The US-based chipmaker Qualcomm Incorporated has announced intentions to invest up to $150 million in the fast-growing Indian artificial intelligence and technology startup sector in a major step to entrench itself in one of the most dynamic technology markets in the world. Qualcomm CEO Cristiano Amon announced it on the occasion of the India AI Impact Summit in New Delhi.
Capital deployment
The new capital will be implemented by Qualcomm Ventures, the investment arm of the company, and will focus on startups of all levels of growth. In contrast to other efforts to use AI in the world, such as cloud computing, the Qualcomm strategic fund is specifically intended to develop edge AI. This is the intelligence that is executed directly on a device, that is, smartphones, PCs, cars, and industrial machines, instead of utilizing remote data centers.
Cristiano Amon pointed to the fact that AI is going through an era of transformation where it becomes a part of the system that people operate on a day-to-day basis. He observed that this movement toward on-device processing will transform whole industries, providing more intense and more secure experiences. Qualcomm considers that the ecosystem of Indian start-ups is in a unique position to spearhead such change, serving as a key hub of innovation as edge AI leads new solutions in a variety of areas.
Targeted pillars and commitment
The Strategic AI Venture Fund of $150 million will be allocated and not spread thin. It will concentrate on four pillars of high-growth technologies where Indian founders are already proving highly competitive in the world.
Funding startups that develop smart dashboards and advanced driver assistance systems (ADAS) and self-driving safety solutions. Improving connectivity in smart cities and industrial automation. Investing in the second generation of industrial machines and service robots.
Innovating in next-generation wireless and mobile-first AI applications. Through accessing its deep technology knowledge and worldwide industry, Qualcomm strives to assist companies in India to develop market-leading solutions that are prepared to be consumed nationally as well as exported.
This new commitment is a continuation of Qualcomm’s long-standing relationship with the Indian market. Since 2007, the company has been actively investing in the startup community in India and has currently supported over 40 companies. Its existing and historical portfolio consists of such giants as Jio Platforms (Digital Infrastructure and Telecom), MapmyIndia (Digital Maps and Navigation), ideaForge (Drones and UAV Technologies), Shadowfax (Logistics and Delivery), SpotDraft (AI-powered Legal Tech), and ToneTag (AI-powered Digital Payments).
Qualcomm already dominates the semiconductor and mobile technology industry of the country, having a huge workforce of over 20,000 employees in the three major Indian cities. This new fund will only further enhance that connection, which will lead to a surge of local talent that can compete in the global arena.
Conclusion
The move by Qualcomm to invest $150 million in the Indian AI future is a turning point in the journey of the country to become a global deep-tech leader. Targeting edge AI and strategic funding to the automotive and robotics industries, Qualcomm is investing in the infrastructure of the new India economy, as well as in individual businesses. This strategic fund allows Indian startups to have the resources and technical guidance to be on top of the next technological revolution as the global AI race goes beyond the cloud and onto the device.
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