Qualcomm announces the establishment of a $200 million investment fund for investing in 5G application startups
Qualcomm announces establishment of $200 Million Investment Fund for Non-Mobile 5G Applications
Today, Qualcomm announced the establishment of a 5G Ecosystem Fund with a total value of US$200 million for investing in 5G ecosystem start-ups.
According to Qualcomm, the global investment fund will focus on start-ups that can develop innovative 5G applications and drive 5G network transformation and extend 5G to the enterprise market. The goal is to accelerate 5G innovation in a wide range of areas outside of smartphones and promote the popularity of 5G.
Qualcomm CEO Steven Mollenkopf said that by 2035, 5G will support $13.2 trillion in economic output. The establishment of this 5G investment fund is to support the huge opportunities that 5G innovative companies embrace.
According to analysts, the 5G Ecosystem Fund will invest in 5G application development outside of smartphones, as well as start-ups in the entire 5G value chain. Its strategic significance is to invest in the technology areas of Qualcomm's expertise.