Infosys to build a new Technology and Innovation Hub in Connecticut
Building on the state’s economic development efforts, Indian tech giant Infosys has announced the establishment of a Technology and Innovation Hub in Hartford, Connecticut. Over the next five years, the new centre is expected to create as many as 1,000 new jobs for US nationals.
From strategic partnerships with the world’s largest health and beauty retailers, to eye-catching levels of philanthropy, Infosys has been a recurring presence in the news over the last year. The firm revolves around offering services in state-of-the-art technological developments, and has found itself at home in the new digital environment that has emerged across the globe.
Infosys was founded in India in 1981, and has since grown into a firm of global stature, recording annual revenues of over $10 billion and employing 200,000 people across the world. As digitalisation has taken off in India, the firm has been exceptionally active in expanding its presence across the country.
However, in recent months the firm’s expansion activity has demonstrated an increasingly international character. The firm’s partnership with local startup Tonetag, for instance, was forged last year to develop a FinTech solution that is hoped to permeate 94 markets across the world and impact 800 million people. A new contract with the A.S. Watson group sees the firm bolstering operations for the retailer across nearly 24 markets.
Technology and Innovation Hub
Now, the firm has made a remarkable investment in bolstering its operations in the US with the establishment of a hub for technology and innovation in Hartford, Connecticut. Infosys currently operates with 16 offices in the US, spread across key economic centres such as Atlanta, New York and Phoenix. This will be the firm’s second technology and innovation hub; the first being in Indianapolis, Indiana.
This hub in particular will operate with three clearly defined areas of focus, spanning the insurance, healthcare, and manufacturing sectors. Specifically, the new centre will conduct comprehensive research around IoT and cloud-based applications, and develop security, sharing and compliance mechanisms in the data-management vertical.
Infosys already has a strong bond with the state of Connecticut, having funded the training and education of over 3,500 students, 35 teachers and 245 schools in the state through its Infosys Foundation USA. The initiatives have included programmes in computer science, and even the provision of finances for classroom equipment.
In keeping with this ethos, the new hub will also offer training facilities for the 1,000 people that it will create jobs for. In recent months, the Commission on Fiscal Stablity and Economic Growth in Connecticut has been particularly active in its development agenda, with a strong emphasis on technological literacy and capabilities alongside other reforms such as tax hikes and budget cuts.
The move has been well-received by leaders of major firms, including Cigna and Stanley Black & Decker, particularly for the hub’s focus on healthcare and insurance, given Connecticut’s position as a nucleus for these industries. This position will also benefit Infosys, allowing it to leverage its latest innovations from the Connecticut hub to bolster its international offerings in HealthTech and InsurTech.
In addition to these plans, the firm has announced plans to develop a similar hub in Raleigh, North Carolina, and a Design and Innovation Hub in Providence, Rhode Island.
Commenting on the hub, Governor of Connecticut Dannel P. Malloy said, “Today marks yet another landmark day in Connecticut’s economic development efforts, at a time when our investments are bringing new life and vigor to our capital city. I am thrilled to welcome Infosys to Connecticut and congratulate them on their decision to establish a Technology and Innovation Hub in Hartford. Connecticut’s tremendous assets and talent pipeline continue to attract high caliber companies to the state, and I look forward to the value that Infosys will bring to our business community.”
President of Infosys, Ravi Kumar said, “We are excited to announce the expansion of our presence in Connecticut and to create 1,000 technology jobs in the state. This investment will further strengthen our ability to serve clients’ needs throughout the New England region and expand the local workforce to help our clients compete in the rapidly digitising insurance, healthcare and manufacturing sectors. Hartford’s position as the insurance capital of the world, paired with Connecticut’s world-renowned academic institutions, will place Infosys in close proximity to valued clients and accelerate the recruitment of highly-skilled local talent."
