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OrangeScape First Indian Company Backed By The 1M/1M - Persistent Systems Partnership
The One Million by One Million (1M/1M) initiative and Persistent Systems have announced that OrangeScape is the first company in India to benefit from their new partnership to bring technologies from start-up companies to market.
By: Maureen Kelly
Headquartered in Pune, India, Persistent Systems is a leader in outsourced product development. Persistent works with more than 250 customers and serves as a reseller and channel for products from select 1M/1M entrepreneurs. In addition, Persistent Systems also provides outsourced product development services to some of these companies.
Headquartered in Chennai, India, OrangeScape is a technology platform company founded in 2003 with a vision of simplifying business application development. OrangeScape provides a Visual Platform-as-
"The 1M/1M philosophy is to focus our entrepreneurs on customer acquisition and revenue without burning through a huge amount of cash in building expensive channels,” explains Sramana Mitra, founder of 1M/1M. “Our partnership with Persistent Systems is focused on taking promising small companies to market, efficiently. OrangeScape is one of the most promising Indian product companies we have seen so far, and we see an exciting opportunity for them to enhance the capabilities of Google’s App Engine in long tail enterprise apps. Over time, we foresee OrangeScape becoming a leader in the A-PaaS (Application PaaS) space and also a cornerstone of the Google enterprise solution portfolio."
"We at Persistent are very excited to work with 1M/1M in helping entrepreneurs succeed by bringing new technologies to market,” shares Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems. “We have been proactively investing in Cloud Computing, and believe that OrangeScape’
“This deal with Persistent Systems will bring OrangeScape a cost-effective go-to-market solution through their global sales team and offshore backed enterprise implementation support through technology experts in Persistent’s Cloud Practice,” adds Suresh Sambandam, Founder and CEO at OrangeScape. “I also take the opportunity to recommend 1M/1M as a great program for Indian entrepreneurs looking to access US customers. Sramana’s extensive experience and rolodex has helped us zero-in on an immediately actionable revenue-focused strategy and engage the Persistent sales force with great commitment and enthusiasm.”
About One Million by One Million (1M/1M):
Founded in 2010 by Sramana Mitra, the One Million by One Million (1M/1M) initiative is an educational and business development program that aims to help a million entrepreneurs globally to reach $1 million in revenue and beyond, build $1 trillion in sustainable global GDP, and create 10 million jobs. For more information, please visit: http://1m1m.sramanamitra.com
About Persistent Systems:
Established in 1990, Persistent Systems (BSE & NSE- PERSISTENT) is recognized as an award-winning technology company specializing in software product development services. With 5,400+ employees, innovative business models, and reusable assets and frameworks, Persistent helps customers increase revenues and margins, and enhance brand value. Persistent Systems has delivered over 3,000 software product releases in their last five years and has 290 customers. The company has developed proven processes for the entire product lifecycle which reduce time-to-market while delivering consistent quality and customer satisfaction – as evidenced by customer partnerships that span many years. For more information, please visit: http://www.persistentsys.com/
OrangeScape, based in Chennai, India, is a rare breed of technology platform company founded in 2003 with a vision of simplifying business application development. OrangeScape provides a Visual Platform-as-
Forward-looking and Cautionary Statements:
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, our revenues highly dependent on customers located in the United States, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, concentration of major operations of the Company in one city, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Stock Exchanges and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.
For more information contact:
One Million by One Million