Hello and welcome to the Current Affair's Portal of ExamPundit.in. Silicon Valley based chip-maker Qualcomm on 27th September 2015 announced that it will invest 150 million US dollars for Indian start-ups. The investment will come through a venture fund.
The announcement was made after the company’s executive chairman Paul E Jacobs met the Indian Prime Minister Shri Narendra Modi at the Digital Economy event in San Jose.
The venture fund was in support of Indian Government’s Digital India and Make in India initiatives.
Qualcomm will provide local innovative start-ups the support required to help country’s Mobile and Internet of Everything (IOE) ecosystem grow. The company is also set to extend its support to the start-ups in financial, marketing and technology fields.
Qualcomm has been investing in Indian start-ups since 2007.
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