Nokia announced new partnerships and a new venture studio located in New Jersey.
To launch this effort, Nokia has consolidated long-term strategic partnerships with America’s Frontier Fund (AFF), Roadrunner Venture Studios (RVS) and Celesta Capital to accelerate the commercialization of deep technology pioneered by Nokia Bell Labs. This collaboration aims to take advantage of Nokia Bell Labs research efforts in areas targeting advanced 5G/6G communications, next-generation semiconductor and optical chip design and packaging, AI/ML, sensors and quantum computing.
The new venture studio – situated in New Jersey, the iconic home of Bell Labs innovation for over 80 years – will be launched in partnership with America’s Frontier Fund and Roadrunner Venture Studios for commercializing the next generation of critical technology for the US.
The new venture partnership with Celesta Capital will invest in scaling ventures built with deep technologies from Nokia Bell Labs (read more here).
These moves represent an evolution to its Innovation Framework to free the commercial potential of Nokia Bell Labs’ innovations across industries and expand efforts in external startup creation in the US. Nokia Bell Labs is the industrial research arm of Nokia whose contributions to technology include pioneering breakthroughs such as the world’s first transistor and solar cell, the birth of cellular and satellite communications and the invention of information theory and Unix.
In 2021, Nokia launched its Innovation Framework to create alternate pathways to capture value for innovations that fall outside its current business lines, including setting up an internal incubator for new business creation, expanding technology licensing to new or established companies, and establishing Fund V with NGP Capital to invest in far adjacencies.
With the new venture partnerships and venture studio, Nokia Bell Labs enhance its ability to commercialize its innovations that are further adjacent to Nokia’s strategy, or that can flourish better outside the company. By collaborating with seasoned venture partners, Nokia Bell Labs will be able to create and invest in strategic startups and industrialize external ventures to maximize long-term value creation for Nokia.