Qualcomm Mobile chip designer , has established an India specific $150 million investment fund for innovation in the mobile technology and internet of everything (IoE) space. After a meeting with Prime Minister Narendra Modi in the US. The firm’s executive chairman Paul E Jacobs made the announcement
ARM giant will also “setup an Innovation Lab in Bengaluru to provide technical and engineering support for both local consumption, and the rest of the world”, said the company.
“We share PM Narendra Modi’s vision to transform India into a digitally empowered society and knowledge economy. India is at the cusp of a technology revolution and mobile technologies will lay the foundation for Digital India,” Jacobs said .
Qualcomm is the leading mobile chip player in the world and already has a research and development centre in Bengaluru.