Infosys has been focusing on IP-related products, products and platforms in an effort to revive the lost glory of the once IT bellwether.
Country's IT bellwether Infosys Ltd has decided to expand its global innovation fund for startups working in the field of technology to $500 million from the original $100 million, according to a VCCircle report.
The report further states that Infosys will use the funds to invest in young tech companies around the world innovating in areas such as artificial intelligence (AI), automation, Internet of Things or IoT, collaboration and design.
The firm had announced in April 2013 that it is planning to float a $100 million innovation fund for the startup community to focus on ideas, products and platforms. However, it has not publicly announced any investments as part of this fund yet.
According to the sources, Infosys has been focusing on IP-related products, products and platforms in an effort to revive the lost glory of the once IT bellwether.
In August last year, Vishal Sikka, who took over as the first non-founder CEO of Infosys, said, "We must uickly augment this by going after software opportunities with clients -- to create next-generation, intelligent solutions. We will work with the startup community --amplifying their reach and accelerating their road maps -- to achieve this."
"We want to work to be a great amplifier for startups here in India and also in other parts of the world (Silicon Valley, US) and to focus on improving not only learnability and learning, but also our abilities," Sikka said.
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