In his second visit to the US and first by an Indian PM to Silicon Valley in last three decades, Narendra Modi has innovation, technology, startups at the top of his agenda.
The visit is reaping significant dividends in the form of support for the government's Digital India and Make in India programmes. At the Digital India Dinner on the weekend, CEOs of tech giants such as Google, Microsoft, Adobe, Cisco and Qualcomm spoke in depth about India's role in the next generation of technological innovation.
One of the most significant announcements of the evening came from Qualcomm’s Executive Chairman Dr. Paul E. Jacobs. The company’s venture capital arm announced its support for the Government of India’s Digital India and Make in India agenda and committed to:
India’s mobile growth story so far:
Qualcomm directly invests in Indian mobile and internet start-up companies to keenly foster the local ecosystem. Portfolio companies include Portea Medical, an in-home healthcare provider, MapMyIndia, a provider of digital map, navigation, and tracking products and services, and YourStory. Portfolio companies benefit from Qualcomm’s insights on mobile technology and utilize Qualcomm’s relationships throughout the industry. Qualcomm Ventures’ India team also provides support through its comprehensive knowledge and understanding of the region.
Qualcomm has been investing in Indian startups in hardware, software platforms, e-commerce, healthcare, location-based services and retail technology since 2007. Its global portfolio includes over 20 Indian companies. The company also runs the QPrize™ competition, a global seed investment competition, and an early stage fund as a part of its efforts in encouraging early-stage entrepreneurs.
Watch this space for further updates on Prime Minister Narendra Modi’s visit to Silicon Valley.
(Disclaimer: Qualcomm Ventures is an investor in YourStory Media)