Infosys co-founders float new venture

In its initial launch stage Axilor will run three programmes — accelerator, entrepreneur-in-residence and early stage funding program.

Infosys co-founders Kris Gopalakrishnan and S. D. Shibulal have joined hands once again to set up business incubator Axilor Ventures to nurture entrepreneurs and early-stage companies.

“Axilor aims at energizing the start-up ecosystem in the country by incubating ventures operating in the e-commerce, healthcare, life sciences, sustainability and clean technology space. Axilor will focus on scalable, disruptive and technology-led business ideas from budding entrepreneurs and experienced professionals with entrepreneurial aspirations,” an official statement from the company says.

According to the statement, in its initial launch stage Axilor will run three programmes — accelerator, entrepreneur-in-residence and early stage funding program.

Besides helping entrepreneurs and early-stage companies with funding, Axilor will assist them in other areas for success. For the selected start-ups, the Infosys founders will co-invest through their individual funds ranging from Rs.30 lakh ($50,000) in the accelerator programme to Rs.6 crore ($1 million) in early-stage companies.

The founding team of the new venture includes Srinath Batni, former Infosys board member, Tarun Khanna, professor at Harvard Business School, and Ganapathy Venugopal, former head of strategy and planning at Infosys.

Mr. Venugopal has been appointed as the Chief Executive Officer of Axilor.