Qualcomm to invest in Indian Startups |
Chip-maker Qualcomm said it would invest up to $150 million in Indian startups through a venture fund after Prime Minister Narendra Modi met top tech honchos.Executive chairman, Paul Jacobs, met Modi at the Digital Economy event in San Jose and said the venture fund was in support of the government`s Digital India and Make in India initiatives.The new venture fund will be managed by Qualcomm Ventures, a subsidiary of the company.Qualcomm, which first invested in India in 2007, has a portfolio of 20 Indian companies. Its investments 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.Qualcomm also plans to open an innovation lab in Bengaluru.
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