Chip maker Intel has started a $300 million fund to fuel development of Ultrabook laptop computers which promise to fuse laptop computers with tablet devices.
The Ultrabook Fund, started by Intel’s investment arm Intel Capital, will invest in companies that are building hardware and software for Ultrabooks that will result in a longer battery life, sleek and lightweight design and enhanced storage capabilities.
Intel is hoping that Ultrabooks will be able to bring tablet like capabilities to personal computing devices, by bringing a sleek design and performance enhancement like battery life that could last for days.
The company provides processors for 80 percent of the world’s PCs, a market which has taken a beating due to the rise of tablet PC devices.
Intel said that it will be investing the $300 million in the development of Ultrabooks over a period of 3-4 years.
“Ultrabook devices are poised to be an important area for innovation in the $261 billion global computer industry,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president.
“The Intel Capital Ultrabook fund will focus on investing in companies building technologies that will help revolutionize the computing experience and morph today’s mobile computers into the next ‘must have’ device.” he added.