Impetus chief sees great hope for IT industry | india | Hindustan Times
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Impetus chief sees great hope for IT industry

ENTERTAINMENT WOULD be the new frontier of Information Technology (IT), opined Impetus Technologies founder and CEO Praveen Kankariya.

india Updated: Apr 14, 2006 13:46 IST

ENTERTAINMENT WOULD be the new frontier of Information Technology (IT), opined Impetus Technologies founder and CEO Praveen Kankariya.

Speaking to Hindustan Times, Kankariya said that people thought the IT bubble had burst, but in fact it was a collapse of the share market with withdrawal of capital invested in the IT companies that led to the belief that after the initial boom, a recession had set in.

As for the dotcom part of IT, it turned out to be a big loss for the uninitiated investor, while on the other hand companies like Google not only thrive but also wield an enormous economic clout.

Any business requires time to develop and results cannot be expected within a financial quarterly. The people had pinned high expectations from the industry and wanted results within a very short period, which any fledgling industry could not give over a sustained period of time without establishing itself.

As of now the power of IT could be gauged from the fact that it was one of the main contributors to the Indian economy and renowned companies from the world over were flocking to every destination in the country christened as an IT hub.

Impetus, which started in 1991 from Indore, is a $ 20 million group spread across India and USA and employs 600 personnel in the country alone.

With its core competence in product design, intellectual property initiatives and leading edge development technologies, it has a strong point in outsourced software products and Research and Development (R&D) services. Strategic partnerships are shared with leading software companies like SUN, IBM, Microsoft, Servigistics, BEA Systems, Connecture, Kronos, ViServ, Sennari, PeopleSoft, Movaris, NeuStar and the likes.

However, the most impressive thing is that the long journey began from a small step taken in the City by Kankariya who is a local and had his schooling in Daly College and college education from SGSITS.

The company has its head office in Cupertino (USA) and other offshore offices in Boston and Atlanta. The company known as Impetus Infotech Limited in India has three offices located in the City at Sangam House, Sarda House and Industry House, two offices located in Noida and a satellite office in Hyderabad.

The head office for India is in Indore and the company is planning to consolidate from its present three locations in the City to one place housing the whole setup. With the IT Crystal park coming up, new dimensions would open up in the City and the company would decide when the time comes whether to move inside this complex or remain outside.

However, one thing remains sure - the participation of the company would increase manifolds with the City becoming an IT hub. IT had diversified into various sectors and products ranging from financial to healthcare, entertainment, gaming, security, planning, insurance and the likes.

The company had 600 employees in India at present had hired 150 through campus recruitments, who would be joining in 2007, and inducted 150 through direct recruitment in the months of January and February.

The company had launched a massive recruitment drive to cross the 1,000-employee mark by the year-end and in the first phase of the same on-campus placements had been conducted in several prestigious campuses across the country including SVIM and Medicaps in Indore. The second phase of this drive would see the HR team visiting SGSITS for recruitments. Probably this would be Kankariya’s own way of returning something to his home City.

People thought the IT bubble had burst, but in fact it was a collapse of the share market with withdrawal of capital invested in the IT companies that led to the belief that after the initial boom, a recession had set in.