Qwatt Technologies Receives Prestigious 'Most Promising Technology Startup in India' Award
By Team Asianet Newsable | First Published Apr 12, 2024, 12:02 PM ISTPremnath Parayath and Kiran James Founding directors of Qwatt Technologies, received the prestigious award 'Most Promising Technology Startup in India' from renowned actor and businessman Sunil Shetty at an award ceremony organized by the Times Group in Delhi.
Delhi, April 10, 2024: Qwatt Technologies secures the prestigious "Most Promising Technology Startup" Award at the Times Business Awards 2024. Kiran James and Premnath Parayath, the visionary Founders of Qwatt Technologies, received the prestigious award from renowned actor and businessman Sunil Shetty at an award ceremony organized by the Times Group in Delhi.
Qwatt Technologies' pioneering approach to automation within the signage industry, executed with utmost sustainability, has rightfully positioned them as the deserving recipient of this prestigious award. Their innovative product, the Qwatt Time Switches, strategically targets an underserved market segment encompassing signage and Digital Out-of-Home (DOOH) illumination. This strategic focus not only fills a previously overlooked niche but also plays a significant role in curbing energy consumption and catalyzing a transformative shift within these industries. In just one year since its inception, Qwatt Technologies has made a profound impact, demonstrating forward-thinking initiatives that not only underscore their commitment to sustainability but also showcase their ability to identify and address critical industry needs. This heralds a future marked by enhanced energy efficiency and technological advancement.
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Premnath Parayath, Co-Founder, Qwatt Technologies said ‘’We identified the limitations of existing time switches and effectively addressed them, resulting in a rapid and positive response within a short timeframe. Our focus remains on innovation, reliability, and customer satisfaction as we expand our presence in the electronics market. Future offerings, including LED Display Boards, LED Modules, and Power Drives, will redefine industry standards, showcasing Made in India solutions with cutting-edge technology and a commitment to sustainability”.
In just one year, Qwatt Technologies has successfully secured contracts with more than 20 corporate clients, expanded its network to include over 60 vendors, and established seven authorized distributors across the nation, laying a solid foundation for future expansion. ‘’This remarkable growth reaffirms our commitment to realizing our vision of becoming a leading electronics brand, addressing industry challenges with innovative, reliable, and eco-friendly technology solutions aimed at enhancing user interaction and elevating customer satisfaction. We are confident that with this momentum, we are on track to achieve our goal of becoming a unicorn company within the next eight years" said Kiran James, Co-Founder, Qwatt Technologies.
The sustained engagement across various industries has played a crucial role in informing subsequent product advancements at Qwatt Technologies. Notably, our IoT Enabled Time Switch was conceived following managerial insights into the significance of signage illumination in brand identity. This groundbreaking solution enables centralized monitoring, offering features like real-time oversight, remote control functionality, enhanced efficiency, improved performance, and cost-saving measures.
With the introduction of four Time Switch variants and an IoT module, Qwatt Technologies stands on the brink of enduring success and innovation. By placing a premium on user experiences and wholeheartedly embracing innovation, Qwatt Technologies aspires to take the helm in the market, delivering holistic solutions that catalyze positive transformations across industries, transcending borders to impact markets globally.
About Qwatt Technologies:
Qwatt is the brainchild of professionals with expertise in Product Research & Development, Marketing, and Business Management. Their mission is to address critical gaps in the Automatic Lighting & Electronic industry with sustainable solutions. Starting with the Qwatt automatic timer switch for lights, they aim to introduce user-friendly, energy-efficient products. Each solution undergoes meticulous research and development to ensure efficiency and reliability. Qwatt's goal is to empower individuals, businesses, and communities to make a positive impact by embracing sustainable practices and technologies. Join Qwatt as they pioneer innovation and promote sustainability in the pursuit of a brighter, more efficient future for all.
About founders:-
Premnath Parayath boasts more than 28 years of extensive experience in the signage and lighting industry. Most notably, he served as the General Manager of Business Operations and Development at General Electric (GE). Beyond his tenure at GE, he assumed prominent national and global roles in product development and business strategy at esteemed firms such as Osram, Lighting Technologies etc. Additionally, he lent his expertise as a chief consultant to several other leading lighting companies in India.
Kiran James is an innovative strategist with an astute eye for emerging opportunities. As the Vice President and Global Head of Marketing and Product Strategy at Muthoot Mathew Group, he brings 15 years of expertise in marketing, product development, business strategy, and financial planning. He has won the Best Marketing Strategy Award for his exceptional mastery in marketing and business strategy. He is an alumnus of IIM Jammu and brings a distinguished educational background to the table, marked by multiple postgraduate degrees.
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