Bengaluru, March 11 -- Chipmaker Qualcomm's venture capital arm is looking to back Indian startups building artificial intelligence (AI) technologies affordable enough to scale globally through its new $150 million India-focused fund, according to a top executive at the firm.

With its second India-focused fund, Qualcomm Ventures is looking for founders who are reducing the cost of deploying AI applications, an area where the firm believes Indian startups have a natural advantage.

"Looking at the Indian startup ecosystem, companies here are in the unique position to make AI affordable globally," Rama Bethmangalkar, managing director at Qualcomm Ventures India, told Mint. "With the population and purchasing power that the country has, com...