Qualcomm Incorporated (NASDAQ: QCOM), a world leader in 3G, 4G and next-generation wireless technologies, has made a commitment to invest up to $150m in Chinese startup companies across all stages.
Qualcomm will invest in Chinese companies that further the development of mobile technologies in the following areas:
– education and
It also sees China as a strong player in the semiconductor industry and wants to increase investments in this area.
The firm has just invested in Cambridge Wowo, a mobile education start-up, and Boohee, a mobile healthcare company.
Qualcomm Ventures, the venture investment arm of Qualcomm, will advise and direct Qualcomm’s investment activities with respect to these strategic investments. Formed in 2000, the firm currently has a portfolio of more than 100 active companies and 20 investment managers across the globe. It also invests in seed stage companies through its QPrize/Mobile Internet Startup Competition which evaluates and awards seed funding for promising early stage Chinese entrepreneurs.