Intel launches $50M VC fund for Middle East

Intel has established a venture capital fund to invest in tech companies based in the Middle East and Turkey. Intel plans to invest in startups that focus on the development of broadband infrastructure and mobile wireless solutions that use WiMax technology, as well as local content developers and providers. The company said demand is growing in the area for mobile and broadband services, enterprise solutions, digital health and consumer technologies. Intel pointed to that demand and an increase in entrepreneurial activity in the area as catalysts for the establishment of the fund.

For more on Intel's VC fund for the Middle East and Turkey:
- see this piece from Electronic News