Infosys does something that all Indians can be proud of.

The Association for Computing Machinery (ACM) has signed an agreement with Infosys Technologies Limited to create a new annual award that recognizes young scientists and system developers whose contemporary innovations are having a dramatic impact on the computing field. The award, to be known as the ACM-Infosys Foundation Award in the Computing Sciences, will seek candidates globally and will carry a prize of $150,000. The first recipient will be announced as part of the ACM Awards program in early 2008.

Read the full press release here.