Intel Corporation (NASDAQ:INTC) announced its investment in 10 innovative technology companies at its Intel Capital Global Summit this week. Intel Capital, Intel’s global investment and M&A organization, is investing approximately $40 million in these companies which are involved in a range of activities including entertainment, e-payments, mobile advertising, games and cloud services.
Examples include Bollywood and South-Asian content distributor Hungama, social radio platform Jelli, e-payment platform PagPop, mobile advertising provider UUCun, 3-D game developer Transmension, game developer LIFO Interactive and cloud services provider Tier 3. The stated purpose for these investments is that they are “Intended to help these companies grow to the next level”.
The Intel Capital Global Summit is an annual meeting that brings together Intel Capital-funded entrepreneurs and executives from market-leading Fortune 2,000 companies. In addition to presentations and expert panels, there is an emphasis on networking and laying the groundwork for business deals. In the announcement linked to above, Intel claims that there were over “1,700 targeted meetings between portfolio company CEOs and key business executives.”