Intel on Wednesday announced the creation of a $300 million fund to support hardware and software developers in the pursuit of producing super-laptops it calls “ultrabooks”.
The $300 million Ultrabook Fund will be managed by Intel Capital, Intel’s global investment arm.
Ultrabooks are defined by Intel as devices which “marry the performance and capabilities of today’s laptops with tablet-like features.”
These Ultrabooks will be thin, light, have elegant design which can go for a day without recharging but will be sold at “mainstream” prices.
According to Intel, the Ultrabook Fund will hand out incentives in the form of financial help within three to four years to developers of technology to be used in Ultrabooks.
Intel Capital President and Intel Executive VP Arvind Sodhani said in a statement that “Ultrabook devices are poised to be an important area for innovation in the $261 billion global computer industry.”
“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.