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.
In the last decade, purchasing and accessing products and services have undergone a radical transformation.…
In an exceptional achievement, Mumbai-based high school robotics team Sigma 9692 has won the prestigious…
The Indian gaming industry is sitting on an industry explosion in the near future as…
In today's fast-paced business world, when employee fulfillment and efficiency are crucial, technology has become…
The Tech Panda takes a look at how India has been attracting foreign businesses from…
India’s digital payments ecosystem achieved a record high in March, with UPI transactions reaching INR24.77…
