Miele is strengthening its support for new businesses with promising ideas and technology, which are looking for a partner. In order to identify such businesses and to make capital available to them, the Gütersloh-based company has founded a new subsidiary enterprise, Miele Venture Capital. With this, the Miele group is able to concentrate and intensify its projects to co-operate with start-up companies. Miele Venture Capital focuses on creative solutions which are compatible with Miele products, services, value chains, business models or manufacturing processes. Forms of co-operation will range from joint development projects or management support through to direct equity stakes. According to Olaf Bartsch, Administration and Finance Director of the Miele Group, participation in new technology enterprises is a strategic investment for Miele that should be sustainably beneficial for all participants. The management of Miele Venture Capital has been placed in the hands of Peter Hübinger (responsible for the smart home business field and director of Miele’s Gütersloh-based electronics plant), Christian Kluge (Head of Central Controlling) and Gernot Trettenbrein (Head of Domestic Appliances International).
