Indian start-ups get boosting help as US-based tech behemoth Qualcomm announces $150 million injection: it is for US tech giant Qualcomm, Inc. The action emphasizes the company’s confidence in India’s burgeoning technology ecosystem, with a strong focus on artificial intelligence (AI) and deep-tech. The funding will be hosted by Qualcomm Ventures, which supports startups of almost any stage of development and has been named as the ‘franchised angel’ in order to keep up its business.
Qualcomm has been very clear how the fund will focus on AI technologies. Areas of focus will include automotive, Internet of Things (IoT), robotics and mobile technologies. These are considered integral to future global technology, and India’s talent-base and startup environment make it a particularly attractive environment for such efforts to unfold. The company’s own leadership said the effort “is not only about financial assistance, but also about building long-term partnerships; it’s really making our long-term future possible.” Qualcomm also wants to boost innovation in the form of Indian startups while reinforcing its position in shaping the edge AI technologies of the future.
Qualcomm CEO Cristiano Amon, at the India AI Impact Summit in New Delhi, to showcase India’s stature. What’s more, India, his observation goes, has evolved from a “back-office business-place” to a “design, testing, and scaling hub for cutting-edge technologies,” as it were. It is a big-time signal to the world that India will be an important node for the development of AI and deep tech solutions. The company already has an established presence in the space, and the new fund will serve to bolster its commitment to the India tech landscape.
It’s a big opportunity for Indian startups. That access to capital, mentorship and extensive global networks can help them scale up quicker and compete on a world stage. It’s those startups researching AI applications in sectors such as healthcare, logistics or smart cities that are set to gain the most from such opportunities. Market analysts argue Qualcomm’s maneuver will push other global investors more firmly into India. It coincides with India’s own initiative to become a leader in AI and emerging technology.
The $150m infusion from Qualcomm into Indian startups isn’t just a financial investment. It’s a strategic move in view of India’s potential to take the lead on AI and deep-tech developments. Qualcomm is working to lead the way for India towards a world where it becomes king for the technology industry by backing startups in every industry.
