Qualcomm Announces to Invest $150 Million for Indian Start-Ups
San Jose: In an effort to push Digital India
initiative, Silicon Valley-based tech giant Qualcomm today said it will
invest $150 million for Indian start-ups.
"We share Prime Minister Narendra Modi's vision to transform India into a digitally empowered society and knowledge economy," Qualcomm executive chairman Paul E Jacobs said in his remarks at a dinner hosted in honour of Modi.
"We are committed to providing local innovative start-ups with the
support needed to help India's IOE (Internet of Everything) ecosystem
grow, increasing consumer choice and availability," Jacobs said as he
announced a $150 fund to boost start-ups in India.
Qualcomm, he said, has been investing in promising Indian start-ups since 2007 and there are more than 20 Indian companies as part of its global portfolio.
Qualcomm, he said, has been investing in promising Indian start-ups since 2007 and there are more than 20 Indian companies as part of its global portfolio.
Sectors of investment vary across the mobile ecosystem and include
hardware, software platforms, e-commerce, healthcare, location based
services and retail technology.
Initiatives such as the QPrize competition, a global seed investment competition, as well as an early stage fund, are part of the team's efforts in encouraging early stage entrepreneurs.
"Since Qualcomm's first India investment in 2007 and with full-fledged presence starting in early 2008, we continue to invest broadly to strengthen India's overall economy," said Nagraj Kashyap, senior vice president of Qualcomm in a statement
Initiatives such as the QPrize competition, a global seed investment competition, as well as an early stage fund, are part of the team's efforts in encouraging early stage entrepreneurs.
"Since Qualcomm's first India investment in 2007 and with full-fledged presence starting in early 2008, we continue to invest broadly to strengthen India's overall economy," said Nagraj Kashyap, senior vice president of Qualcomm in a statement
"We are committed to providing these companies with the support needed
to help propel them forward in the competitive Indian region. We're
excited about the new prospects in India and look forward to growing our
portfolio," he said.
Qualcomm has been playing a key role driving India's wireless revolution by making mobile communications increasingly accessible and affordable.
For over two decades, it has been helping the country's mobile ecosystem achieve ongoing success and growth through its work with operators, OEM/ODMs, software developers, sales/distribution partners, governmental entities, academic institutions and standards organizations, among others.
Qualcomm has been playing a key role driving India's wireless revolution by making mobile communications increasingly accessible and affordable.
For over two decades, it has been helping the country's mobile ecosystem achieve ongoing success and growth through its work with operators, OEM/ODMs, software developers, sales/distribution partners, governmental entities, academic institutions and standards organizations, among others.
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