With the objective of mentoring Indian startups and bringing their products to the market, Microsoft Accelerator and Tata Consultancy Service’s Co-Innovation Network has decided to create an open innovation framework.
This partnership will necessarily provide startups with access to the Microsoft and TCS networks and customer relationships. It will also connect them to investors and academia.
Nagaraj Ijari, Global Head – Hi-Tech Industry Solutions Unit, TCS, said, “This partnership will offer participating startups access to the expertise and client base of both TCS and Microsoft and will create exciting new opportunities to innovate and transform the business landscape.”
Deviating from the common and most taken path of creating a venture fund to invest in startups, which its rivals Infosys and Wipro have resorted to, Tata Consultancy Service is using its Co-Innovation Network, COIN, to work with startups.
The network is part of TCS’ innovation labs and involves tie-ups with venture capital firms and university research labs.
In the US, TCS COIN program has alliances with venture firms such as Andreessen Horowitz, New Enterprise Associates and Norwest Venture Partners.
