PeerNova, Inc. has revealed that it has been selected as a “2016 TiE50 Winner” for the TiE50 Technology Awards Program. Winners were announced on May 6th at the organization’s annual entrepreneurial conference, TiEcon. Executives from PeerNova accepted the award and delivered a presentation on the company’s current technology to TiEcon attendees.

The Silicon Valley-based technology company was founded by entrepreneurs with a focus on distributed systems, networking solutions, big data, compiler technology and financial services. Members of the team have previously had experience at Intel, Qualcomm, Visa, IBM, Google, and HSBC. The group has deployed blockchain technology to create an immutable ledger with built-in audit, scale, and other capabilities necessary to help organizations store, secure, and validate data while maintaining the enterprise-class controls they desire.

Naveed Sherwani, president and CEO of PeerNova, stated: “We are honored to win the TiE50 Top Start-up award amongst many esteemed companies and impressive technologies. This recognition is a testament to the vision of our company and the hard work of our dedicated employees.”

Program co-chair, Karpagam Narayanan commented: “TiE50 has become a global brand that attracts thousands of companies worldwide. We screened more than 2000 companies this year and selected the most innovative 70 companies as 2016 TiE50 Top Start-ups. TiE50 presentation audiences are treated to amazing ideas and disruptive technologies. The TiE50 Program is one of TiE Silicon Valley’s most successful programs. This year, the screening committee included 47 judges who are highly accomplished domain experts, senior executives, venture capitalists, and marquee tech entrepreneurs. The TiE50 program’s track record since its inception in 2009 shows an overwhelming 92% percentage of start-ups to get funded within one year of being recognized! About 130 Top Start-ups had successful exits so far.”

President-elect and program co-chair, Ram K. Reddy remarked: “TiE Silicon Valley will continue to mentor and support these companies throughout the year by offering guidance and connectivity to our broader ecosystem.”