"We share Prime Minister Narendra Modi's vision to transform India into a digitally empowered society and  knowledge economy," Qualcomm executive chairman Paul E Jacobs  said in his remarks at a dinner hosted in honour of Modi.   

"We are committed to providing local innovative start-ups with the support needed to help India's IOE (Internet of  Everything) ecosystem grow, increasing consumer choice and availability," Jacobs said as he announced a USD 150 fund to  boost start-ups in India.  Qualcomm, he said, has been investing in promising Indian  start-ups since 2007 and there are more than 20 Indian  companies as part of its global portfolio.    

Sectors of investment vary across the mobile ecosystem and include hardware, software platforms, e-commerce,healthcare, location based services and retail technology.  Initiatives such as the QPrize competition, a global seed     investment competition, as well as an early stage fund, are part of the team's efforts in encouraging early stage entrepreneurs.

"Since Qualcomm's first India investment in 2007 and with  full-fledged presence starting in early 2008, we continue to invest broadly to strengthen India's overall economy," said  Nagraj Kashyap, senior vice president of Qualcomm in a statement.  "We are committed to providing these companies with the support needed to help propel them forward in the competitive  Indian region. We're excited about the new prospects in India  and look forward to growing our portfolio," he said.    

Qualcomm has been playing a key role driving India's wireless revolution by making mobile communicationsincreasingly accessible and affordable.   

For over two decades, it has been helping the country's mobile ecosystem achieve ongoing success and growth through  its work with operators, OEM/ODMs, software developers, sales/distribution partners, governmental entities, academic  institutions and standards organizations, among others.