Infosys has announced the formation of USD 250 million (INR 1,550 Crore) ‘Innovate in India Fund’ from its recently expanded Innovation Fund. This fund announced by the CEO of the compay Vishal Sikka will be devoted for investments in promising new Indian companies that will be inducted into the global ecosystem of strategic partners that Infosys is building. The announcement was made after the meeting of Vishal Sikka and Indian Prime Minister Narendra Modi.
Speaking about this fund, Sikka commented, “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 ashelp 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. That’s why, we look forward to working with innovative companies to strengthenour collective potential and also accelerate the success of the Prime Minister’s ‘Digital India’ mission aimed at helping people gain benefits from the latest in information technology.”
The company also specified that it has expanded the fund in order to accelerate the worldwide ecosystem of innovation. This fund will be invested in young companies, which are working for next generation innovative technologies.