Qualcomm is one of the biggest venture investment groups that came in the market in the year of 2000. The company had the initial allocation of $500 millions. The main focus of the company is to support the 3G and wireless internet market. They are the leader in the next generation mobile technology and they have been in the system for over a decade supporting to innovations and development of wireless communication which helps to connect people with more close information. Now, in the same fashion, Qualcomm is joining hands with Microsoft to spread the same business standards and technologies in the Indian market. Microsoft is another big organization which has been providing software products and solution for over three decades now. Now, these two big giants in their respective fields are coming together to support innovation in 3G and wireless technology development.
In recent time, Qualcomm has announced that their association with Microsoft will try to identify the opportunities of investment in the startup companies which is catering to wireless technologies in India.
The actual brand name is QPrize which is Qualcomm’s second largest investment company for international ventures. It is mainly designed to promote new and energetic entrepreneurs who wants to bring innovation and new business ideas but are short of resources. The concept is all about recognizing the potential and awarding them with financial and all other resources to implement ideas and innovation. Anyone, above the age of 18 years, is an eligible candidate to get this award.
Microsoft is joining hands with the QPrize with its BizPark programs. BizPark is an international venture of Microsoft’s which is to support startup organizations and provides them complete access to all the Microsoft software development tools. The BizPark program also helps startup organizations to make connections with key industry, which includes investors. The program also helps them to create their market visibility and make their presence in the international market. Any person with potential to perform and substantial business idea can join the program where he/she can build the network with global business leaders.
The director of Qualcomm Ventures India Investment, Karthee Madasamy, told that the QPrize is aimed to provide full support to India’s mobile ecosystem development which further enables startup companies to provide solution which identifies unique needs in the Indian market.
He also told the Microsoft’s support will help to get the maximum exposure to the global investor and it will bring more performance driven ideas for the program.
This news is a boon for all the startup organizations in India who are currently underperforming with so many factors like lack of resources, lack of global marketing , financial stability etc. The venture can lift the moral of new age entrepreneurs by providing them all the resources they require to implement their ideas.