By Godson Umejiego, Bureau Chief, The Americas & Oystein Bergmann, Bureau Chief, Scandinavia

Nokia has 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.

Chief Strategy and Technology Officer at Nokia, Nishant Batra 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.”

Chief Executive Officer of America’s Frontier Fund, Gilman Louie 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.”

Co-founder of Roadrunner Venture Studios, Adam Hammer 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.”

Founding Managing Partner of Celesta Capital, Sriram Viswanathan 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.”