Qual­comm to in­vest up to $150 mil­lion in In­dian star­tups

Voice&Data - - EDITORIAL -

“In­dia is at the cusp of a tech­nol­ogy revo­lu­tion and mo­bile tech­nolo­gies will lay the foun­da­tion for Dig­i­tal In­dia. We are com­mit­ted to pro­vid­ing lo­cal in­no­va­tive start-ups with the sup­port needed to help In­dia’s IOE ecosys­tem grow, in­creas­ing con­sumer choice and avail­abil­ity,” said Dr Paul E Ja­cobs, Ex­ec­u­tive Chair­man, Qual­comm Inc

US global semi­con­duc­tor com­pany Qual­comm Inc has com­mit­ted to in­vest up to $150 mil­lion in In­dian startup com­pa­nies dur­ing a meet­ing with Prime Min­is­ter Naren­dra Modi at the Dig­i­tal Econ­omy event in San Jose.

Qual­comm Ven­tures will ad­vise and direct Qual­comm’s ac­tiv­i­ties with re­spect to th­ese strate­gic in­vest­ments.

Qual­comm has been in­vest­ing in In­dian star­tups since 2007 and there are more than 20 In­dian com­pa­nies as part of its global port­fo­lio. Its 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.

Qual­comm di­rectly in­vests in In­dian mo­bile and in­ter­net start-up com­pa­nies to keenly foster the lo­cal ecosys­tem. Port­fo­lio com­pa­nies in­clude Yourstory, a me­dia tech plat­form for en­trepreneurs; Portea Med­i­cal, an in-home health­care provider; and MapMyIn­dia, a provider of dig­i­tal map, nav­i­ga­tion, and track­ing prod­ucts and ser­vices.

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