Silicon Valley based chip-maker Qualcomm on 27 September 2015 announced that it will invest 150 million US dollars for Indian start-ups. The investment will come through a venture fund.
The announcement was made after the company’s executive chairman Paul E Jacobs met the Indian Prime Minister Narendra Modi at the Digital Economy event in San Jose. The venture fund was in support of Indian Government’s Digital India and Make in India initiatives.
Qualcomm will provide local innovative start-ups the support required to help country’s Mobile and Internet of Everything (IOE) ecosystem grow. The company is also set to extend its support to the start-ups in financial, marketing and technology fields.
Qualcomm has been investing in Indian start-ups since 2007.
Qualcomm Inc. is an American tech giant that designs and markets wireless telecommunications products and services.
The company was founded by Irwin M. Jacobs, Andrew Viterbi, Harvey White, Adelia Coffman, Andrew Cohen, Klein Gilhousen and Franklin Antonio in 1985 in San Diego, California.
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When: 27 September 2015
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