At the start of the year, Phoenix Contact created a new company within the Group: Phoenix Contact Innovation Ventures GmbH is to invest in innovations in order to bring them to commercial maturity.
The company invests capital in original ideas which have bearing upon Phoenix Contact's product and solution portfolio. Working together with the creative minds behind the ideas, business models are developed that promise success in the market. In addition, the founders of these startup ventures can benefit from the experience and network offered by the Blomberg-based company.
The new company is based at the Blomberg site. The Executive Vice Presidents are Marcus Böker and Andreas Rau. Through technology scouting they are able to identify product developments, services, and new materials that fit with the technological direction pursued by Phoenix Contact. A reliable business plan, an existing prototype, and being based in Germany are three key criteria for investment.
In this way, Phoenix Contact means to stimulate innovation in its own company at an early stage. The Blomberg-based global market leader is therefore implementing its mission statement of shaping progress through innovative solutions beyond the company itself, benefiting both partners and further strengthening Germany's position for cutting edge technology.
For additional information, visit phoenixcontact-innovationventures.com.