Qualcomm To Invest $150 Million In Indian Startups

The Indian startup industry is now attracting global bigwigs. The latest company to join the fray is Qualcomm Inc., an American global semiconductor company that designs and markets wireless telecommunications products and services. The company’s headquarters are located in San Diego, California, and it is the leading mobile chip player in the world.  Qualcomm already has a research and development centre in Bangalore.

Paul E Jacobs, Chairmen of Qualcomm announced this during the dinner hosted for PM Modi by US government. The chip maker has announced a £150 million fund to invest in India startups. Paul E Jacobs said, “We will invest in Indian startups that focus on contributing to mobile and “internet of everything’ ecosystem”


Company also announced to start “Design in India” initiative which will encourage creation of a local product design ecosystem. “A Qualcomm innovation lab will be set up in Bangalore to provide technical and engineering support to indian companies.”, the company said.

“We share PM Narendra Modi’s vision to transform India into a digitally empowered society and knowledge economy. India is at the cusp of a technology revolution and mobile technologies will lay the foundation for Digital India,” said Jacobs.