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.