A domestic software company – F1Soft International – has made it to the final 100 winners list of Red Herring's Top 100 Asia award for its innovative products and services in the Mobile Financial Service sector in Nepal.
Red Herring has announced its Top 100 award in recognition of the leading private technology companies of Asia, celebrating the innovations and technologies of these startups across their respective industries.
"Our products and services, which were considered new a few years back, are already successful and widely accepted in Nepal," said president of F1Soft International Biswas Dhakal, highlighting the current market presence and the evolution of its products and services in the award ceremony organised in Hong Kong on September 10-12, where some 200 finalists from across Asia, Australia and New Zealand also made their presentations out of which 100 were selected as winners.
"The award has recognised the fact that our success in Nepal is no small feat and our innovations are truly world class," said Dhakal, thanking his team for helping make it possible and the valued clients for trusting the company and using its products to create a winning combination for success.
F1Soft is the largest provider of transactional banking products and mobile financial services in the domestic market for many banks and financial institutions, including mobile banking, internet banking, remittance and eSewa.
"F1Soft has become the first and only company from Nepal to receive this prestigious award," the young entrepreneur added.
Red Herring’s Top 100 Asia list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring editors were among the first to recognise companies like Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay, which have changed the way we live and work.
"Choosing companies with the strongest potential was by no means a small feat," said publisher and chief executive of Red Herring Alex Vieux.
"After rigorous contemplation and discussion, we narrowed down our list from hundreds of candidates from across Asia to the Top 100 winners," he said, adding that they believed F1Soft International embodies the vision, drive and innovation that define a successful entrepreneurial venture. "F1Soft should be proud of its accomplishment, as the competition was the strongest it has ever been."
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria like financial performance, technology innovation, management quality, strategy, and market penetration.
The assessment of potential is complemented by a review of the track record and standing of startups relative to their peers, allowing Red Herring to see past the 'buzz' and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Asia.