Reliance Technology Ventures Ltd (RTVL), the corporate venture capital arm of Reliance ADA Group announced that it has been honored with two awards by ‘Institute of Economic Studies’ (IES), one of India’s premier research institutes. While RTVL was conferred with the ‘Excellence Award’, the company’s CEO, Mr. Harshal J. Shah, was presented with the ‘Udyog Rattan Award’ to recognize their outstanding contribution to the industrial development of India. The awards were presented by Mr. Korn Dabbaransi, Former Deputy Prime Minister of Thailand at an award ceremony held on 8th October 2009.

Commenting on the award, Harshal J. Shah, CEO, Reliance Technology Ventures Ltd said, “I am both glad for and humbled by these awards. I accept them on behalf of RTVL as an acknowledgement of our dedicated team effort in catapulting RTVL into the league of young and successful Indian VC firms. Notwithstanding some of the challenging times we are witness to, RTVL has managed to make significant strides on a global level and has pioneered the trend of Indian VCs looking outwards. We are India’s first global VC and have been ranked high among some of the other best known global firms in a very short span of time. We will continue to contribute to the overall economic development as well as encourage the spirit of entrepreneurship within the country. We thank IES for recognizing our efforts in this direction and bestowing this honor on us.”

The Udyog Rattan Award and the Excellence Award are conferred by the Institute of Economic Studies, New Delhi annually and works on studying various aspects of the economy and economic development. The institute closely monitors various facets of the economy and individual contribution of various companies and business leaders. Previous recipients of this prestigious award include Vijay Mallaya, Chairman UB Group and Kingfisher Airlines, R Krishna Bajaj, H S Singhania, Chairman JK Tyres and Industries, Dr B K Modi, Chairman & President, Modi Group of Industries, Mr. S.K. Gupta, Chairman and Managing Director, VSNL and Mr. Tanti, Director, Suzlon Energy.

While RTVL invests in sectors ranging from technology, media and entertainment, telecom, cleantech, healthcare and education, it believes in scalable businesses and in innovative models that combine old economy with a technology vector to it. RTVL has a global portfolio to its credit and has invested in promising companies that focus both on established and new technologies that advance the computing, communications, media & convergence platforms. RTVL’s team comprises of professionals with deep operational expertise and adopts a hands-on approach to nurturing and building its portfolio companies to become category leaders.