New Delhi, Feb 18 (SocialNews.XYZ) In conjunction with Qualcomm CEO Cristiano Amon’s participation in the 'India AI Impact Summit' here, the chip major on Wednesday announced plans to invest up to $150 million through Qualcomm Ventures to back Indian startups across all stages.
The US-based company aims "to support India’s rapidly expanding technology and AI startup ecosystem, with a focus on AI for automotive, IoT, robotics and mobile," it said in a statement.
“Through our new Strategic AI Venture Fund, Qualcomm is investing in companies that are advancing the next chapter of AI in India,” said Cristiano Amon, President and CEO, Qualcomm.
AI is entering a new phase where intelligence is built directly into devices and systems people depend on every day, from smartphones and PCs to cars, industrial machines, robots, etc., delivering richer meaningful experiences, Amon said, adding the shift will reshape entire industries.
Amon said that India’s startup ecosystem has a critical role to play as edge AI drives innovation across sectors.
The Venture Fund underscores Qualcomm’s long‑standing commitment to India’s technology landscape and aligns with the company’s leadership in advancing edge AI at global scale, the release said.
Qualcomm aims to help emerging companies build transformative, market‑leading solutions market‑leading solutions by helping founders accelerate innovation through access to its deep technology expertise and global industry network.
Qualcomm has been investing in India’s startup community since 2007, backing more than 40 companies such as MapMyIndia, a provider of digital maps and navigation solutions; ideaForge, a pioneer in drone technologies etc, the release said.
The ‘India AI Impact Summit 2026’ brings together the heads of state and government, ministers, global technology leaders, eminent researchers, multilateral institutions and industry stakeholders to deliberate on the role of AI in advancing inclusive growth.
The five-day summit is witnessing participation from over 100 government representatives, including more than 20 heads of state and government and 60 Ministers and Vice Ministers, along with over 500 global AI leaders comprising CEOs, founders, academicians, researchers, CTOs and philanthropic organisations.
—IANS
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Source: IANS
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