Innovate in India Fund from Infosys to boost Indian start-ups
In an effort to support the thriving start-up environment globally, Infosys recently expanded its Innovation Fund from US$100 million to US$500 million. The company will invest US$250 million in Indian start-ups through the Innovate in India Fund. Infosys aims to harness the entrepreneurial spirit in India to provision young companies that develop innovative technologies on automation, Internet of Things (IoT), and artificial intelligence (AI). Start-ups that receive the funding will also be inducted into the global ecosystem of strategic partners that Infosys is building.
The Innovate in India Fund was announced by Dr. Vishal Sikka, Chief Executive Officer and Managing Director, Infosys, in a meeting with Shri. Narendra Modi, Prime Minister of India, in January 2015, at New Delhi.