation, Jöran Hoff, said: "Ericsson is one of the most innovative companies in the world and one of the reasons for our success is that we put in place structures to support innovation. This new company is the right model for today's business environment." The first three focus areas for the new company are: solutions for broadband, high-speed residential Internet connection - including the techniques for deploying fiber optic cables to individual homes - content aggregation and next-generation automotive communications. Through the new company, Ericsson has interest in around a dozen companies, including Wireless Car AB (a joint venture with Volvo and Telia), Connect Things Inc. (bar code technology for Internet) and Terraplay Systems AB (a company that produces systems for high-speed, Internet-based multi-player game-playing). Ericsson is the leading communications supplier, combining innovation in mobility and Internet in creating the new era of mobile Internet. Ericsson provides total solutions covering everything from systems and applications to mobile phones and other communications tools. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for customers all over the world. Read more at http://www.ericsson.se/pressroom FOR FURTHER INFORMATION, PLEASE CONTACT: Mads Madsen, Press Manager, Ericsson Corporate Communications. Tel: +46 8 719 0626; Email: mads.madsen@.lme.ericsson.se Jöran Hoff, President, Ericsson Business Innovation AB. Tel: +46 8 757 0489; Email: joran.hoff@era.ericsson.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/16/20000616BIT00970/bit0001.doc http://www.bit.se/bitonline/2000/06/16/20000616BIT00970/bit0002.pdf