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Investments Come to Growing Indian Tech Companies|
- By CXOtoday Staff, Apr 15, 2008 1951 hrs IST
- Tags : With a view to supporting Indian startup companies both financially and technologically, an American developer of advanced wireless technologies and data solutions has entered the Indian market. The company has made its first direct equity investment in
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Indian companies, which offer innovative technologies and services to enhance the wireless communications and semiconductor ecosystems, may benefit from the investment offer from Qualcomm. A developer of advanced wireless technologies and data solutions, Qualcomm has announced its commitment to invest in Indian startup companies in the above fields. The company s first direct equity investment in India is in Tessolve Services, a provider of solutions and platforms for semiconductor testing, packaging, qualification and failure analysis.
The company's investment strategy will focus on Indian startups and private companies, which can serve the mobile and semiconductor ecosystems in India, through innovation in some emerging sectors. The nominated sectors include: mobile application/platform software developers, semiconductor components, devices, service platforms, and network infrastructure providers.
The company is planning to actively work with its portfolio companies to provide strategic guidance, advice in enhancing and protecting their innovations, and support in standardizing their technologies. Contextually, after expanding its activities in Korea, Japan, China and Europe, Qualcomm Ventures is now expanding into India.
In the words of Kanwalinder Singh, president of Qualcomm India and South Asia,"We are pleased to announce Qualcomm Ventures'entry to the Indian market, adding to our growing business and R&D presence.By bringing our investment and expertise to Indian startups, we hope to help innovative ideas reach commercial success in the rapidly growing wireless and semiconductor space."
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