Friday, June 24, 2005

Intel overclocks Chinese IT fund with $200m | The Register

Intel overclocks Chinese IT fund with $200m | The Register: "Intel overclocks Chinese IT fund with $200m
By Ashlee Vance in Chicago
Published Monday 13th June 2005 18:29 GMT

Like any technology giant worth its salt, Intel has put aside $200m to nurture young IT firms in China.

Handouts from the Intel Capital China Technology Fund will go to Chinese companies that fit in well with Intel's hopes and dreams. Intel plans initially to target players in the cellular, broadband and semiconductor design markets. Overall, the idea is to create a larger, more sophisticated Chinese IT market which will in turn spur demand for Intel's chips.

'Intel plans to stimulate local technological innovation and the continued growth of China's IT industry,' said Intel CEO Paul Otellini. 'We will invest in Chinese companies to accelerate technology adoption locally and to foster development of innovative technologies with potential for global distribution.'"