MUMBAI, INDIA: ItzCash Limited, a prepaid cash card company, has been selected as a Finalist for Red Herring's Top 100 Asia award that honors the year’s most promising private technology ventures from the Asian business region.

“This year was very rewarding,” said Alex Vieux, publisher and chairman of Red Herring. “The global economic situation has abated and there are many great companies producing really innovative and amazing products.”

He said that they had a very difficult time narrowing the pool and selecting the finalists. ItzCash shows great promise therefore deserves to be among the Finalists. “Now we’re faced with the difficult task of selecting the Top 100 winners of Red Herring Asia. We know that the 2011 crop will grow into some amazing companies that are sure to make an impact.”

Fnalists for the 2011 edition of the Red Herring 100 Asia award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, mobile and other industries completed their submissions to qualify for the award.

The Finalists are invited to present their winning strategies at the Red Herring Asia Forum in Hong Kong, October 17-19, 2011. The Top 100 winners will be announced at a special awards ceremony the evening of October 19 at the event.

The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across Asia. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.