Release Date: 03/05/2014
TiE Challenge 2014, a start-up accelerator program where entrepreneurs accelerate entrepreneurs, will accept applications until May 9. All first-time entrepreneurs no matter what stage, industry, and/or capital requirements are encouraged to apply.
Ian Lamont, founder of i30 Media and a TiE Challenge 2012 participant, said “I had discovered a group of special people who were not unlike ourselves, and were there to help support new ventures grow and achieve success.”
A screening committee will select 20 Winners to present on May 29th at the annual TiECON East conference. The selected companies will present to a panel of seasoned entrepreneurs, venture capitalists, and angel investors who will declare 5 Champions. The 5 Champions will receive an award, opportunity to use office space in Kendall Square, and a fast track ability to present to TiE Angels.
The 20 Winners will enter the TiE Challenge 2014 program that includes monthly networking events, targeted advisors, and the opportunity to present to TiE-Angels for potential investment.
Pravin Bansal, whose company TFC BioSciences Inc was part of TiE Challenge 2013, said “Being a first-time entrepreneur, TiE-Boston has been invaluable in getting me plugged into the matrix and thinking about things I had not thought of before.”
The TiE Challenge companies are remarkable in their diversity and quality. Companies have ranged from food and fashion to education, clean tech, and life sciences. TiE Challenge 2013 companies have had great success this past year, making great progress and impacting the entrepreneurial eco-system in Greater Boston. ViralGains & 3Dim were winners at MassChallenge. Cognii and Gradeable were part of the first class of the LearnLaunchX program. Drinkwell won the Boston Princeton Entrepreneurship Network Business Plan Competition, the Headwater Innovation Prize at SWIM and came in 2nd at the ForSE 2013 Pitch Competition. Mindful Scientific was a winner of the YEi Competition and a North American Regional finalist in the IBM Global Entrepreneur Competition.
65% of the TiE Challenge 2013 companies have raised funding this year including EnergySage, who received a $1.25M grant from the Department of Energy. Viral Gains raised over $700,000 from multiple sources. Gradeable, Nyopoly, and Sitefly raised $180,000, $25,000, and $200,000 respectively.
TiE Challenge 2013 companies together they have generated revenues of over $1,102,000, raised $3,333,000, and created 68 new jobs, for the Commonwealth just in the past year!
Ying Tam, CEO of Mindful Scientific and Champion of TiE Challenge 2013, said “TiE Challenge is a worthy investment of time. The TiE organization is pretty incredible; it is nurturing and there is a clear desire to help the entrepreneur. I would tell any upcoming entrepreneur that they should apply to TiE Challenge and pursue it aggressively.”
“The unique strength of TiE is its large base of charter members, who are successful business leaders and entrepreneurs who want to give back to the community. The mission at TiE Challenge is to develop long-term connections between entrepreneurs and its Charter members. Each TiE Challenge winner in essence gets guidance from charter members experienced in their industry, helping them accelerate their business plans”, said Ramji Raghavan, TiE Challenge Chair.
If you have a great idea and are looking for help to take it to the next level, apply to TiE Challenge. You too can experience the success TiE Challenge companies have gone through! All first-time entrepreneurs, regardless of their company’s growth stage, industry, and/or capital requirements are encouraged to apply.
For more information on TiE Challenge and to apply to the program, visit http://stagetie-boston.org.