Amit Kishore Prasad, MD, SatNav Technologies, Hyderabad

By Team YS|27th Sep 2008
Clap Icon0 claps
  • +0
    Clap Icon
Share on
close
Clap Icon0 claps
  • +0
    Clap Icon
Share on
close
Share on
close

My story ...

The thrill of creating value and generating wealth has always excited me. I started earning money early from school and college days with mini-ventures, web business etc. I did take up a regular job after graduation and worked for 4 years before I got the opportunity from my company to incubate on new business ideas in IT space. The power of an idea, which can change your life, create wealth for self and the team, and provide livelihood to many people spurred me on.

For the next four years, our incubation group offered a wide array of products both off-the-shelf as well as customizable, for both the B2B and the B2C markets. Finally, the majority shareholder decided to spin it off as a separate entity and the IT Products part of the business was floated as an IT Products venture in 2004. The outgoing team got to keep the products in lieu of compensation and everyone walked away happy from the deal!

Since then, the biggest challenge has been to make people deliver to an organization's changing needs. Struggle was to make the venture profitable even as you grow your targets and goals from one level to another. I IIt is not practical to expect that to happen with ease, so each setback and difficulty made me more determined to make it work. Finally, the turning point came in early 2007, when Times Group (BCCL) invested in our venture. The funding came at a time when no believed that GPS will ever pick up in India. It gave us the critical 'oxygen' that was needed to announce our products in the market.

Our SatGuide products provide high-performance GPS Navigation solutions for a range of applications whether it is GPS for Car Navigation or Mobile. We are currently offering maps of 200+ cities with 'One India' map that will navigate you from North to South, East to West on highways. The map also has detailed maps of various cities and offers turn by turn directions to ensure that you reach your destination in any given city. Some of our well known navigation products are:

  • SatGuide Map Software P
  • Personal Navigation (PND) for Cars PD
  • PDA with Navigation Mo
  • Mobile Phone with Navigation G
  • Go GPS KitTMTM for Phones M
  • Maps & Navigation for Laptops / Desktops Ma
  • Map Upgrade Plan W

We have never let anyone walk away dissatisfied and have always being proactive at offering the best value for money by doing things right: the first time, on time and all the time. In

In 2008, Sequoia Capital, a VC firm came as a partner and invested in our company. We were GPS Pioneer in 2005, became market leader in 2008, and now we would like to retain majority market share against both domestic and international competition.

GPS market is set to boom and we have to continue being in the right place, at the right time, with the right products, to ensure that we gain the maximum benefit from the market expansion. My vision is to make it a billion dollar Value Corporation in 5 years or less, by 2012.

My advice to people who want to become entrepreneurs is to keep in mind that it will always take 10 times more money that you think is required to break even. Be ready to face disappointments in every arena before you see success, remember that no one is going to do business with you or lend you money just because they like you. Th TThe product or service needs to prove its value proposition on its own.

    Clap Icon0 Shares
    • +0
      Clap Icon
    Share on
    close
    Clap Icon0 Shares
    • +0
      Clap Icon
    Share on
    close
    Share on
    close