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EvoNexus Incubates 5G Startups with Qualcomm

By Greg Tavarez

Technology startups are catalysts for change. They embrace risk, solve problems with innovative thinking and stimulate the economy by creating jobs. There are times, though, when they need a little push to bring their innovative ideas to the forefront.

EvoNexus, a nonprofit technology startup incubator, provides that push by fostering a path from ideation to minimum viable product and long-term sustainability. Qualcomm works closely with EvoNexus to identify early-stage companies bridging emerging technologies and use cases with 5G network attributes and is in the middle of a search for startups impacting 5G to join EvoNexus Incubation.

"EvoNexus provides Qualcomm with early access to startups with potential synergy across our business units," said Ziad Asghar, vice president, product management, Qualcomm. "We are pleased to continue the 5G incubator program with EvoNexus to support transformational early-stage innovations."

Startups that join the program, with up to two years of rent-free residency in incubation, receive mentorship from domain experts and a wide-spanning strategic and corporate network. They work alongside like-minded individuals and meet integral partners within the EvoNexus co-working office.

For example, startups lead monthly check-ins with their EvoNexus portfolio manager and mentors to describe their progress, problems and plans. From there, objectives are refined for each startup. Startups in the incubation program also increase their brand recognition. Investors and strategic partners recognize the EvoNexus logo and understand the process those startups go through.

"Our collaboration with Qualcomm accelerates the time-to-market journey of startups developing disruptive technology in nascent sectors," said Rory Moore, CEO and co-founder of EvoNexus.

With this program, startups impacting 5G are given an opportunity to join the 85% of EvoNexus portfolio companies that received venture funding from over 400 investors is secured by 85% of EvoNexus portfolio companies.

Edited by Erik Linask

SmartCity Editor

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