Qualcomm Teaming with EvoNexus on 5G Technology Incubator

SAN DIEGO, Nov. 9, 2022 /PRNewswire/ -- EvoNexus is California's premier non-profit technology incubator, located in San Diego. Qualcomm Incorporated works closely with EvoNexus to identify early-stage companies bridging emerging technologies and use cases with the compelling attributes of the 5G network. Qualcomm in collaboration with EvoNexus, is initiating another search for startups impacting 5G. Applications will be reviewed beginning November 9th with admissions to the program on a rolling basis.

In 2021, EvoNexus portfolio companies raised over $530M and had greater than $1B across 7 exits. Founded in 2010, 41 portfolio companies have been acquired and 85% achieve venture capital funding.

Qualcomm has a deep interest in startups representing the following areas:

"Our 12-year relationship with EvoNexus has provided Qualcomm Technologies with early access to startups with potential synergy across our business units," according to Ziad Asghar, Vice President, Product Management, Qualcomm Technologies, Inc. "We are pleased to continue the 5G incubator program with EvoNexus to support transformational early-stage innovations."

"5G provides startups an opportunity to develop products and services that are significantly enhanced or fundamentally enabled," elaborates Rory Moore, CEO/Co-Founder, EvoNexus. "Startups are the catalyst for change. They embrace risk, viewing it as their protection and advantage over their more risk-averse competition. Our collaboration with Qualcomm Technologies will accelerate the time to market journey of startups developing disruptive technology in nascent sectors."

EvoNexus is California's leading non-profit technology startup incubator located in San Diego. EvoNexus has successfully launched over 250 technology startups. EvoNexus portfolio companies have secured over $3.5B in venture funding and outcomes, with $10B in pre-exit valuations.

Unique benefits of EvoNexus Incubation:

• 2-Year Residency in the San Diego Office
• Extremely Beneficial and Necessary Strategic Corporate Connections
• Only 1% Equity Common Shares granted to non-profit organization
• Over 400 VCs Investing in Our Portfolio Companies

For more information, please visit evonexus.org.

Qualcomm is the world's leading wireless technology innovator and the driving force behind the development, launch and expansion of 5G. When we connected the phone to the internet, the mobile revolution was born. Today, our foundational technologies enable the mobile ecosystem and are found in every 3G, 4G and 5G smartphone. We bring the benefits of mobile to new industries including automotive, internet of things and computing, and we are leading the way to a world where everything and everyone can communicate and interact seamlessly.

Qualcomm Incorporated includes our licensing business, QTL and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, together with its subsidiaries, covering all of our engineering, research and development functions, and all of our products and services businesses, as well as including our QCT semiconductor business.

Media Contact: rmoore@evonexus.org

View original content to download multimedia: https://www.prnewswire.com/news-releases/qualcomm-teaming-with-evonexus-on-5g-technology-incubator-301672338.html

SOURCE EvoNexus