On June 28, Siemens said it would set up a new independent business unit "Next47", dedicated to the incubator start-up companies inside and outside the project. Siemens plans in the next five years spent 1 billion euros for the new business unit, focusing on artificial intelligence, distributed generation, such as block chain prospective in the field of project investment.

Next47 new business department will be on October 1, 2016 formally established, and in the United States, Berkeley, Shanghai, China, and set up offices in Munich, business scope covering all areas around the world. Siemens corporation chief technology officer Ruth (Siegfried Russwurm) will serve as acting head of the business department.

Siemens, Siemens said Next47 department will integrate the current startup project, at the same time for internal staff, company founder, external start-ups and already have a certain scale of the company, to support its planning in Siemens business idea in the field of strategic innovation.

"Next47 will offer free space to try and grow, and we in electrification, automation and digital mining core business areas of disruptive innovation ideas and potential." Head of the department of proposed Ruth said.

It is reported, Next47 department's first project will come from aviation system electrification field. According to Siemens in April 2016 and the airbus group signed a cooperation agreement, both sides committed to 2020 years ago, complete for small to medium-sized passenger plane hybrid/electric propulsion system of technical feasibility. In addition, also pay attention to the innovation of the new department including artificial intelligence, machine, distributed generation, network traffic and chain block application development, etc.

Siemens said, the new department named "Next47", originated from Siemens was established in 1847. Siemens since the 1990 s and start-up companies, has been to about 180 start-ups investment of more than 800 million euros.

Siemens company for the German electrification, automation and digital technology leading enterprises, the current commercial operations in more than 200 countries worldwide, with 350000 employees. Siemens existing electricity and natural gas group, wind power and renewable energy, power generation service group, energy management, building science and technology group, traffic,

Digital factory group, process industry and drives group, financial services group, medical group 10 business department. The newly established business Next47 will be parallel with the business department.

Siemens into China since 1872. In fiscal year 2015 (October 1, 2014 to September 30, 2015), Siemens in China's total revenue of 6.94 billion euros, with about 32000 employees.