Press Release
Nokia launches new venture partnerships and venture studio to maximize commercial potential of Nokia Bell Labs' innovations
- Nokia Innovation Framework evolving with new venture studio and venture partnerships to unleash the full commercial potential of Nokia Bell Labs technologies outside of Nokia's strategic perimeters.
- A new venture studio with America's Frontier Fund and Roadrunner Venture Studios for commercializing the next generation of critical technology for the US will be situated in New Jersey, the iconic home of Bell Labs innovation for over 80 years.
- New venture partnership with Celesta Capital will invest in scaling ventures built with deep technologies from Nokia Bell Labs.
11 December 2023
Murray Hill, New Jersey – Nokia today announced an evolution to its Innovation Framework to unlock the full commercial potential of Nokia Bell Labs' innovations across industries and expand efforts in external startup creation in the US with new partnerships and a new venture studio located in New Jersey.
Nokia Bell Labs is a world-renowned idea factory and has a rich history of innovation with 10 Nobel Prizes to its credit. Bell Labs contributions to technology have been pivotal in shaping the world we live in today with 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.
As the industrial research arm of Nokia, Nokia Bell Labs creates world-leading, disruptive innovations and transfers technology to deliver value to Nokia's business groups for product differentiation and time-to-market advantages. 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 harnesses the ability to commercialize its innovations that are further adjacent to Nokia's strategy, or that can flourish better outside Nokia. 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.
To launch this effort, Nokia has solidified 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. AFF and RVS will contribute venture building and investments to drive innovation across multiple industries and establish the next generation of critical technology in the US. Celesta Capital will capitalize, lead and scale Nokia-backed ventures to accelerate their growth.
Nishant Batra, Chief Strategy and Technology Officer at Nokia, said: "Nokia Bell Labs is a global beacon of innovation. The new venture studio collaboration and partnerships combine Nokia Bell Labs' robust IP portfolio and research expertise with America's Frontier Fund and Roadrunner Venture Studios' teams of seasoned builders, and Celesta Capital's excellent investment track record and operational prowess to commercialize and scale new startups for long-term value creation and nurture leading companies in crucial technological domains for years to come."
Gilman Louie, Chief Executive Officer of America's Frontier Fund, said: "America's Frontier Fund is excited to partner with Nokia Bell Labs, which has been at the forefront of American innovation for 98 years. Together, with Roadrunner Venture Studios, we will continue this tradition and lead the way in frontier technology for another century."
Adam Hammer, Co-founder of Roadrunner Venture Studios, said: "The legacy of scientific discovery and innovation at Bell Labs helped inspire our mission to create disruptive companies from scientific breakthroughs. Together, we will build a premier venture studio on that legacy by bringing to market remarkable companies emerging out of this iconic American research institution."
Sriram Viswanathan, Founding Managing Partner of Celesta Capital, said: "Celesta Capital is excited to align with Nokia, leveraging its unparalleled strength in industrial research and its rich technology portfolio. We believe this collaboration with Nokia Bell Labs will harness Celesta Capital's unique capabilities in identifying, nurturing, and developing high-potential technologies into the leading deep tech companies of tomorrow."
Resources and additional information
Website: America's Frontier Fund
Website: Roadrunner Venture Studios
Website: Celesta Capital
About Nokia
At Nokia, we create technology that helps the world act together.
As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.
Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.
About America's Frontier Fund
America's Frontier Fund (AFF) focuses on maintaining U.S. leadership in science, technology, innovation, and manufacturing. AFF generates new companies via Roadrunner Venture Studios, funds early-stage ventures through its venture Frontier Fund, and partners with our allies through the Quad Investors Network. AFF's core emphasis is on artificial intelligence, advanced communications, advanced manufacturing, synthetic biology, energy, microelectronics, and other crucial, emerging technologies shaping the future.
About Roadrunner Venture Studios
Roadrunner Venture Studios is building a nationwide network of venture studios to advance U.S. economic competitiveness and national security. We co-found breakthrough deep-tech ventures with the nation's most brilliant scientists, engineers, and innovators. Roadrunner is the ultimate company "starter-kit," equipping portfolio companies with everything they need to go from the kernel of an idea to a venture-backed growth engine.
About Celesta Capital
Celesta Capital is a global multi-stage deep technology venture capital firm. Led by technology industry veterans with decades of investment and operational experience, Celesta Capital boasts a passion and proven track record for building and scaling global businesses. Established in 2013, Celesta holds a portfolio of over 100 early-stage technology investments. Learn more at http://celesta.vc.
Media inquiries
Nokia Communications, Corporate
Email: Press.Services@nokia.com
Celesta Capital
Trevor DeWitt, Head of Marketing
Email: trevor@celesta.vc
America's Frontier Fund
Alex El-Fakir, Director of Communications
Email: alex@americasfrontier.org
Roadrunner Venture Studios
Chris Haugh, Senior Advisor
Email: chris@roadrunnerstudios.com
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