Qualcomm Incorporated (NASDAQ: QCOM) said it intends to invest up to USD150 million in Indian startup companies across all stages as part of its commitment to India.
Qualcomm Ventures will advise and direct Qualcomm´s activities with respect to these strategic investments.
Qualcomm has been investing in promising Indian startups 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 QPrizeâ¢ 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 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. Indian companies receiving funding can benefit from Qualcomm´s insights on mobile technologies and utilize Qualcomm´s relationships throughout the industry. Qualcomm Ventures´ India team also provides unique support through its comprehensive knowledge and understanding of the region.
Qualcomm is a world leader in 3G, 4G and next-generation wireless technologies.