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The Indus Entrepreneurs (TiE), the global network of entrepreneurs and professionals hailing from India, will soon set up an incubation facility here. The 50-seater facility could incubate 5-6 start-ups at a time.
“After six months of incubation, we will help them graduate into the next level for about one year. After that, we will help them in going to market and other important aspects,” Sachin Tummala, a TiE functionary and Managing Director of Corpus Group of Companies, said.
The TiE has a membership base of 500 in Hyderabad, including 150 entrepreneurs. “Initially, we would look at incubating and helping start-ups in the areas of information technology, internet, mobile technology and renewable energy,” he said.
In another initiative to help start-ups, TiE has tied up with the Indian School of Business (ISB), to hold a three-day meeting in September. “It is going to be the biggest such event in Hyderabad in the area of supporting start-ups. About 100 investors would take part in the event, where 200 firms are pitching for funds,” Ananth Rao, a TiE leader and Chief Executive Officer and Managing Director of Focus Ventures, said.
The TiE has already announced a schedule to invite and short-list the proposals. “The final 20 proposals would go to the September summit.” He was speaking on the sidelines of Startup SmashUp.
The winner would get a prize money of Rs one crore from Sri Capital and Hyderabad Angels.
Start-up SmashUp
The SmashUp event, a rendezvous for start-ups with successful entrepreneurs and investors, is organised by TiE, IIIT (Hyderabad), Hyderabad Angels and ITsAP (IT and IT-enabled services firms association), every four months.
Mr Srini Raju, Managing Director of Peepul of Capital Advisors Group, related his experience as an entrepreneur and investor.
“One should know about the market and competitors in which they operate, also academic degrees and background don’t guarantee success,” he said.
> kurmanath.kanchi@thehindu.co.in
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