India's IT giants invest in startups for Gen AI advantage
India's top IT companies—TCS, Infosys, Wipro, HCLTech, and Tech Mahindra—are teaming up with startups to take on the challenges of Generative AI.
Instead of sticking to old-school services, they're now focused on building new platforms and co-creating tech solutions in areas like AI, blockchain, and cybersecurity.
How TCS and Infosys are connecting with startups
TCS has expanded its Co-Innovation Network to connect with over 3,000 startups and 55 academic partners by FY25.
Infosys has grown its Innovation Network from 150 to more than 370 startups in just three years.
Wipro Ventures is backing innovation too—with a $500 million fund that's led to 38 investments and 13 successful exits.
HCLTech and Tech Mahindra are collaborating too
HCLTech and Tech Mahindra are setting up innovation labs and collaborating with startups—HCLTech does so without taking equity stakes, allowing them to get fresh ideas while staying independent.
These efforts are paying off: Wipro Ventures alone influenced over $200 million in revenue last year.
All these companies continue investing heavily in startup-driven tech for their clients.