Start-ups Get Rs 1,500-cr Leg Up to Innovate, Courtesy Infosys

Published: 15th January 2015 06:00 AM  |   Last Updated: 15th January 2015 06:00 AM   |  A+A-


BENGALURU: Software exporter Infosys announced the creation of a $250 million (Rs 1,500 crore)  ‘Innovate in India’ fund in software and services from its recently expanded innovation fund.

Vishal Sikka, Chief Executive officer (CEO) of the Bengaluru-headquartered company met with Prime Minister Narendra Modi to discuss ways in which the company could take part in the smart city and digital India projects.

“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,” Sikka said in a statement. Infosys has recently increased their innovation fund from $100 million to $500 million.

The company will also develop a software for managing the Kumbh Mela to held in Ujjain (Madhya Pradesh) in 2016, agencies quoted Sikka as saying. Sikka said that the Mysore campus is a mini city in itself - spread over 350 acres, with 12 million sqft built-up area and the capacity to host more than 15,000 trainees (residing on campus), 8,000 odd employees and several thousand contract workers. “Under this initiative, Infosys will strive towards making its Mysore campus a ‘Smart City’ through effective planning to ensure efficient resource governance and utilisation,” he said in a statement. 

Announcing to make Mysore a ‘smart city’, he said that the Prime Minister had the company’s invitation to the Mysore campus and dedicate it to the nation in April.

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