Infosys creates US$10m fund for Irish start-ups

3 Jul 2015

Indian IT and consulting giant Infosys has set aside US$10m to invest in Irish start-ups focused on disruptive technologies.

Technology giant Infosys has set aside US$10m from its global Innovation Fund for Ireland-based start-ups, the company has revealed .

Infosys is an Indian business and technology consulting giant headquartered in Bangalore with annual revenues of more than US$8bn. It is India’s sixth-largest publicly traded company with a market cap of more than US$42bn.

The company has established a strategic partnership with AIB as a springboard to expand its services in the Irish market. As a strategic partner to AIB, Infosys will provide application development and management, and transformation and innovation services.

Infosys will also set up a 200-seat facility in Dublin to house the staff who will be transferring from AIB, as well as any additional staff who will be appointed locally, following recent agreements that Infosys has signed in the region.

Earlier this year Infosys created a US$500m Innovation Fund for investments in the growth of disruptive new technologies.

The company said it is keen to continue sharing its expertise to assist start-ups that are enabling disruptive new technologies.

“Our investment in the Irish start-up community reflects our belief that Ireland is a strong and vibrant nation, home to entrepreneurs who share our vision of technology as a way to drive growth,” said Mohit Joshi, global head of financial services at Infosys.

Infosys image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years