Qualcomm to invest $1.8 million in Korea

By Kim Yoo-chul

Qualcomm Ventures, the venture capital arm of San Diego-based Qualcomm, has decided to invest 2 billion won or some $1.8 million in Intela, a local telecom software developer.

Qualcomm Ventures was established in December 2000 in the United States with an initial capital of $500 million and it has since been investing in new startups in a bid to vitalize eco-systems in telecommunications industries.

Intela is the third Korean firm that’s received financial support from Qualcomm after Kiwiple, an application developer for smartphones and Pulsus Technologies.

Intela is a developer of algorithms for use in telecommunications. It provides digital solutions which are essential for exterior and interior wireless telecommunications systems in buildings.

Wireless chip giant Qualcomm formed an alliance with SoftBank of Japan and My Ventures Technologies for its latest strategic investment, said Kim Seung-soo, the head of Qualcomm’s public relations office in Korea, Wednesday.

Qualcomm expects the investment will partly help it develop advanced wireless solutions for possible use in the long-term evolution (LTE) and other LTE-backup technologies.

The company will formally invite several Intela executives to its own ``Qualcomm Ventures CEO Summit’’ in Germany next month, the firm said in a statement.

It also said the company will expand its support programs and further strengthen group-wide charity initiatives in South Korea.

Qualcomm has close business partnerships with Korea’s technology giants including Samsung Electronics, LG Electronics and even Pantech as the U.S. company holds key patents in wireless technologies.