Qualcomm has announced that it’s launching a new fund to support start-ups. This fund gives the company the ability to invest up to $200m (£155m) in these early-stage companies. The only requirement is that the start-ups must be developing 5G technology for other devices than smartphones.
This is part of Qualcomm’s plan to bring 5G to the market by accelerating 5G innovation and adoption.
Qualcomm Ventures 5G Ecosystem Fund
The Qualcomm Ventures 5G Ecosystem Fund will support start-ups over the next four years. This will span all across the 5G value chain from companies developing devices, communications and applications.
Qualcomm appears to be well-positioned for next year’s 5G rollout. Most US carriers are on track to deliver nationwide 5G by 2020. Having said this, the company acknowledges that the real potential of 5G certainly lies beyond just the smartphone market, hence the start-up fund.
"5G will transform industries”
The investment should not only expand 5G coverage but also highlights its significance. Yes, 5G is great for super-fast mobile speeds. However, the technology can be utilised in healthcare, education and automated industries. Small start-ups investigating these areas need financial support which is where Qualcomm steps in.
"5G will transform industries and should be viewed as a business strategy for all," said Steve Mollenkopf, Qualcomm CEO. "The intent of this fund is to fuel innovative 5G businesses that will be poised to take advantage of the $13.2tn economic benefit that 5G will enable by 2035."
Hopefully, this will help aid the development of emerging technologies and innovative 5G use cases.