August 5, 2021

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The World Stock Markets Tips & Targets, News, Views & Updates

TCS to invest $30-40 mn annually in global running sponsorships next 5 yrs

Tata Consultancy Services (TCS) on Wednesday said it plans to invest up to USD 40 million annually in global running sponsorships and related community programming from 2022 to 2029.

The Mumbai-based company has also signed an eight-year contract with New York Road Runners (NYRR) to extend its title and technology sponsorship of the New York City Marathon through 2029, a statement said.

TCS’s extended partnership with NYRR follows its announcement earlier this month that it will become the new title sponsor of the London Marathon starting in 2022.

“Collectively, plans to invest USD 30 million to USD 40 million annually in global running sponsorships and related community programming from 2022 to 2029,” it said.

Chairman (North America) Surya Kant said the company is delighted to extend its sponsorship of the TCS New York City Marathon, the foremost running event in the world.

“We sponsor running events across the world because we want to inspire local communities to live healthy and active lifestyles, and also because of the obvious parallels between marathons and the growth and transformation journeys that we help our customers undertake,” he added.

As part of the sponsorship, TCS will launch a new version of its TCS New York City Marathon App that incorporates augmented reality (AR) features that became popular for virtual races during the pandemic.

The new version will include features to support both in-person and virtual runners along with surprise-and-delight AR experiences. Fans and athletes will be able to access real-time runner tracking, digital cheer cards, and a finishing-time predictor.

TCS said it will donate USD 4 million to NYRR’s youth and community programmes including Rising New York Road Runners – a free, nationwide NYRR programme that incorporates physical education into the school day.

TCS will also develop a marathon version of its go IT STEM education contest that will challenge students to develop an app concept that promotes active lifestyles and inclusivity, it added.

Besides, the company will host the Team TCS Teachers Programme that will select 50 teachers from across North America who demonstrate an ability for sharing their passion for running with students. Selected teachers will receive free race entries, a VIP race day experience, and marathon-themed lesson plans for students from TCS’ STEM education program, Ignite My Future in School.

Since 2014, TCS has helped us transform our runners’ experience through technological advancements, while also providing tremendous support for our community programmes across the five boroughs. TCS and NYRR have shared core values, commitment to service, and passion for innovation, and I can’t wait to see what we co-create in our next chapter together,” NYRR Chief Executive Officer Kerin Hempel said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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