Alcatel and Runway intend to jointly incorporate Runway Telecom, a telecommunications and datacommunications incubator

December 20, 2000

1 Min Read

PARIS -- Alcatel and Runway today announced that theyintend to jointly incorporate Runway Telecom, a dedicatedTelecommunications and Datacommunications incubator based in Israel. RunwayTelecom will be the Managing Partner of a Fund to be raised by Runway inwhich Alcatel will commit up to 50%, jointly with other investors.Runway Telecom will focus on technology start-ups in wirelessinfrastructure, optics, next generation networks, and new telecom solutionsand services. Runway Telecom intends to simultaneously incubate up to 6-8start-up companies over a 12-18 month incubation period.

"Runway Telecom fits well into Alcatel's dual approach to innovation,combining world-class in-house research and development with externallydeveloped leading edge technologies,” said Christian Grégoire, Alcatel'sVice President, Research and Innovation. "Runway provides exactly the rightskill mix Alcatel was looking for: an experienced and widely respectedentrepreneur and a complementary management team to advise otherentrepreneurs in setting up their company based on leading edge telecomtechnologies.”

http://www.alcatel.com

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