Kiran Karnik Ex-Prez NASSCOM joins IDG Ventures

March 27, 2008: IDG Ventures India today announced that Kiran Karnik, Ex- President, NASSCOM and a recipient of the Padma Shri joins IDG Ventures India on their Global Advisory Board. Mr Kiran Karnik was President of NASSCOM, the premiere trade body for the IT software and services industry in India, till January 2008.

During his 6 years at NASSCOM, Mr. Karnik was widely recognized as a thought-leader and guiding force for the Indian IT industry. He is credited for promoting "Brand India", especially by show-casing India' s technological strength to the world. In a career of almost four decades, Mr. Karnik has been conferred many awards and accolades. He has been awarded the Padma Shri in 2007 and the 'DATAQUEST IT Person of the Year - 2005'. Business Week named Mr. Karnik as one of the 'Stars of Asia' in 2004. He was selected as Forbes magazine's 'Face of the Year 2003', for being a driving force behind India's off shoring wave.

He has been a member of many key government committees, and is presently a member of the Scientific Advisory Council to Prime Minister of India. On his joining IDG Ventures Global Advisory Board, Mr. Karnik said "Entrepreneurship is in a very exciting stage in India. Services have been India' s forte. Now we can look forward to the next set of great product and internet companies to come out of India. I am excited to be a part of the IDG Ventures India team and contribute to these next generation companies."

Speaking on this occasion, Mr Sudhir Sethi, Founder, Chairman and Managing Director, IDG Ventures India said, "We are pleased to have Kiran join our advisory board; he is an icon in the Indian Industry. His experience and leadership in the global market as well as insights into building businesses globally from India will be immensely valuable for our portfolio companies and partners to leverage upon".

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