Qualcomm is committing millions to startups in China

There’s good news and bad news in China today for Qualcomm, the US giant that creates chipsets for smartphones, tablets, PCs and other gadgets. First off, the good: Qualcomm has announced a new $150 million fund dedicated to startups in China. The company’s Chinese portfolio includes Xiaomi, which just unveiled its new Mi 4 smartphone this week, and Dolphin Browser, which just sold a majority 51 percent share to a Chinese games company.

Qualcomm has committed up to $150 million in funding for Chinese startup companies in the mobile technology R&D field. Announced on Thursday, the US-based chip maker said the strategic venture fund will further the development of mobile technology related to the Web, e-commerce, semiconductors, education and health. The most recent investments have been made in Chinese mobile education startup Cambridge Wowo and mobile healthcare firm Boohee. The chip maker has been investing in Chinese companies for over 10 years, and some previous successful investments have been made in companies including Enorbus — acquired by Walt Disney Co. — Aicent, Thundersoft and Dolphin Browser. However, Qualcomm says that it sees China as a “strong player in the semiconductor industry,” and wishes to increase investment in this area in particular.