Qualcomm Incorporated (NASDAQ: QCOM) announced its intention to invest up to $150m in Indian startup companies across all stages.
Its venture capital arm Qualcomm Ventures will advise and direct the 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.
The company’s Portfolio 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.
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.