Wireless chip major Qualcomm will invest up to $150 million in Indian startup companies across all stages.
Qualcomm, which is facing challenging market conditions in China, announced the latest investment initiative in India during a meeting with Prime Minister Narendra Modi at the Digital Economy event in San Jose.
Last year, Qualcomm announced similar investment program in China as well.
The wireless chip company has invested in promising Indian startups since 2007 across the mobile ecosystem and include hardware, software platforms, e-commerce, healthcare, location based services and retail technology.
Qualcomm directly invests in Indian mobile and internet start-up companies.
The US-based company has invested in 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.
“We share Prime Minister 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 Paul E. Jacobs, executive chairman, Qualcomm.
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