San Diego-based wireless telecommunications firm Qualcomm Incorporated says it has made a commitment to invest up to US$150 million in Chinese start-up companies across all stages, according to a company announcement.
Qualcomm will invest in Chinese companies that further the development of mobile technologies in the Internet, e-commerce, semi-conductor, education and health.
Qualcomm Ventures, the venture investment arm of Qualcomm, will advise and direct Qualcomm’s investment activities. The company says that it has already made investments in mobile education start-up Cambridge Wowo, and mobile healthcare firm Boohee.
Qualcomm has been actively investing in China for more than ten years and this new commitment is driven by the burgeoning start-up community in mobile and wireless as well as the success Qualcomm has had with several Chinese investments.
Qualcomm has previously invested in Chinese smartphone maker Xiaomi, Chinese mobile content developer Enorbus, and car rental service provider Yongche.
Qualcomm also sees China as a strong player in the semiconductor industry and Qualcomm wants to increase investments in this area to add to its existing strategic investments in Chinese companies such as Advanced Micro-Fabrication Equipment Inc.
"Qualcomm remains committed to supporting the continuous growth of China’s flourishing mobile ecosystem, the development of 4G LTE networks, devices and applications, and addressing industry evolutions and challenges, including the impending 1000x mobile data challenge," says Steve Mollenkopf, CEO of Qualcomm.