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Article: Nokia creates fund to support in-house ideas.(Nokia Early Stage Technology Fund)
- Article from:
- New Media Age
- Article date:
- December 6, 2001
- Author:
CopyrightCOPYRIGHT 2001 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nokia has launched a new [epsilon]40m ([pounds sterling]25.1m) fund to develop new business ideas within the company.
The Nokia Early Stage Technology Fund is part of the firm's Ventures Organisation, which was set up to develop new business opportunities. The new fund will provide seed capital to develop new business ideas from anywhere in Nokia's global operations.
Jyrki Rosenberg, a spokesman for the firm, said it would invest in companies "where the strategic value is unclear" but where Nokia wants to keep its options open. Typical investments are likely to be around [epsilon]1m-2m at a time and Rosenberg felt it likely that technology rather than ...