The Angel Investors Network would help young start-ups to have access to early stage funding which would help encourage the young enterprises to establish themselves and grow. Partap Aggarwal, President of TiE informed that PTU had given the mandate to TiE-Chandigarh Punjab Chapter to setup entrepreneurship nodal centres in their colleges, and five of them have been made functional to nurture young talent in the entire PTU ecosystem. He said that TiE is a global not-for-profit organization fostering entrepreneurship through its 64 chapters worldwide (16 in India).
Meanwhile, at the Tie Global Day organized at PHD House here today, RIMT bagged first spot in Tie-PTU Chandigarh Chapter of TiE in the TiE-PTU Business Plan Competition. Ashok Rao, the Chairman along with P.K. Agarwal, President of TiE Global from USA gave away the awards. The team comprising Jaspreet Singh and Navneet Singh of RIMT Institute of Engineering & Technology, Mandi Gobindgarh, bagged the first prize for their FERobotics flexible and economic robotics to help small scale industry to automate their production at a low cost.
The team at the second place was from Chandigarh Group of Colleges, Landran comprising Shivam Bagga, Ankush Kalra and Neeraj Saini, who presented the business idea for Budding Bees providing hobby activity classes for 18 months to four year old children, Sonali Shrivastava and Shivam of SUS Tangori, presented business plan for Code Learning in a fun way that was adjudged third.
For record, TiE had announced the business plan competition last year and 31 entries were received out of which 13 were shortlisted for the competition out of which a team of jury comprising Ernst & Youngs Director Paras Arora, TiE charter member J.B. Singh, and CEO of PTU nalanda School TQM & Entrepreneurship Manish Trehan, adjudged the finalists. TiE Chandigarh-Punjab Chapter and PTU provides Rs.50,000, Rs.30,000 and Rs.20,000 in prize money to all the three winners respectively, who would also get the opportunity to represent India in the international business plan competition being hosted by Rice University, USA.