Phoenix Contact has added a new company to the Group at the onset of the new year. Phoenix Contact Innovation Ventures GmbH will invest in innovative technologies to make them commercially viable. It will invest its funds into promising ideas that are relevant to Phoenix Contact’s range of products and solutions. Innovation Ventures will develop business models that promise market success, together with the people providing the new ideas. In addition, these start-ups will be able to benefit from Phoenix Contact’s experience and extensive networks.
Innovation Ventures will be based in Blomberg, Germany; Marcus Böker and Andreas Rau will be the Executive Vice Presidents. As part of their technology scouting, the two will identify product developments, services, and new types of materials that match Phoenix Contact’s own technological orientation. The three main criteria for investment are: a sound business plan, an already-existing prototype, and for the start-up to be based in Germany.
With the new investment company, Phoenix Contact aims to adopt new innovations for its own developments early on. The Blomberg-based world market leader is thus applying its guiding principle of fostering progress through innovation to its partners, and not only internally – an approach that benefits both parties and also ensures Germany’s continued role as a top location for technology.
For more information, please visit phoenixcontact-innovationventures.com.