Oct 24, 2019SAN DIEGO
Qualcomm products mentioned within this press release are offered by Qualcomm Technologies, Inc. and/or its subsidiaries.
Qualcomm Incorporated (NASDAQ: QCOM) today announced the launch of the Qualcomm Ventures 5G Ecosystem Fund to invest up to an aggregate of $200 million in companies building the 5G ecosystem. The global fund will focus on investing in startups developing new and innovative 5G use cases, driving 5G network transformation and expanding 5G into enterprise markets. This fund is designed to help accelerate 5G innovation beyond the smartphone and drive 5G adoption.
Qualcomm is the world’s leading wireless technology innovator, inventing foundational technologies, like 5G, that will transform how the world connects, computes and communicates. As 5G continues to roll out faster and more broadly than 4G, industry experts expect it to have a significantly greater impact than any previous generation of cellular technology and fuel a new era of innovation.
“5G will transform industries and should be viewed as a business strategy for all,” said Steve Mollenkopf, CEO 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.”
Last year, Qualcomm announced the launch of the Qualcomm Ventures AI Fund, with a focus on investing in innovative startups using on-device AI. The 5G Ecosystem Fund announced today builds on this strategy of investing in technology areas that will drive the economy forward and where Qualcomm has a demonstrated expertise.
“The 5G Ecosystem Fund will invest in startups developing 5G applications beyond smartphones and across the entire 5G value chain” said Quinn Li, Senior Vice President, Qualcomm Technologies, Inc. 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 has a strong track record of investing in leading global startups with over 350 investments made since the group started in 2000. This includes notable companies like Zoom, Cloudflare, AMEC, Xiaomi, Cruise Automation, 99, Thundersoft, Fitbit and Waze.
This fund will continue to invest in those that share Qualcomm Ventures’ vision to transform yet-to-be seen innovations and technologies into reality by using the power of 5G. Qualcomm’s industry-leading research and pioneering development of 5G will allow Qualcomm Ventures to serve as an ideal investor in startups that can leverage 5G’s capabilities and bring forth the next wave of innovation.
Qualcomm invents breakthrough technologies that transform how the world connects, computes and communicates. When we connected the phone to the Internet, the mobile revolution was born. Today, our inventions are the foundation for life-changing products, experiences, and industries. As we lead the world to 5G, we envision this next big change in cellular technology spurring a new era of intelligent, connected devices and enabling new opportunities in connected cars, remote delivery of health care services, and the IoT - including smart cities, smart homes and wearables. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering, research and development functions, and substantially all of our products and services businesses, including, our QCT semiconductor business. For more information, visit Qualcomm’s website, OnQ blog, Twitter and Facebook pages.
About Qualcomm Ventures
As the venture capital investment group of Qualcomm Incorporated, a world leader in next-generation wireless technologies, Qualcomm Ventures has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we’re focused on building the connections that bring our mobile future forward. For more information please visit: www.qualcommventures.com.