US$200m Qualcomm fund to fuel 5G innovation

Thursday, 07 November, 2019

US$200m Qualcomm fund to fuel 5G innovation

Businesses working to expand the 5G ecosystem could soon benefit from an investment fund, set to contain up to US$200 million.

The Qualcomm Ventures 5G Ecosystem Fund is designed to help accelerate 5G innovation beyond smartphone use and drive adoption. It will focus on investing in start-ups developing new 5G uses, driving 5G network transformation and expanding 5G into enterprise markets, according to Qualcomm.

It follows industry experts’ prediction that 5G will have a “significantly greater impact than any previous generation of cellular technology and fuel a new era of innovation”, Qualcomm said.

Qualcomm CEO Steve Mollenkopf said, “5G will transform industries and should be viewed as a business strategy for all.

“The intent of this fund is to fuel innovative 5G businesses that will be poised to take advantage of the $13.2 trillion economic benefit that 5G will enable by 2035.”

The 5G Ecosystem Fund follows last year’s launch of the Qualcomm Ventures AI Fund and builds on the company’s strategy of investing in technology that will push the economy forward and where Qualcomm has demonstrated expertise, the company said.

Qualcomm has made over 350 investments since 2000, supporting companies like Zoom, Cloudflare, AMEC, Xiaomi, Cruise Automation, 99, Thundersoft, Fitbit and Waze.

Image credit: © Planet Studio

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