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September 20, 2017

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SMEs need to link up with heavyweights: Siemens

Siemens Taiwan indicated that local small and medium enterprises (SMEs), despite a strong research and development (R&D) ability, should look for more innovative technologies to link up with international heavyweights.

Siemens Taiwan and the Small and Medium Enterprise Administration (SMEA) under the Ministry of Economic Affairs jointly held the APEC Accelerator Network Summit at the Sheraton Grande Taipei Hotel on Aug. 6 and 7.

Siemens Taiwan President & Chief Executive Officer Erdal Elver, who has been invited to speak at the APEC Accelerator Network Summit, said, "Taiwan has a strong and unique innovation-oriented R&D ability in information and Communication Technologies (ICT), but sometimes SMEs that possess innovative technology are unsure of how to link up with international heavyweights."

Elver added that Siemens looks for potential technologies in the marketplace and invests in and nurtures start-ups that feature these innovative technologies.

Rudolf Freytag, Chief Executive Officer of Siemens Corporate Technology's Innovative Ventures, and Sven Scheuble, Global Head of Siemens' Technology-to-Business unit, specially visited Taiwan to attend the activity and help pick the winning teams of the APEC Challenge.

Siemens has a longstanding commitment to supporting innovation networks. The APEC Challenge, sponsored by Siemens, was held on the second day of the summit. Judges are expected to select top-notch start-up teams featuring innovative technology from the Asia-Pacific region.

The APEC Challenge is one of the foremost innovation-oriented competitions in the region, with 35 worthy entrepreneurial teams from the Asia-Pacific shortlisted this year, ten of which will be selected as winners in the final round of judging by a panel comprised of investors, experts, consultants, and industry specialists.

Three groups selected by Siemens will then be sent to the Silicon Valley in October to participate in the 2014 Global Siemens New Ventures Forum where they will vie against other competing teams from all over the world.

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