Qualcomm To Invest Up To $150 Mln In India - Quick Facts

(RTTNews) - Qualcomm Inc. (QCOM) announced that it has planned to invest up to $150 million in Indian startup companies across all stages as part of its commitment to India.

Qualcomm said it directly invests in Indian mobile and internet start-up companies to keenly foster the local ecosystem. Qualcomm Ventures will advise and direct Qualcomm's activities with respect to these strategic investments. Qualcomm Ventures' India team also provides unique support through its comprehensive knowledge and understanding of the region.

Qualcomm said in a meeting with Prime Minister Narendra Modi at the Digital Economy event in San Jose that it believes its initiatives in India will help support the Indian government's Digital India vision.

Qualcomm has been investing in promising Indian startups since 2007 and there are more than 20 Indian companies as part of its global portfolio.

"We are committed to providing local innovative start-ups with the support needed to help India's IOE ecosystem grow, increasing consumer choice and availability," said Dr. Paul E. Jacobs, executive chairman, Qualcomm Incorporated.