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August 21, 2004

Profile of IIT-B incubated EDA firm

Express Computers magazine has profiled Powai Labs, an EDA tools provider that is being incubated at IIT-Bombay's "KReSIT".

An extract:

Says Reapan Tikoo, chief executive officer, Powai Labs, “Today, there is no tool which can cater to the need for a desktop simulation accelerator. We see IMAGE 2.5 (2.5 million gates) and IMAGE 1.2 (1.2 million gates) fulfilling this need. We are selling IMAGE 2.5 at $75,000 and IMAGE 1.2 at $32,000. With our products, a chip design company can get its chips validated at one-tenth of the existing cost.” The price advantage arises because the company’s technology utilises off-the-shelf components. Tikoo also says that the product enhances the speed of simulation, thereby increasing the productivity of every engineer.

Significantly, unlike any other company, Powai Labs plans to support every client with a dedicated support engineer at each client site—at no extra cost. Not only does this increase customer satisfaction, it also provides Powai Labs with important feedback which it uses to enhance the features of its products. Since the start-up is currently working with top design houses, it hopes to incorporate what it learns into its products, which have been received very well in the industry. Three of the top five silicon design companies have already validated its products. A leading MNC expressed a desire to buy the company, but Tikoo politely refused as he believes that Powai Labs is on the verge of becoming a global player.

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