Intel launches $100 million fund in China to accelerate innovation

Intel has launched a $100 million fund in China to accelerate innovation of smart devices, as it seeks to spur development of newfangled products using its chips. Speaking at the Intel Developer Forum in Shenzhen on Wednesday, CEO Brian Krzanich announced the establishment of an Intel Smart Device Innovation Center there and a $100 million Intel Capital China Smart Device Innovation Fund.

As devices powered by ARM chips flood the Chinese market, Intel is hoping to popularize its own mobile processors with a new center built in the heart of one of China’s major technology hubs. The new innovation center, announced on Wednesday, will be based in Shenzhen and focus on helping Chinese hardware vendors build PCs and mobile devices around Intel chips. Shenzhen is home to many of the nation’s tech companies and manufacturers, and has become a key segment in both the Chinese and global supply chain. Along with the new center, Intel plans to spend US$100 million through its venture capital arm to fund local Chinese product development in the areas of convertible laptops, tablets, smartphones and wearables.