Chip maker Qualcomm Incorporated announces $150 million fund to invest in Indian startups

SAN JOSE: Chip maker Qualcomm Incorporated has announced a $150 million fund to invest in Indian startups.

Paul E Jacobs, executive chairman, Qualcom announced at the Digital India dinner hosted that fund will invest in Indian startups that are focused on contributing to the mobile and 'internet of everything' ecosystem, the company said.

The company also said that it will begin ' Design in India' initiative which will encourage creation of a local product design ecosystem.

A Qualcomm Innovation Lab will be set up in Bangalore to provide technical and engineering support to Indian companies, the company said.