Thursday, November 8, 2012

Qualcomm Labs Unveils First Incubator Companies

Qualcomm Labs, the incubator subsidiary of Qualcomm Technologies, has announced the first set of companies funded through its new QualcommLabs@EvoNexus program today, saying that it has funded three companies with a round of seed funding. Qualcomm Labs said that Arynga, FatSkunk, and Breadcrumbs all have joined the EvoNexus incubator, and with Arynga and FatSkunk receiving $250,000 each from Qualcomm, and Breadcrumbs receiving $50,000. Arynga is developing software to help management of connected assets in transportation, travel, hospitality, and energy and consumer electronics; Fatskunk develops mobile malware software; and Breadcrumbs develops a mobile app for Android and iOs which provides an automatic timeline of a user's day. Qualcomm Labs said it considered more than 100 submissions from startup companies and entrepreneurs before accepting the three companies. The funding is significant, with $250,000 per company a much larger round that is typically provided to companies in accelerators and incubators. The three firms also are receiving up to two years of free residency at the EvoNexus incubator, either at its downtown or La Jolla offices, which is much more than the standard 3 months found through other programs.