Life is back to square one for Mr Shankar Narayanan co-founder of the US based eMuzed a provider of multimedia solutions to PC and embedded (Mobile and consumer) OEM's. Only this time, he has a few millions on hand. Founded in 2000, eMuzed has development centers in Bangalore and Chennai, besides California. It was subsequently acquired by Flextronics - a global leader in EMS – in February 2005.

Having delivered his commitments to Flextronics and having seen eMuzed products sizzle the screens of a growing long list of leading mobile brands including Nokia, Samsung, Panasonic, Siemens and BenQ. Mr Shankar is now ready to look at new horizons.

He is now gearing up to float a new venture to focus attention on developing intellectual property based GPS ( Global Positioning System) products, which he thinks have a strong future. Along with that, he is also setting up venture capital fund to tap small IT firms with potential to make it big.
He said the new venture will focus on products and systems development, which includes the hardware, software and intellectual properties. When we combine all these three, we can create better value, he points out. “India is not an IP country not as yet. Where as Israel is. Despite having so many software engineers, we are not able to generate as much revenue as Israel does from this front,”, Mr Shankar observed.

Though the new company too will be US-based, to facilitate sales and marketing as well as for “raising funds”, the operations will be based out of Chennai. “We will also establish development centres in tier II cities like Madurai, Coimbatore and Tiruchi, “ says Mr Shankar who himself hails from Madurai. Initially founded with $7 million raised from angel investors, eMuzed built a strong customer base and was ready to catapulted to the next level. That's when Flextronics took eMuzed under its fold.