Company retains initiative between ALU/Bell Labs and the University of Pittsburg Medical Center.

Alcatel-Lucent, a US-based telecom equipments maker, is understood to have shut its corporate venturing unit. Alcatel-Lucent Ventures had focused on internal incubation of ideas within the company’s Bell Labs after spinning off its external equity investments to venture capital firm New Venture Partners in 2002. A source inside Alcatel-Lucent (ALU) said the Ventures unit had…

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