Infy earmarks half its $500-mn Innovation Fund for Indian startups

Company's Mysore campus to be developed as smart campus, Infy CEO tells PM Modi

In line with Chief Executive Vishal Sikka's earlier comments about dedicating a part of the company's recently set-up Innovation Fund for India, information technology giant Infosys on Wednesday said it had set aside $250 million (Rs 1,550 crore) of the $500 million corpus to fuel innovation in the country. Sikka conveyed this in a meeting with Prime Minister Narendra Modi and said the money would go for investments in “promising new Indian companies that will be inducted into the global ecosystem of strategic partners that Infosys is building”. Sikka, who took over his present role in August last year, has time and again stressed on the company's intent to invest in innovative start-ups. In line with this, the Bengaluru-based company had earlier this month increased its allocation towards the Innovation Fund to $500 million from $100 million earlier. The company has said the money will be used for investment in companies which build solutions around artificial intelligence, automation, pervasive connectedness, collaboration and design technologies.

“Start-ups represent the vision, the hope and the persevering entrepreneurial spirit taking root in India,” Sikka said on Wednesday. “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 strengthen our 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.”

Additionally, Infosys said it was committed to developing its campus at Mysuru (earlier Mysore) as a 'smart city'. And, would also provide expertise in smart infrastructure planning and sustainable building technology to the Union ministry of urban development. Under this initiative, Infosys plans to ensure efficient resource governance and utilisation at the Mysuru campus and make it the first to achieve 'zero waste to landfill' sustainability.