Oct 24, 2019

Qualcomm is launching $200M fund to back companies building out 5G

Ina Fried

Qualcomm CEO Steve Mollenkopf speaking at a business roundtable. Photo: Jim Watson/AFP via Getty Images

Qualcomm's venture arm today announced plans for a $200 million fund aimed at backing companies with the technology needed to build out or take advantage of next generation 5G cellular networks.

Why it matters: Companies with a stake in 5G technology — such as Qualcomm — are eager to tout its great potential. However, achieving that potential will require lots more investment — first in the networks and their accompanying gear, and then in apps and services.

The global effort will look at companies with interesting 5G use cases, those helping bring 5G to businesses as well as those helping transform the networks themselves.

What they're saying: Qualcomm CEO Steve Mollenkopf said in a statement...

"The intent of this fund is to fuel innovative 5G businesses that will be poised to take advantage of the $13.2 trillion economic benefit that 5G will enable by 2035.”

Yes, but: For all the hype, 5G networks have been slow to reach consumers, with most of the U.S. networks launched this year covering only small parts of a few cities.

Go deeper: Axios' special report on 5G

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Qualcomm is launching $200M fund to back companies building out 5G

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