iCreate Recognized India 25 'Company-To-Watch'
iCreate is now part of the 'India Fast Growth 25', an annual ranking of the fastest-growing emerging companies in India, recognizing the new generation of companies spurring innovation in India by AllWorldLive (a body comprising India 25 partners, Entrepreneur Magazine, PHD Chamber, Nexus Ventures, Mumbai Angels, Tie Bangalore / Mumbai / Chennai).
- (1888PressRelease) September 22, 2010 - TWENTY FIVE INDIAN COMPANIES QUALIFY AS GLOBAL GROWTH ENTREPRENEURS.
The India Fast Growth 25 companies have created 6,903 jobs and grew an astonishing 481% between 2007 and 2009. They are the Leading Indicators of Indiaʼs Next Economy Mumbai, India, September 6, 2010
Today, AllWorld Network (www.allworldlive.com) announced the India Fast Growth 25, a ranking of 25 fast growth companies. Companies from around the country were invited to apply to the India 25 and the fastest growing among them made the list. The India 25 winners are credentialed as global growth entrepreneurs and become part of the AllWorld Network of winners from the US, the Middle East, Africa and Asia.
"The India 25 proves that India is a hot bed for high-growth entrepreneurs with an astonishing three-year growth rate of 481%, which is much higher that other AllWorld rankings in the Middle East and Africa, and the majority of the winners plan to start another company in the next two years," said Deirdre M. Coyle, Jr., Co-Founder of AllWorld. "These winners define what it is to be a high-intensity entrepreneur, and we are thrilled they are now part of the AllWorld Network."
Every business must clear a specific series of financial and performance hurdles to qualify them as fast growth companies and global standard entrepreneurs. Twenty five companies made the cut, putting them on par with the best entrepreneurs from around the world. Topping the India 25 as the number 1 ranked company is Redbus.in, a one stop shop website for bus ticketing services across India, which grew 4,823% between 2007 and 2009.
Co-Founded by Phanindra Sama and Charan Padmaraju, their vision is to maintain and expand their market leadership position in the next 5 years. AllWorld was co-founded by Coyle, Anne Habiby and Board chairman Harvard Business School professor Michael Porter. "The India 25 companies, led by dynamic men and women, represent the leading edge of a new approach to India's competitiveness" said Professor Porter.
The India 25 was created in partnership with Entrepreneur Magazine, PHD Chamber, Tie Network, Nexus Ventures and Mumbai Angel Network. "The role of our partners in helping to create the India 25 is invaluable. They worked tirelessly to get the word out," said Manjari Sharda, AllWorld Director of the India 25. "The momentum building around this program is phenomenal, and we look forward to launching the India 100 is the next few months." The winners are profiled in the September issue of Entrepreneur Magazine now at newsstands throughout India.
"India 25 is an important milestone in India's entrepreneurial journey. It has identified and recognized India's future business leaders," said Bipin Chandran, Chief Editor of Entrepreneur. Companies large and small made the list, working in many different industries from software to healthcare, from travel to media. Companies that applied were ranked based on their sales growth between 2007 and 2009 and younger growth companies could qualify as "Companies-to-Watch." The company with the fastest growing sales between 2007 and 2009 earned the number one spot. Nineteen qualified as ranked companies and six as Companies-to-Watch.
The India 25 Fast Facts
The winners for India 25 represent 10 Industries, and the top 5 itself indicate the diverse emerging high growth industries of India which are Travel and Tourism, Media and Entertainment, Agriculture, Information Technology and HealthCare .
India 25 represents 8 cities with Mumbai and Bangalore represented by 6 companies each.
The Ranked Companies average of 650 million Rupees in revenue in 2009, and 279 employees, with the smallest applicant having 23 million Rupees in revenue and the largest close to 3.8 billion Rupees. The Companies to Watch are much smaller.
The average cost of start Company was 9.1 million Rupees, 63% of the companies were self financed at the inception.
The founders were an average of 28 years old when they started their company. The youngest founder was 17 when he started his business.
India 25 also showcases the emerging focus on R&D in India, 40% of companies invest over 10% of the revenue in R&D activities. Despite the global economic crisis, most of the companies grew in 2009 with 76% expecting significant growth in the next six months and several predicting sales growth of 25-50%. Also in the next six months, they plan on adding a significant number of jobs. Constraining growth, owners say, is the difficulty finding qualified managers and employees. Mirroring growth entrepreneurs in the US, most of the India 25 companies excellent benefits including equity in the company and profit sharing to employees and provide significant on the job training.
India 25 | Asia 500 September 6, 2010 Press Release Page 3 of 3 Added Sharda, "Entrepreneurship begets entrepreneurship and helps to expand the economic base of a country - and the India 25 are no exception," added Sharda. "The India 25 CEOs have big plans, with over 56% of them planning to start another business in the next two years, which translates into 17 new companies. They also think globally and by 2012 project 51% of their revenue will come from Asia or international markets."
AllWorld's mission is to scale all the growth entrepreneurs of the emerging world to create 1 million jobs by 2015. The model is simple - find growth entrepreneurs, credential them, put them on the global radar screen, and capital, talent and opportunities will come to them to further their growth. AllWorld calls this "Visibility Economics" and believes that with global visibility, vetted, test-driven growth entrepreneurs will create the next wave of jobs and innovation.
AllWorld plans to launch the India 100 later in 2010. All companies that make the India 25|100 become eligible for the regional Asia 500, and top winners are invited to attend the AllWorld Summit at Harvard University, October 18-22, 2010. In addition to the Asia 500, AllWorld is creating the Africa 500, Arabia500, Eurasia 500, and Latin America 500. For more information about the winning companies or to apply to the Asia 500
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