NASSCOM announces Innovation award winners

CIOL Bureau
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BANGALORE, INDIA: NASSCOM the premier trade body and the “voice” of the Indian IT industry today announced the winners of the NASSCOM Innovation in IT Awards 2007. 


From the twenty-one companies shortlisted, eight winners will be felicitated and recognised for their outstanding contribution to the Indian IT sector at the forthcoming NASSCOM 2008 India Leadership Forum, scheduled in Mumbai from 13th-15th February 2008. 

Comat Technologies (P) Ltd, Financial Technologies India Ltd, Mango Technologies Pvt Ltd, MediaLab Asia, Mindtree Consulting, Mistral Solutions Pvt Ltd, MeritTrac Services Private Limited and Texas Instruments made it to the final list.

NASSCOM Innovation in IT Awards aims to honor those companies who have instilled innovation into existing knowledge and have come up with new ideas, products, processes or technologies that enable the business to achieve greater and better margins plough back into the business.


The recently released report by NASSCOM and Boston Consulting Group (BCG) called the ‘Innovation Report 2007’, benchmarks the Indian innovation ecosystem with leading innovation ecosystems around the world, and outlines recommendations for developing India’s innovation ecosystem for the country.

According to the report focusing on innovation will also allow the Indian IT sector to tap additional revenue streams worth US$ 50 billion by 2012 and ‘NASSCOM’s Innovation Awards’ is a key component of towards realizing this opportunity.

Congratulating the winners, Som Mittal, President, NASSCOM, said, “Over the years, the Indian IT industry has made many rapid strides and has now established itself as a mature and credible player in the global IT industry. The next wave of growth for the Indian IT industry will be innovation-lead and hence possessing an innovation capability will be sine qua non for Indian IT firms, regardless of their size.”


“Towards achieving this objective, NASSCOM had constituted the Innovation in IT awards as a platform for firms to showcase their innovations. 2007 marks the fourth edition of the awards and in this edition we have introduced a special focus on start-ups.

Not only this, to further provide impetus to talented innovators, NASSCOM recently announced the NASSCOM– ICICI Knowledge Park Innovation Fund (NIIF) a first of its kind initiative, to provide seed stage investments in order to promote Intellectual Property driven innovations in emerging technologies. NASSCOM is deeply committed to promoting innovation in the Indian IT industry and the development of an Indian innovation ecosystem” he added.

The Indian IT-BPO industries have achieved significant maturity and consolidation over the past few years and are now set for their next phase of evolution and momentum. Having explored various dimensions for achieving global leadership and building competitive advantage through rightly skilled, industry-relevant, specialized manpower, robust infrastructure and a favourable regulatory environment, the IT-BPO industry is on the hunt for a new success mantra.

Innovation has been identified as the key imperative for the growth of the Indian IT-BPO industry that will enable India to sustain its lead in the world markets. NASSCOM & BCG report says innovation will also allow the Indian IT sector to tap additional revenue streams worth US$ 50 billion by 2012.

In line with this, the key focus for the NASSCOM Innovation Forum has been to foster innovation as the key differentiator for the Indian IT and BPO industry. The broad award categories for 2007 include Market Facing Innovation, Process Innovation and Input Innovation for both emerging companies and large and MNC companies.