Lenovo is planning to invest in technology start up fund
Beijing:
Lenovo, a China based
world’s leading personal computer maker is planning to invest in technology
based start-ups across the globe. The company has set aside a corpus of around
US$ 500 million for such investments in the upcoming few years.
Lenovo’s Vice President Mr. He Zhiqiang,
said that company’s subsidiary named The
Fund Lenovo Capital will be the entity investing in the technology based
start-ups. Further, the company is planning to invest in Artificial
Intelligence (AI), cloud computing and robotics, he added.
Lenovo had already invested around US$ 100
million in more than 30 companies involved in mobile games, security and smart
home devices across the globe over the past few years.
TechSci Research depicts that such initiatives
taken by the company would provide significant support to the new technology
start-up companies.
According
to TechSci Research report, “India Cloud Computing Market Forecast and Opportunities, 2020 By Type (Private, Public and
Hybrid), By Region”, according to which market for cloud computing in India is
estimated to witness growth at a CAGR of over 22% during 2015-20, SaaS
accounted the largest revenue share in the overall cloud computing market in
India in 2014. With increasing government spending on National Optical Fibre
Network (NOFN) and various e-governance portals, coupled with growing
acceptance of cloud services in SME segment is expected to drive the market for
cloud computing.