Infosys co-founders, S.D Shibulal and Kris Gopalakrishnan, launched ‘Axilor Ventures’, a business incubator and platform for supporting innovation and entrepreneurship.
The founding team of ‘Axilor Ventures’ includes Shibulal and Gopalakrishnan along with Srinath Batni, Prof. Tarun Khanna and Ganapathy Venugopal, the company said in a statement. For the selected start-ups, the founders will co-invest through their individual funds. The quantum of investment will range from Rs 30 lakh ($50,000) in the accelerator programme to Rs 6 crore ($1 million) for early stage companies, it said.
Ganapathy Venugopal, former head of Strategy & Planning at Infosys, has been appointed as the Chief Executive Officer at ‘Axilor Ventures’ and will spearhead the venture. ‘Axilor Ventures’ is a business incubator set up to improve the odds of success of entrepreneurs and early stage companies. It aims at energising the start-up ecosystem in the country by incubating ventures operating in the e-commerce, healthcare, life-sciences, sustainability and clean technology space, the statement said.