Categories: Tech & Society

Infosys Plans $100M Innovation Fund for New Ideas, Spin-outs

According to its CEO and managing director SD Shibulal, India-based software major Infosys Ltd is planning an innovation fund to the tune of $100 million in order to focus on new ideas, products and platforms.

The new fund aims to promote new ideas not only within the company but also aims to fund innovations coming from outside the organisation.

“We have many employees having innovative ideas working for us, but these ideas cannot be expanded on the premise. So we have decided to pick these ideas, invest in them to develop them and spin them off,” Shibulal told reporters at a Press conference in Bangalore after announcing the quarterly results.

Infosys as not shared any formal plans as to how the investment will work and what is its structure. This is not the first time that Infosys is announcing such funds. In fact, Infosys already had a few successful spin-outs such as the VAS firm OnMobile and Boston-based Yantra Corp, a management solutions company which was acquired by SBC Communications for $170 million.

Prateek Panda

Prateek is the Founder of TheTechPanda. He's passionate about technology startups and entrepreneurship and enjoys speaking to new founders every day. Prateek has also been consistently regarded as one of the top marketing experts in the region.

Recent Posts

All our eggs in one cloud: When AWS sneezed & the Internet caught a cold

The recent service outage that Amazon Web Services (AWS) experienced in the US brought several…

2 days ago

Can AI help manage the new threat to our environment caused by AI?

Can we make data centers smart and green? Warning about AI’s electricity consumption speed was…

3 days ago

New tech on the block: Fintech, crypto, cleantech, blockchain & cybersecurity

The Tech Panda takes a look at recent tech launches. Fintech: ICICI Bank & Visa…

6 days ago

Binance’s comeback: what the October 10 crash reveals about centralized exchange risks

Without further preamble, my position is simple: CEXs don’t just parasitize cryptocurrencies, tokens, and other crypto…

1 week ago

Geek Appeal: New gadgets & apps on the block

The Tech Panda takes a look at recently launched gadgets & apps in the market.…

3 weeks ago