Intel plans to launch $100m fund for smart devices

The Intel Smart Device Innovation Center in Shenzhen will be granted a $100m cash injection for investment within China.
Written by Charlie Osborne, Contributing Writer
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Intel's Gateway Solutions for the Internet of Things. Credit: Business Wire

Intel has outlined plans to launch a $100m fund to make sure its chips are used in smart devices through Chinese development.

The tech giant says that as the computing industry landscape undergoes rapid transformation, it will push forward in deepening ties in China, in order to encourage innovation and "reshape" the future of computing.

Speaking at the Intel Developer Forum in Shenzhen on Wednesday, Intel CEO Brian Krzanich said the Shenzhen technology ecosystem and Intel can re-ignite growth by focusing on "smart" devices — including wearables, Web-connected devices, the Internet of Things, hybrids, and mobile technology.

In order to promote Intel's chips in smart devices, a research and development center will be built in Shenzhen, and $100 million will be invested within the Intel Capital China Smart Device Innovation Fund.

Since 1998, Intel has investment over $670 million in 110 companies in China.

The innovation team will work with local businesses to promote the use of Intel products, including the Intel Edison research platform and the Intel Gateway Solutions for the Internet of Things, based on both Quark and Atom processors.

Intel said:

"The center will expand Intel’s work beyond tablets and provide local OEMs, ODMs, and software developers with access to Intel technology platforms and enabling support, including master reference designs for turnkey solutions, development tools, supply chain sourcing, quality management and customer support -- acting as a bridge between product conception and commercial deployment."

Intel also announced extended development of the SoFIA family, chips based on entry and value smartphones and tablets.

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