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Indian PM Notches in Silicon Valley: The Big boy Qualcomm invests $150M on Indian Start-ups


The mobile internet wave in India has attracted much funding for start-up companies. Leading chipmaker Qualcomm today reported an India-particular USD 150 million investment store for new companies in the internet-of-everything (IoE) and mobile arena. This store will be set up through its endeavor arm, Qualcomm Ventures.

Other than the new VC reserve which will furnish new businesses with backing to scale up, Qualcomm will likewise set up an advancement lab in Bangalore. This will give specialized and building backing to hand-picked Indian organizations. It will run a nationwide plan test to pick inventive item and equipment organizations to host at the Qualcomm Innovation Lab.

The declarations were made when an official executive of Qualcomm Dr. Paul E. Jacobs met Indian leader Narendra Modi in San Jose today. Modi is in the US for a progression of gatherings with tech goliaths to accumulate support for his administration’s ‘Advanced India’ and ‘Make in India’ activities. Apple CEO Tim Cook and Tesla CEO Elon Musk were among others he met amid a voyage through Silicon Valley today. The Indian PM is likewise planned to visit the grounds of Google and Facebook today, adjusting it off with a location to Indian-Americans at the SAP Center in San Jose. Tomorrow, Modi will meet US president Barack Obama.

Qualcomm is as of now dynamic in the Indian start-up biological community with interests in more than 20 organizations in the nation. As such, its India portfolio has new companies over the versatile biological community, including equipment, programming stages, e-commerce, medicinal services, area-based administrations, and retail technology.