Qualcomm says it will invest 100 million euros in European companies offering innovative technologies and services for mobile communications. It will focus on startups and smaller companies. Its first investment is in Streamezzo which produces software to enable rich media applications on mobile phones.
Qualcomm Ventures will focus on European companies that support the 3G mobile market, including application and platform software developers, handset components, network infrastructure and core technology providers.
“Qualcomm is serious about being a partner to the European wireless market,” said Andrew Gilbert, president of Qualcomm Europe. “We are actively seeking opportunities to invest in and support promising European companies. The significant resources we are allocating demonstrate our commitment to fostering this vibrant innovation culture and to continue working within the European market.”
Its first investment provides further funding for Streamezzo, a company based in Paris which provides rich media tools for mobile phone applications.
“Qualcomm Ventures selected Streamezzo as its first direct equity investment in Europe because of the company’s exceptional value proposition and business prospects in the emerging market of rich media application for mobile,” said Frédéric Rombaut, head of Qualcomm Ventures in Europe. “Streamezzo’s standardized technology stands out for its ability to enable fully-customizable and interactive rich media services.”
Steamezzo is a spin-off from the research and development laboratories of France Telecom. its Rich Media Software Suite has been certified as interoperable for mobile TV applications on more than one hundred devices.