ZTE USA today announced its Innovation Venture Fund at the 2015 Consumer Electronics Show (CES 2015).
The new venture fund will invest in innovative mobile applications and content that target the North American market.
The Chinese device vendor did not announce the size of the venture fund.
Lixin Cheng, chairman and CEO of ZTE USA, said: “We see the potential within developers that can change the wireless market for the better if given the right support and financial resources.”
Besides equity or financing, ZTE will offer strategic partnership opportunities to jointly innovate with their teams. These startups can also benefit from millions of ZTE smartphones.
ZTE Innovation Venture Fund is funding Azumio, the creator of Fitness Buddy, a top weight-training and fitness application. Azumio is pioneering ways in which biofeedback can be used within mobile health applications for happier, healthier living.
Jeff Yee, who created the first developer ecosystem for mobile commerce applications while at AT&T, will lead the ZTE Innovation Venture Fund.
Along with Jeff Yee, executive committee members, Lixin Cheng, chairman and CEO of ZTE USA and George Zhengzhi Hou, VP, ZTE Mobile Devices & Mobile Internet, will help direct investments for the ZTE Innovation Venture Fund.