Qualcomm: New funds available for 3G companies

Funding opportunities

The wireless and mobile data specialist Qualcomm is to invest €100 million in European companies offering developing 3G mobile products and services.

Its investment arm, Qualcomm Ventures, will put the money into small- to medium-sized enterprises and start-ups in mobile applications, platform software development, handset components and network infrastructure.

QualcommVentures will provide the companies it invests in with strategic guidance, advice in enhancing and protecting innovations, support in standardising technology, and help in getting access to global markets.

Andrew Gilbert, president, Qualcomm Europe, says, “We are actively seeking opportunities to invest in, and support, promising European companies. Not only do we recognise Europe’s significant market potential, but we believe this kind of investment and knowhow support will help to unlock the true potential of these SMEs.”

“Qualcomm is committed to providing our European portfolio companies with the financial, marketing, technology and business support to help propel innovative, early-stage companies and their breakthrough technologies forward in the competitive global market,” said Bill Keitel, chief financial officer. “We have made a number of successful acquisitions in Europe in the recent past, including Tellit UK, Trigenix and Elata.”

Keitel added that investing €100 million will give the company a broader research and development base.

The first equity investment in Europe is in Streamezzo, a provider of rich media solutions, platforms and service for mobile communications.

Qualcomm launched its venture arm in the US in November 2000 with an initial US$500 million. The fund later extended its activities in Korea, Japan and China.