Traditionally, a red herring is something that misleads or distracts from an issue at hand. But it's also the name of a global media company behind a well-respected list that ranks top tech companies around the world, and this year six New Zealand businesses are in the running.
Red Herring's Top 100 Asia award honours the year’s most promising private technology ventures from the Asian business region, and the finalists have just been announced, including local clean energy firm Aquaflow and tech companiesCatch Software, TouchSub, Vensa Health, VMob and WhosOnLocation.
“We’re very proud to be the only Kiwi company to reach the finals in the clean technology category. Our focus has always been on making a near term contribution to renewable fuels and we are now very close to making this a reality," says Aquaflow director Nick Gerritsen.
Finalists for the 2012 edition of the Red Herring 100 Asia award are selected based on their technological innovation, management strength, market size, investor record, customer acquisition, and financial health.
Red Herring nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries. This is complemented by a review that goes beyond the buzz and assesses the actual track record and standing of a company.
The finalists are invited to present their winning strategies at the Red Herring Asia Forum in Hong Kong next month, and the winners will be revealed on September 12.
The New Zealand Red Herring finalists
Aquaflow - cleantech company developing biofuels
Catch Software - software testing solutions for enterprise
TouchSub - dynamic digital signage
Vensa Health - interactive mobile health communication platform and services
VMob - mobile deal offers
WhosOnLocation - visitor management software for corporates, government and construction sites