Bangalore (PTI): Infosys has invested in the future of Australia's IT services industry, committing up to AUD$1.9M in cash and services to the newly formed Smart Services Cooperative Research Centre (CRC).

The programme, launched on July 3, by Senator the Hon. Kim Carr, Minister for Innovation, Industry, Science and Research, will bring together the best technology minds from industry, six Australian universities and Government to develop an ambitious R and D programme aimed at creating intellectual property (IP) of value to Australia's services market - with initial demonstrators planned for the finance, media and government sectors.

Over the course of the programme, this IP will be engineered and commercialised by CRC participants resulting in new technology products and services that will increase the competitiveness of Australia's IT industry and make the services market more innovative, Infosys said in a release here today.

As the only global IT services company involved with the programme, Infosys is spearheading the Smart Service CRC from a technology perspective alongside SAP, with industry heavyweights including Telstra, Fairfax Digital and Suncorp-Metway actively involved in setting the research agenda. World-class researchers from around the country will also contribute to the R and D and IP creation.

"Innovation is imperative for growth and with Australia an emerging market on the global IT stage, we are pleased to be contributing to the development of the industry in such a significant way," said Gary Ebeyan, Chief Executive Officer of Infosys Australia.