By IANS
Hyderabad : The city-based SatNav Technologies, an IT products company, has bagged the Red Herring Top 100 Asia 2007 award.
This was announced at a gala dinner at Hong Kong organised to honour 100 cutting-edge private technology companies from across the Asia-Pacific region, said a company statement here.
The winners are based in 16 countries/regions including China, India, Japan, Singapore, South Korea, Australia and Vietnam. This is one of the prestigious awards across Asia, which is announced by the Red Herring Magazine.
The event brings together an elite roster of entrepreneurial and global venture investment firms to showcase excellence in innovation. The Red Herring editorial team carefully selected the winning companies based on both quantitative and qualitative criteria such as financial performance, technology innovation and quality of management.
SatNav earlier won the Computer Society of India, Nasscom innovation showcase, Microsoft India innovation awards for its innovation and pioneering efforts.
“Receiving the pan-Asia award is a satisfying moment for us as we have been working on innovative products for our select markets for almost eight years now,” said Amit Prasad, founder and managing director, SatNav Technologies.
“India has always been seen as a low cost outsourcing destination though there have been some rare examples in other innovative areas. Our belief is that intellectual property based companies will be the next big opportunity from India and this award is another recognition of our efforts.”
SatvNav, which was focused on Indian market, plans to significantly increase presence in the international markets for the flagship product ‘a-mantra’ by investing $10 million in the Asia Pacific and Middle East regions over the next two to three years. The investment is to be utilised in sales, marketing and customer acquisition efforts.
Headquartered in Hyderabad, SatNav has presence in California (US), New Jersey (US) and Singapore.
Red Herring is a global media company uniting the world’s best high technology innovators, venture investors and business decision makers in a variety of fora.