Hi All,
I am happy to announce launch of second edition of TIE-Canaan Entrepreneurial Challenge.
To refresh memories: In 2006, we invited entrepreneurs (starts ups and early stage companies) to showcase their ventures, short listed 11 businesses and did a final presentation round in front of an expert jury. In the whole process, 11 businesses were mentored using the TiE platform. We got a very good response across the country (more than 100 start ups). The top three winners were facilitated during TiE Annual summit and taken to a workshop to Insead Business School (Singapore). The whole series was aired on CNBC TV18 multiple times.
A similar event has been planned for this year. Participants will need to download and submit their applications from the contest website. The deadline for submission of the business plan applications is May 12, 2008. Eight (8) teams will be shortlisted based on their potential scale of the business, strength of the team and sustainable differentiation in the business model. These shortlisted applicants will be invited to participate in the final round in the month of June (2008) which will see them presenting their plans and ideas in detail to an eminent jury of the country’s leading entrepreneurs and corporate heads.
I will keep you posted on various dates around the event, benefits to finalists and other news.
Regards,
Mukul
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This is an interesting concept. Even if start-ups do not get funding they do get the exposure from mentoring by industry experts. And I’m sure down the line on eof the plans will make it to the funding stage. I will link your page to our blog for business visitors to make use of it.
Deeps – It’s open for pre revenue companies but not for paper based business plans. There has to something on ground – prototype, pilot customers etc
Darren – The platform was never positioned as a funding platform. Also, a company has also a life cycle before any institutional funding takes place. For example: It needs help and value addition in winning its first customer, implement first PR exercise, get a good mentor and many more things. I think this platform provides help in that direction. However; our hope is that thru this we can churn some companies which can be funded (by any VC) and finally become successful. However; will this happen in first year, second year, third year – I don’t know. This is an evolving exercise. I hope it helps.
Mukul, you awarded the winners with prizes, took them to INSEAD, got them TV coverage, BUT, never funded them? Why?
Hi Mukul, Alok
Is this challenge open to Entrepreneurs who are pre-revenue, and just started.
Please do let me know.
Thanks
Deeps