Intel also spends $16M on IoT and $13M on angel fund
WASHINGTON – At the Intel Developer Forum last week, the company announced plans to spend $24 million on a mass-market accelerator program in China.
Intel claims the program is designed to allow Chinese innovators and entrepreneurs to more easily access Intel technologies and find a global market for their products. In addition to their mass-market accelerator program, Intel plans to spend about $13 million on an angel foundation, which will seek to connect investors with tech startups across China.
Intel has banked heavily on the development of China’s technology sector. The event, held in Shenzhen, China, commemorated the company’s 30 years of operation in China.
Intel recently reiterated its commitment to the development of a domestic Chinese operating system.
“We have, and continue to collaborate on, indigenous platforms,” said Doug Fisher, Intel’s software and services group VP and GM. “We have thousands of software engineers and leadership here in China. We will work with China’s government industries to ensure that we participate in the creation of an indigenous operating environment here in China.”
In addition to its mass-market accelerator program and angel foundation, Intel’s corporate finance division, Intel Capital, has announced it will invest $16 million to set up a fund to hasten China’s development of smart devices and “Internet of Things” technologies.
Intel CEO Brian Kzaich said in his keynote that Intel will continue its long-standing partnership with China.
“The local and global impact of our 50 years of Moore’s Law innovation and 30 years of strong collaboration and winning together in China is unmatched,” Kzaich said. “Intel remains focused on delivering leadership products and technologies in traditional areas of computing, while also investing in new areas and entrepreneurs, students, makers and developers, to find and fuel future generations of innovation with China.”
