TiE DC Promotes the Next Generation of Entrepreneurs with 5th Year of TYE Boot Camp and Business Plan Competition
TiE DC was pleased to welcome a new cohort of young entrepreneurs with the 2016 TiE Young Entrepreneurs (TYE) Boot Camp and Business Plan Competition. This is the fifth year the free program has been offered for area high school students with the generous support of Platinum Sponsor, Sanjay Govil of Infinite Computer Solutions, and program host and educational director, Mahesh Joshi of George Mason University.
This year’s class of 23 students attended the boot camp on Saturdays through February and March covering product development, financial models, team building, sales and marketing, business plan development, fundraising and pitch presentation skills. The students formed four teams and prepared for the business plan competition on April 9. Innovative company teams included:
- College Pathway – mobile, college preparation app to help students determine colleges that are the best match for them, manage application requirements, organize content, and enable recruiting communications.
- ConnectVid – video resume and job posting solution to connect young applicants with companies and recruiters to enable greater interaction earlier in the hiring process.
- Penserazi – automated prescription delivery system with internet-connected dispenser and mobile application to ensure medicinal adherance.
- Spry – mobile phone case that transforms kinetic energy from body movement to charge a battery inside the case and store energy for later use.
TiE DC Competition
Judges Anjana Arora of Infinite, Raj Khera of MailerMailer and TiE DC President, Satyam Priyadarshy, sent Penserazi and Spry into a two-way tie for first place, and another month to prepare for a final competition to determine which team would represent the DC chapter in the global competition.
Students were awarded certificates of completion and cash prizes totaling more than $7,000, and encouraged to continue their pursuits with offers of support on patent provisioning from Raj Davé of Pillsbury and mentoring by TiE DC members. Participants and their parents described TYE as a truly memorable and educational program, with tremendous value.
TiE DC Finalists
On May 22, teams Spry and Penserazi met again for the finalists’ competition. Judges included two former TiE DC presidents, Dolly Oberoi of C2TI and Paul Singh of Rezon8 Capital, and Chandru Rajam, Vice Provost at The College of New Jersey and founder of Cambrian EdVentures. After two outstanding presentations, the judges made the close call to send Spry to represent TiE DC at the global competition in Portland, Oregon.
TiE Young Entrepreneurs Global Competition
On June 23, team Spry was off to Portland along with their mentor Professor Joshi, to compete against 20 TiE chapter teams from around the world. TiE Oregon hosted the two-day event, where competing teams were given 15 minutes to present to judges and 10 minutes for Q&A. Students were thrilled to meet fellow aspiring entrepreneurs, and enjoyed making new friends. TiE DC’s Spry won Best Elevator Pitch.
We’re very proud of all of our students and congratulate team Spry! We look forward to seeing our young entrepreneurs at future TiE DC events.