Infosys announces Rs. 1550cr innovation fund for Indian startups

NEW DELHI, INDIA: Infosys will create of a $250 million (Rs. 1,550 Crore) 'Innovate in India Fund’ from its recently expanded Innovation Fund. Dr. Vishal Sikka, CEO and MD in a meeting with PM Narendra Modi, in New Delhi said that the fund will be dedicated for investments in promising new Indian companies that will be inducted into the global ecosystem of strategic partners that Infosys is building.

Infosys stated last week that it has expanded its Innovation Fund to $500 million to accelerate the creation of its worldwide ecosystem of innovation. The Fund will be used to invest in young companies innovating in next-generation solutions and technologies such as Artificial Intelligence (AI), automation, pervasive connectedness as well as collaboration and design technologies.

Dr. Sikka said, “Start-ups represent the vision, the hope and the persevering entrepreneurial spirit taking root in India. With the ‘Innovate in India Fund’, Infosys will invest in great Indian start-ups, help amplify their engineering and operations, as well as help bring their innovations to market at scale. Next-generation solutions built on emerging computing technologies, in innovative new ways, can dramatically reshape and improve the world around us.”