- Qualcomm recently announced that it launched a Qualcomm Ventures 5G Ecosystem Fund, which will invest up to $200 million in 5G companies
Qualcomm announced recently that it launched a Qualcomm Ventures 5G Ecosystem Fund, which will invest up to an aggregate of $200 million in companies that are building on the 5G ecosystem.
This global fund is going to focus on investing in startups developing new and innovative 5G use cases and driving 5G network transformation. Plus the fund is built to help accelerate 5G innovation beyond the smartphone and drive 5G adoption.
“5G will transform industries and should be viewed as a business strategy for all,” said Steve Mollenkopf, chief executive officer of Qualcomm Incorporated. “The intent of this fund is to fuel innovative 5G businesses that will be poised to take advantage of the $13.2T economic benefit that 5G will enable by 2035.”
As the leading wireless technology innovator, Qualcomm is is known for inventing foundational technologies such as 5G that transforms how the world connects and communicates.
Industry experts are expecting 5G to have a significantly greater impact than any previous generation of cellular technology and drive a whole new era of innovation. There are 9 companies that sell 5G radio hardware for carriers including Qualcomm, Altiostar, Cisco, Datang, Ericsson, Huawei, Nokia, Samsung, and ZTE.
Qualcomm launched the Qualcomm Ventures AI Fund last year with a focus on investing in companies using on-device artificial intelligence. And the 5G Ecosystem Fund builds on Qualcomm’s strategy of investing in technology areas that will drive the economy forward.
“The 5G Ecosystem Fund will invest in startups developing 5G applications beyond smartphones and across the entire 5G value chain” added Quinn Li, Senior Vice President of Qualcomm Technologies and global head of Qualcomm Ventures. “From companies developing new use cases leveraging 5G’s unique capabilities to solutions that transform networks into an intelligent, software-defined connectivity fabric. We want to fuel the innovations in the 5G ecosystem and unlock the potential of 5G.”
Qualcomm Ventures started out in 2000 and has a strong track record of investing in over 350 leading global startups. Some of the companies that Qualcomm Ventures invested in include Zoom, Cloudflare, AMEC, Xiaomi, Cruise Automation, 99, Thundersoft, Fitbit, and Waze.
Qualcomm’s research and pioneering development of 5G will enable Qualcomm Ventures to serve as an ideal investor in startups that can utilize 5G capabilities and drive the next wave of innovation.
Featured image credit: Steve Mollenkopf via Qualcomm