Infosys Technologies will be setting up a global annual award for computing excellence with a cash prize of US$ 150,000.
The Infosys award, proposed to be instituted through the Association for Computing Machinery (ACM), will dwarf the Turing Award, the existing highest recognition for computing and technical research. Infosys will be offering a corpus of $4 million to ACM, the New York-based non-profit organisation of computing experts, researchers, scientists, innovators and educators.
The award will be given out of the interest earned from the fund. The recognition, to be called Infosys Award, will be conferred on the global winner every year in Bangalore. Infosys declined to comment. The Turing Award, funded by Intel Corporation, carries a cash prize of $100,000. ACM instituted the Turing Award in 1947 in honour of Alan Mathison Turing, the British mathematician who contributed the mathematical foundation and limits of computing.