TCS launches Pace Studio in Stockholm to expand innovation in the Nordic region

Following the announcement, shares of TCS were trading higher by 0.59% at ₹4,516 per share.

The company reported that the TCS Pace Studio Stockholm is located in the Epicenter House of Innovation, which hosts over 600 technology companies and entrepreneurs. The location allows TCS to better understand the business problems and goals of the local environment.

Further, TCS stated that the Pace Studio aims to nurture a start-up culture by acting as an agile incubator that provides opportunities and solutions.

The Pace Studio in Stockholm is the company’s fourth global Pace Studio and the first one in the Nordic region. The other three TCS Pace Studios are located in Riyadh, Sydney, and Letterkenny. TCS also has seven Pace Ports located in Tokyo, Amsterdam, New York, Pittsburgh, Toronto, London, and Paris.

The company said that the TCS Pace network leverages the company’s methodologies, global insights, research, and intellectual property. The platform also supports collaboration and partnerships among local startups, and entrepreneurs through its Co-Innovation Network (COIN).

Dr. Harrick Vin, chief technology officer at TCS, said that the TCS Pace Studio helps the company provide its customers with co-innovation facilities. The expansion in the Nordic region will allow Swedish organisations to develop various solutions at scale and rapidly.

“The TCS Pace Studio at Stockholm will enable Swedish organisations to collaborate with TCS’ research and innovation ecosystem to develop novel solutions across a vast range of disciplines, at speed and scale,” he said.

Shares of the company have risen by nearly 18.5% since the beginning of the year. The stock has gained over 32% in the past year.