TiE Announces Winners of The Young Entrepreneurship Business Plan Competition in Dallas
“At TiE we have developed the THINK-PLAN-SELL-MAKE-CHECK-WIN construct to teach kids about how to start a business. Sessions covered Idea Generation, Planning a venture, Selling, Producing the product/service, Preparing a financial plan and Running a venture. It has been exciting to see the students realize their creative potential as they came up with some very innovative ideas and business plans,” says Ram Viswanathan, CEO of Nathan Research and Board member of TiE Dallas who chairs the TYE Program.
TYE weekly classes started on February 2, ran for 10 weeks, and were taught by successful entrepreneurs from the DFW area, who volunteered their time and feel passionate about giving back to the community. Case studies and exercises were led by younger entrepreneurs and student peers who have gone through their own entrepreneurial journeys more recently and can make students relate to their experiences more easily.
Students worked in teams to brainstorm business ideas and develop an operating plan to implement the ideas. Each team was assigned a mentor who guided them in developing their ideas into a viable business plan. More than 25 students formed 6 teams who competed on April 13.
The winning team, called Adhane, is a combination of microfinancing for women who own small businesses around the world and an ecommerce channel to create a market for their products in the US. The second place team was TrustLocker, an online subscription based network of close knit individuals who can vouch for a limited number of others whom they trust and could help in referral based hiring/recruitment. The third place team was Vizon, a wearable electronic device (‘smart cane’) for the blind with an ultrasonic sensor to help them avoid obstacles.
“We are excited to offer the TYE entrepreneurship training program in the Dallas community for the second year and believe it is an enriching supplement to the school systems and the portfolio of educationally relevant programs in the DFW area. It is also a great way to give back to the community, and has received tremendous participation from students and volunteer entrepreneurs alike,” says Nilesh Naik, President at Eagle Circuits and Governing Board Member of TiE Dallas.
The Indus Entrepreneurs (TiE) was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently 13,000 members, including over 2,500 charter members in 61 chapters across 17 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs.