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Article: Qualcomm Officials Announce Intent to Invest $500 Million in Startups.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 17, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nov. 17--Officials with telecommunications giant Qualcomm said Tuesday that the company will invest $500 million in startup companies over the next four years.
The investments ---- which company officials said would average around $10 million apiece ---- will be distributed by Qualcomm Ventures to companies in the wireless technology industry.
The investment fund will be managed by Jeff Jacobs, senior vice president of business development for Qualcomm. Jacobs (son of Qualcomm founder and chief executive Irwin Jacobs) is responsible for Qualcomm's investments, partnerships and new business ventures.
Qualcomm Ventures will target investments in ...