Foxconn might spend $1 billion on start-ups

Foxconn Technology Group plans to invest as much as $1 billion in Indian start-ups during the next two years as it seeks growth beyond manufacturing, according to people familiar with the plans. It has held meetings with almost 40 businesses, including those in e-commerce and renewable energy, the people said.

Investments may include cash, technology, manufacturing or other services. "Foxconn has plans to set up an investment fund and an incubator to invest in and to engage and collaborate with technology start-ups in India," the firm said.