EvoNexus on July 15 announced today the launch of its new 5G incubator program, in collaboration with Qualcomm as a sponsor, to assist early-stage companies helping to build the wireless 5G ecosystem.
Qualcomm and EvoNexus note the organizations have a 10-year history of collaboration and success in supporting early stage ventures impacting the wireless ecosystem.
"5G will drive transformation across industries, fueling a new era of innovation. Qualcomm companies are developing innovative solutions across the entire 5G value chain and are committed to support the roll-out and adoption of 5G," commented Brian Modoff, executive vice president, Strategy, M&A and Ventures, Qualcomm Inc.
As a long-time partner, Qualcomm has directly invested in EvoNexus portfolio companies and completed acquisitions of two of them.
Qualcomm's Modoff added, "5G is poised to produce $13.2 trillion in economic value by 2035, and we want to ensure that the full potential of 5G is met. Through our EvoNexus sponsorship, we will be supporting early-stage ventures developing new use cases that leverage 5G's unique capabilities."
In the collaborative effort, EvoNexus will capitalize on its rigorous and proven incubation program to attract and develop early stage ventures that accelerate and leverage 5G and AI technologies, regardless of their location.
"5G is a foundational wireless technology that will significantly impact mobile devices, automotive, healthcare, computing, and more," noted Dr. Jim Cable, CTO, EvoNexus. "5G will present endless opportunities for companies to create new products and services. With its incubator program, track record and experience, EvoNexus provides startups with a jump-start to launch and scale their plans. Whether it's 5G or beyond, EvoNexus is the fastest way to launch a startup."
EvoNexus is a non-profit technology startup incubator based in California with locations in San Diego, Orange County, Silicon Valley, and a virtual program. Since the incubator's formation in 2010, EvoNexus has successfully launched close to 230 technology startups with a survival rate of over 85%.
"EvoNexus enables motivated entrepreneurs to turn their transformative ideas into fundable, commercially viable companies," said Rory Moore, CEO and Co-Founder, EvoNexus. "We are honored to have Qualcomm's involvement with this 5G initiative, which will attract numerous entrepreneurs aiming to leverage 5G and AI."
EvoNexus notes its ventures have secured over $2 billion in venture funding and outcomes, $6 billion in pre-exit valuation and 28 acquisitions. EvoNexus is supported by corporate investors, including some of the largest multinational corporations in the world.
For more information, visit www.evonexus.org.
