TCS invests Rs 72 crore to drive innovation in South America

India's largest IT services exporter, TCS , on Wednesday said it has invested 50 million Brazilian real (over Rs 72 crore) to accelerate innovation across South America.

The Tata Group company also announced a 10-year partnership with Brazil's higher education and research institution Insper, under which it will develop solutions using technologies such as AI, Generative AI, the Internet of Things, and Spatial Computing, according to an official statement.

The proposed research initiatives include satellite-based geo-sensing to enhance crop yields, reduce downtime in offshore oil rigs, and using AI to accelerate new drug development, the statement said.

The collaboration between TCS and Insper will include academic research, development of technology prototypes, and organisation of seminars, hackathons, and technology talks, it added.

TCS' customers in the region will get exclusive access to the research and innovation capabilities of Insper as well.

Stating that the idea is to establish a bridge to the market to serve companies with different profiles, TCS' Country Head for Brazil Bruno Rocha said, TCS will be able to access academic expertise and collaborate with Insper's business and engineering capabilities.

"The development of engineering and computing projects has been one of the pillars of our institution, and this partnership will place us at the forefront of developing solutions for real-time company problems," said Rodrigo Amantea, Head of the Paulo Cunha Innovation and Entrepreneurship Hub, Insper.

Meanwhile, in a separate statement following the visit of Spanish Prime Minister Pedro Sanchez to its facility in the city on Wednesday, the company said it has over 1,000 associates in Spain.

It entered the country in 2003, and has two global delivery centres at Madrid and Ourense in Spain, the statement said.