EvoNexus partners with Qualcomm to deploy 5G Incubator program

By Akshay Kedari  Date: 2020-07-17

EvoNexus partners with Qualcomm to deploy 5G Incubator program

California-based technology startup incubator, EvoNexus has recently partnered with Qualcomm to launch its 5G incubator program. Reportedly, Qualcomm would function as a sponsor of this initiative to assist budding startups to build their 5G wireless ecosystem. This would help strengthen EvoNexus and Qualcomm’s 10-year old relation of supporting early-stage businesses that are advancing the wireless landscape.

Being a long-time partner of EvoNexus, Qualcomm has directly invested in the incubator’s portfolio firms as well as finalized two acquisitions. As for EvoNexus, it would capitalize on its proven and rigorous incubation model to develop and attract budding ventures that leverage and accelerate AI and 5G.

Speaking on the move, Brian Modoff, M&A and Ventures’ Executive Vice President, Qualcomm Inc., said that 5G would propel transformation across industry verticals while giving rise to a new era of innovation. Qualcomm firms are producing innovative 5G solutions and are determined to support the adoption and launch of 5G all over the world.

5G is predicted to generate $13.2 trillion in economic value within 2035 and Qualcomm wants to ensure that 5G’s complete potential is utilized. Along with EvoNexus sponsorship, the company would be able to support early-stage startups in creating new use cases that tap all the unique capabilities of 5G, added Modoff.

Dr. Jim Cable, CTO of EvoNexus, claims that 5G comes as a foundational wireless solution that would substantially impact automotive, mobile devices, computing, and healthcare. 5G presents infinite opportunities for firms to develop new services and products. With the help of its incubator program, these budding businesses would be able to boost their production capacities and R&D activities.

In other news, EvoNexus’ San Diego portfolio firm, Carlsmed managed to secure $2.5 million from its latest seed funding round to develop personalized implants for spinal surgery. Evidently, this funding round was led by Cove Fund II and saw active participation from Device of Tomorrow Capital and Wavemaker Three-Sixty Health, along with individual MedTech investors.

Source Credit: https://evonexus.org/evonexus-launches-5g-program-sponsored-by-qualcomm/

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Facebook ad revenue could face more brunt over Apple’s privacy changes

Facebook ad revenue could face more brunt over Apple’s privacy changes

By Akshay Kedari

After Snap Inc. failed to reach its revenue targets last week, investors are now fearing that Facebook’s ad revenue could also be severely impacted due to Apple’s privacy changes. For those unaware, Apple’s privacy updates, which w...

Mark Zuckerberg planning to rebrand Facebook to reflect metaverse focus

Mark Zuckerberg planning to rebrand Facebook to reflect metaverse focus

By Akshay Kedari

There have been many businesses that have rebranded themselves to alter their identity with time. Following the league, social networking giant Facebook is also reportedly planning to rebrand the firm with a new name. On October 28, Chief Executive ...

Formula One teams to test second-generation biofuel during 2022 season

Formula One teams to test second-generation biofuel during 2022 season

By Akshay Kedari

The leading motorsport intends to achieve net-zero carbon status by the end of this decade. F1 has ruled out switching to an all-electric powertrain such as in Formula E. With increasing significance towards green mobility, Formula One teams are...

Apple’s iPhone 13 production may take a hit due to global chip shortage

Apple’s iPhone 13 production may take a hit due to global chip shortage

By Akshay Kedari

Apple Inc. is likely to cut down production of its iPhone 13 model by approximately 10 million units on account of the global chip shortage. The American multinational technology company was previously expected to manufacture 90 million units of the ...

Israel's GoTo Global acquires German e-moped sharing platform emmy

Israel's GoTo Global acquires German e-moped sharing platform emmy

By Akshay Kedari

Israel-based multimodal vehicle sharing services provider GoTo Global Mobility Ltd. has reportedly acquired Germany’s shared e-scooter company emmy. The acquisition will allow GoTo Global to enter the German market as well as accelerate its Eur...