Qualcomm inks MoU with T-Hub for strategic collaborationQualcomm Inc today signed an MoU for a strategic collaboration with T-Hub, a start-up incubator initiated by the Telangana Government to expand the innovation ecosystem in India.
Qualcomm Inc today signed an MoU for a strategic collaboration with T-Hub, a start-up incubator initiated by the Telangana Government to expand the innovation ecosystem in India.
According to a press release, the tie-up is a follow-up to Qualcomm's commitment to invest USD 8.5 million as part of their "Qualcomm Design" in India Program announced in January 2017.
"As per the agreement, Qualcomm will utilise this association to expand its Innovation Lab's ecosystem in the country by providing access to design, development, and testing facilities at Hyderabad, while T-Hub will provide mentorship and logistics support from in-house experts for start-ups focused on innovation around financial technologies and Smart Cities," it said.
Jim Cathey, senior vice president and president, Asia Pacific and India, Qualcomm International, Inc said, "We stand committed to enabling the partner ecosystem in India in new areas of technology. Our collaboration with T-Hub, will help us scale rapidly, utilising their infrastructure and resources and bring path-breaking innovations to India."
Commenting on the collaboration, Jay Krishnan, CEO of T-Hub, said, "We are extremely pleased to work with Qualcomm, a global leader in innovation, to support the expansion of their initiatives in India. The start-ups enlisted for this collaborative program offer creative solutions for helping India advance on a technological front in critical sectors like rural development, healthcare and digital payments. We are privileged to house them and provide the best mentorship opportunities to translate their ideas into reality."