BWI: Magnasoft NorthStar wins Red Herring Asia Top 100 Award in Hong Kong

Press release from Business Wire India
Source: Magnasoft NorthStar
Monday, October 01, 2012 04:58 PM IST (11:28 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Business services, Defence & security, Information technology, Media & entertainment; Technology
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Magnasoft NorthStar wins Red Herring Asia Top 100 Award in Hong Kong
Chosen from amongst 700 nominees as the most promising new entrepreneurship

Bangalore, Karnataka, India, Monday, October 01, 2012 -- (Business Wire India) -- Magnasoft NorthStar, one of Asia's leading location-based child safety platforms in the Amazon cloud has been named the 2012 Red Herring 100 Asia Award winner. NorthStar is an integrated child and school bus tracking and monitoring solution that improves safety and accountability for children while they travel to school and back.

The company emerged as the winner at the Red Herring Asia Forum in Hong Kong, from amongst 700 participants across the telecommunications, security, software, hardware, biotech and mobile industries, after a rigorous selection process. The nominees were 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.

NorthStar is a "peace-of-mind solution" that takes into account the concerns of parents, school authorities, school bus fleet owners and school bus drivers. Unlike standard tracking systems, NorthStar's technology enables real-time monitoring of the bus with personalised smart cards for each child to enable automatic attendance and better emergency management. The system also activates sms alerts to parents on arrival and departure schedules and tracks driver and route efficiency to improve fleet management.

NorthStar is used by hundreds of school buses and tens of thousands of children traveling on them across the country. There is tremendous scope for growth, as independent studies conducted by the company reveal that from amongst 200,000 school busses surveyed in 8 prominent Indian states, less than 5% are using any form of GPS tracking systems.

Expressing his joy on winning the award, CEO Bobbie Kalra, Magnasoft NorthStar said, being named a Red Herring 100 winner is a great honour to the team, "An international recognition of this stature, so early in our journey, is a huge encouragement. Child safety is a passion for all of us at Magnasoft NorthStar and we are motivated by this accolade to strengthen our efforts in making this service available to every school child in the country. We're currently executing our Asia-wide expansion plans and this award will further help us capitalize on our success in the Asian markets as well as create further business opportunities through the Red Herring network."

"After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Asia to the Top 100 Winners. We believe Magnasoft NorthStar embodies the vision, drive and innovation that define a successful entrepreneurial venture. Magnasoft NorthStar should be proud of its accomplishment, as the competition was the strongest it has ever been," commented Alex Vieux, publisher and CEO of Red Herring.

The prestigious Red Herring 100 awards highlight exciting startups identified to grow at an explosive rate from Asia, Europe and the Americas. Red Herring was amongst the first to recognize and reward companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay.

About Magnasoft NorthStar:

Magnasoft combines the power of GIS technology with extensive subject matter expertise to implement powerful spatial technology solutions that integrate seamlessly with the IT framework of organizations. From data capture and conversion, to application development, to Enterprise Integration and Photogrammetry, Magnasoft's expertise covers the complete terrain in spatial systems.

Magnasoft is mentored by Global Technology Ventures, a premier venture capital company.

The company launched NorthStar, their first product in 2011, a 'peace of mind solution' that improves safety and accountability in school bus systems. NorthStar is available in most of the top schools in cities across India, including in Delhi, Chandigarh, Mumbai, Pune, Bangalore, Hyderabad, Chennai, Nasik, Indore, Vishakapatnam and Nagpur, and in many more tier II cities across India.



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