Industry & Economy
-
Entrepreneurship
States
-
Tamil Nadu
TiE commits to fund music retailing start-up
Our Bureau
Chennai, Aug. 20 Five Charter Members of the Chennai chapter of TiE (The Indus Entrepreneurs - a non-profit global network of entrepreneurs and professionals, established to foster entrepreneurship and nurture entrepreneurs) have come together and announced the signing a letter of intent to seed-fund a company that focuses on retailing of portable digital music through a network of digital vending machines.
Recently, TiE Chennai had launched an Entrepreneur Acceleration Program (EAP) which included training and development, mentoring, incubation and access to funding through The Chennai Fund. This fund has been brought together by the Charter Members of the chapter where Rs 5 lakh from each of these investors go towards mentoring, training and development and a minimum of Rs 20 lakh from each of these investors go to funding start-ups located primarily in Chennai and other parts of Tamil Nadu.
Mr Gopal Srinivasan – Director TVS Electronics and Chairman CII Tamil Nadu State Council; Mr R.Ramraj, President of TiE Chennai; Mr Suresh Kalpathi, Chairman and CEO of SSI; Mr K.B. Chandrasekar, Chairman of e4e; and Mr K. Pandiarajan, Chairman of MaFoi, have committed to seed-fund Mango Digital Vending Machines Network Pvt Ltd (Mango DVM). EAP was launched in collaboration with IIT Chennai that would provide access to an incubation centre, Loyola Institute of Business Administration and Great Lakes Institute of Management that would help in training and development of the entrepreneurs.
More Stories on :
Entrepreneurship |
Music & Dance |
Tamil Nadu
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
