IT giant Tata Consulting Services (TCS) is on the cusp of signing three Australian technology startups to formally become part of its Co-Innovation Network (COIN), an initiative that helps fledgling companies create a global market for their products.
TCS’ chief technology officer, K. Ananth Krishnan, declined to name the firms but told CIO they were involved in the areas of augmented reality, ontology-based text analytics and software testing.
Krishnan first flagged that TCS was in talks with several Australian and New Zealand startup companies. in February this year.
According to Krishnan, the augmented reality startup has developed a camera-based system that enables provide a “more varied experience” to people reading paper documents such as magazines or product catalogues.
The firm has also created technology that makes it easier to “digitise” pre-printed forms, which is useful for organisations such as hospitals and government departments, which are writing on standardised forms.
Krishnan said technology developed by the ontology-based text analytics provider “has gone very deep in governance-related areas” for police and other government departments.
“It [the technology] is specific to this part of the world but in theory it should be transferable to [other countries in] the British Commonwealth because the verbage and terminology is similar,” he said.
TCS launched COIN in Australia and New Zealand in July this year and is hoping to announce agreements the three startups when pilot projects are completed possibly by the end of the year.
The three firms were selected from a short-list of eight companies, which was created after TCS consulted with government agencies, universities, private equity and venture capital firms in Australia and New Zealand.
During the selection process, startups pitch their wares to staff from TCS’ global innovation team, who “complete their diligence,” said Krishnan.
“In Silicon Valley [in the United States], we get five or six of our customer’s CIOs and CTOs into the room and we did the same thing here [in Australia],” he said.
“I am looking for pilots in this region to begin with because logistically, that’s easier for a startup and for us. That's one of the reasons we get the local CIOs and CTOs in the room."