Intel invests $50 million
Intel has established a $50 million venture capital fund to invest in technology companies developing innovative hardware, software and services in the Middle East and Turkey.
has established a $50 million venture capital fund to invest in technology companies developing innovative hardware, software and services in the Middle East and
.
The announcement of the fund by Intel Chairman Craig Barrett in
“The $50 million Intel Capital Middle East and Turkey Fund will help stimulate technological innovation and the continued growth of the IT industry in this emerging region,” said Arvind Sodhani, President of Intel Capital, Intel’s venture investment program. “We will invest in companies to accelerate technology adoption locally and foster development of unique and innovative technologies and content with potential for regional distribution.
“Intel Capital has been working in the region for some time and sees a strong demand for technology in broadband and mobile services, enterprise solutions, digital health, and consumer technologies,” added Sodhani.
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