Qualcomm to expand R&D centers, support start-ups in India
What's the story
Qualcomm, a leading US-based chipmaker, is increasing its investment in India. The company plans to invest heavily in research and development (R&D) as well as start-ups. This move comes as part of Qualcomm's strategy to diversify its business beyond smartphones. Akash Palkhiwala, CFO and COO of Qualcomm, told Moneycontrol that the company will expand resources across its four R&D centers in India.
Start-up support
Investment and engineering support for start-ups
Qualcomm is actively scouting and funding Indian start-ups through its venture capital arm, Qualcomm Ventures. The company not only provides financial backing but also engineering support to ensure their success. Palkhiwala emphasized this approach by saying, "When we invest, we don't just put money in—we also provide engineering support." He added that the goal is to make the company successful with this model of investment.
Global contribution
Role of Indian R&D centers in global projects
Qualcomm's four R&D centers in India play a major role in its global projects. Palkhiwala said, "We've grown very, very significantly in India over the last 20 years." He added that the company wants engineering close to customers here because of their strong customer base and incredible talent pool. This strategy is part of Qualcomm's larger plan to tap into different skill sets available in India as it continues to grow.
Investment strategy
Technology-first approach to investment
Palkhiwala explained Qualcomm's global investment strategy by saying, "Think about Qualcomm as a very technology-first company." He said the company first decides what technology investments are needed to transform and shape the future. Then it decides where to invest in order to make those things happen. Palkhiwala said India will continue to be a key market for Qualcomm. He called it one of the fastest-growing markets due to its rapid transformation.