Two Indian-American founded companies figure the World Economic Forum's list of 29 companies selected as 2005 Technology Pioneers declared on Monday.

S V Sreenivasan-led Molecular Imprints Inc and Vanu Bose-led Vani Inc secure the pride of place in the prestigious list of companies, whose products range from anti-terrorism software to possible treatments for cancer and Alzheimer's.

The world's leading venture capital and technology companies nominated these tech pioneers.

• India and the World Economic Forum

A panel of leading technology experts appointed by the WEF made the final selection from 114 nominees.

To be selected as a Technology Pioneer, a company must be truly innovative; it must have a potential long-term impact on business and society; it is expected to show the signs of a long-term market leader; its technology must be proven; and it must have visionary leadership.

The 29 Technology Pioneers 2005:

Molecular Imprints Inc provides enabling lithography systems and technology for manufacturing applications in the areas of: nano devices, micro structures, advanced packaging, bio devices, optical components and semiconductor devices.

The company has pioneered the market for 'Step and Flash' imprint lithography, and has commercialized the first system in 2002. 'Step and Flash' is a low cost alternative to optical and e-beam lithography applications.

MII systems are being used in both academic and industry research labs. Motorola became one of the first to use MII's system in their labs.

Vanu, Inc. evolved out of the SpectrumWare group at MIT to explore the commercial feasibility of building software radios using object oriented computer languages running in application space on general-purpose processors. Since the company's inception in 1998, it has developed significant intellectual property in the form of software and reference architectures that are now being refined for broad commercial application.

It provides system design and engineering consulting services in combination with licensable system architectures and waveform application software. It also develops portable waveform software that runs on POSIX compliant operating systems and general-purpose processors.

Previous Technology Pioneers have included: Autonomy, Cambridge Silicon Radio, Encore Software, Google, Millennium Pharmaceuticals and Napster.

"It is not enough for companies to have developed a great technology these days," said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. "Timing is intrinsically important in deciding which technologies are successfully integrated into society. History shows us that successful technologies fulfilled an empty but important niche. These 29 companies are clearly addressing societal needs."

This year's winners reflect a population that is ageing, is weaning itself off a finite supply of fossil fuels and demands that technology increasingly be smaller and more mobile.

Apax Partners, a Strategic Partner of the World Economic Forum and the Technology Pioneer programme, published on Monday the third Technology Pioneers report, The right side of the future.

Dr Peter Englander, Partner at Apax Partners Worldwide LLP, said: "This generation of Technology Pioneers has focused on four major trends which we believe provide great opportunities: global demographic shifts, an impending energy crunch, the switch from fixed to mobile devices and heightened security concerns. It is always difficult to identify how these technologies will ultimately shape our future; but there is greater opportunity for success in addressing these issues."

The Technology Pioneers programme is run by the World Economic Forum with guidance from Apax Partners and Deloitte Touche Tohmatsu.

Konarka Technologies, whose success has also had Indian-American input also figures in the list. Konarka Technologies is a technology company with over forty patents and technology licenses, a world-class team of scientists, and the backing of leading investors. It is an innovator in developing and manufacturing breakthrough products that convert light to energy, providing a source of renewable power in a variety of form factors for commercial, industrial, government and consumer applications.

Konarka is focused on the development and commercialization of photovoltaic cells that are lightweight, flexible and more versatile than previous generations of products.

The company's name derives from the Konarka Sun temple in Orissa         and the firm says that it works in memory of late Dr Sukant K. Tripathy, a chemistry professor at the University of Massachusetts, Lowell, and Founder of the Center for Advanced Materials.

The World Economist Forum started the Technology Pioneers programme in 2000, with Deloitte Touche Tohmatsu and Apax Partners as Strategic Partners, with the goal of identifying and integrating companies involved in the development of potential life-changing technology innovation. Once selected, Technology Pioneers are fully integrated into Forum activities, and can meet with scientist, academics, NGOs, and Forum members and partners to discuss and debate the impact of technology innovation on society and business.

Apax Partners is one of the world's leading private equity investment groups, operating across Europe, Israel and the United States.

Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries.