Infosys has boosted their start-up funds to $500 million (about Rs 3000cr) for investing in Silicon Valley, Israel and India along with other venture capital firms. Vishal Sikka, CEO of Infosys has earmarked one-third of this venture funds for startups along with investments in around 12-15 venture capital funds from all over the world. As per insiders, there’s no specific startup or venture capital funds which they are targeting, but they are simply looking for some ideas which are disruptive and unique.
The company made its first startup investment last month, sinking about $15million in a firm spun off from Dream-Works Animation. Infosys also bought US and Israel based automation startup Panaya in a deal estimated to be about Rs 1200cr ($200 million).
India’s biggest software companies are rushing to change their revert mix as top customers including Daimer and Wal-Mart push them for more innovative solutions. These companies are hoping to find the next disruptive idea by tapping into the world of startups.
Some of the other startup funds and initially actively seeking disruptive ideas and revolutionary concept in India:
>StartWallah backed by 500 startups has resumed their Indian operations with Rs 120cr funds for startups
>India accelerator program launched by Target from USA have invested in 2 startups as of now
> SEBI has altered rules and laws to help startups launch their IPOs
> Facebook made their first Indian acquisition and can invest a few more in coming days