SatNav Technologies bags Red Herring 2007 award

Hyderabad, Aug 30 (UNI) After winning laurels in India for its innovation and pioneering efforts, SatNav Technologies has won the Red Herring Top 100 Asia 2007 award.

According to a press release here today the winners, based in 16 countries/regions, including China, India, Japan, Singapore, Korea, Australia and Vietnam, were selected from a pool of more than 500 cutting-edge private technology companies from across Asia-Pacific region.

They were selected based on financial performance, technology innovation, quality of management, execution of strategy, and integration into their ecosystem, the release said.

SatNav Technologies Founder-MD Amit Prasad said, ''Receiving the pan-Asia award is a satisfying moment for us as we have been working on innovative products for our selected markets for almost eight years now. 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.'' On the plans for Asia-Pacific, he said, ''Over the last couple of years, SatNav's focus was on the Indian market, which also helped strengthen the products, as Indian customers are very tech savvy and demanding.'' ''Now, with a strong customer base, good market presence and recognition, SatNav is currently poised to significantly make its presence in the international markets for the flagship product a-mantra by investing 10mn US Dollars in the Asia Pacific and Middle East regions over the next 24-36 months. The investment will be utilised in sales, marketing and customer acquisition efforts,'' he said.

UNI