Qualcomm today announced the launch of the Qualcomm Ventures 5G Ecosystem Fund to invest up to an aggregate of $200 million in companies building the 5G ecosystem.
The global fund will focus on investing in startups developing new and innovative 5G use cases, driving 5G network transformation and expanding 5G into enterprise markets. This fund is designed to help accelerate 5G innovation beyond the smartphone and drive 5G adoption.
Steve Mollenkopf, CEO, Qualcomm said, “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 will invest in startups developing 5G applications beyond smartphones and across the entire 5G value chain,” said Quinn Li, Senior Vice President, Qualcomm Technologies and Global Head, Qualcomm Ventures.
“From companies developing new use cases leveraging 5G’s unique capabilities to solutions that transform networks into an intelligent, software-defined connectivity fabric. We want to fuel the innovations in the 5G ecosystem and unlock the potential of 5G,” added Li.
This fund will continue to invest in those that share Qualcomm Ventures’ vision to transform yet-to-be seen innovations and technologies into reality by using the power of 5G.