TCS to tap young talent with start-up fund

Kolkata, Nov 12 | Updated: Nov 13 2005, 05:30am hrs
Steve Jobs never went to a university. Linus Torvalds decided to have his own operating system when he was just 21 and a student at Helsinki University. Shawn Fanning, an 18-year-old University drop-out, wrote the code of music swapping program Napster.

These are the stories of young creative minds. If Mr S Ramadorai, the CEO and MD of Tata Consultancy Services Ltd, has his way, TCS would start funding the best of the innovative minds in schools and colleges.

We are planning to set up a venture fund for people who want to develop products. The fund will be provided to individuals as well as to start-up ventures.

This is one of the long-term road maps for the countrys largest software services company in product development.

Mr Ramadorai was in Kolkata to address the media on TCS Academic Conclave where the theme was Globalisation and the Paradigm Shift in Talent Pool Generation.

Though Mr Ramadorai did not provide any time frame for the project nor the funds to be allocated, he said TCS has already decided to have this kind of initiative as the country is becoming a fertile ground for creative experiments.

Unless you have a mature market within the country, one cant expect great ideas to take shape. Now we are seeing an ecosystem to support the rapidly changing needs of the Indian industry being developed which will encourage people to experiment with their product ideas, he said.

TCS has already developed products for vertical industries in the area of core banking solutions, healthcare and insurance.