Qualcomm looked to expand the 5G ecosystem with the creation of a $200 million fund to back start-ups working on technologies designed to push boundaries beyond devices.
In a statement, CEO Steve Mollenkopf said the next-generation technology had the potential to transform industries and “should be viewed as a business strategy for all”.
SVP Quinn Li expanded, noting the fund was targeted at companies “developing 5G applications beyond smartphones and across the entire 5G value chain. We want to fuel the innovations in the 5G ecosystem and unlock the potential of 5G”.
The chipset manufacturer has invested in more than 350 start-ups since 2000, including now high-profile names Xiaomi, Fitbit and Waze.
In 2018, the company announced a $100 million fund covering AI-focused start-ups working on developments in autonomous cars, robots and machine learning platforms.