Qualcomm has announced they are coming to India, company is spending $150 million to being its startups in Indian. Qualcomm planning is on the right time, as with Indian Prime Minister Narendra Modi visiting Silicon Valley recently.
Modi wants to grow India into technology hub, India is already a very big mobile market and it may help the country grow. Qualcomm on the other hand wants to move into the Indian market more, with the Chinese market beginning to slow down as it gets slammed by regulators. Qualcomm Executive Chairman Paul Jacobs met the Indian PM at the Digital Economy event in San Jose recently, saying that the $150 million venture fund was in support of the Indian government’s Digital India and Make-in-India initiatives.
Jacobs added that Qualcomm shared Modi’s vision of transforming India into a “digital empowered society and knowledge economy”, reports Fudzilla. Jacobs said: “India is at the cusp of a technology revolution and mobile technologies will lay the foundation for Digital India. We are committed to providing local innovative start-ups with the support needed to help India’s IOE ecosystem grow, increasing consumer choice and availability”.