TyE or TiE Young Entrepreneurs is a TiE-Boston signature program to teach entrepreneurship to high school students. This year the program was expanded to other TiE chapters and held its first TyE Global Business plan competition for youth.
TyE Global $25K Business Plan Competition was held on Saturday, April 17, 2010 at MIT in Cambridge (Boston), Massachusetts. The winning team from participating TiE chapters, Boston, Carolinas, London and Seattle participated. The team from Carolinas and Seattle traveled to Boston and presented live while the team from London presented via satellite. The teams presented to a panel of distinguished judges, including senior executives and partners of VC, legal and banking institutions and a serial entrepreneur. Each team was evaluated on their business plan and presentation. The four teams that represented each chapter by winning the local chapter competition were:
TyE London
Company: Spice: Food Technology Lessons Package for Schools
Team: Aahnaf Hossain. Bhavini Mehta, Rebecca Moylan, Aisling O'Brien, Lizzie Sullivan
TyE Carolinas
Company: HealthBeats : A Not For Profit - Educating Teens About Healthy Choices
Team: Rangoli Bhattacharjee, Divyansh Gupta, Bhavna Singh
Mentor: Shishir Shonek, Vice President, InContext, Inc.
TyE Boston
Company: Enerlyze: Energy Demand Management
Team: Parth Amin, Abhi Ashutosh, Swetal Bhatt , Devika Ranjan, Aditya Yadavalli,
Mentor: Ash Ashutosh, CEO, ActiFio
TyE Seattle
Company: KANA - Unique Water Bottle for Health Conscious Individuals
Team: Arnavi Chheda , Joy Hsu, Irena Lam, Diane Liu
Mentor: Gaurav Oberoi, Precision Polling, CEO
The winner of the TYE Global $25K 2009-2010 Business Plan Competition was: EnerLyze from the Boston chapter. We at TiE-Boston are overjoyed to be the winners.
The business idea of Enerlyze is to develop a unique solution for reducing electricity costs by 40% in residential homes and have a payback period within less than 4 months. It tackles the worldwide energy crisis by using sophisticated behavioral science algorithms.
It's with the dream to bring entrepreneurship and its nuances to High school students that the TyE program was started in 2005. Over these five years about 140 students have participated in the program from over 25 local schools. Its mission is to provide an environment and ecosystem for young people to dream of becoming entrepreneurs and business leaders. In the Boston chapter, this year, over 27 students from area high-schools spent Saturday mornings learning what it means to be an entrepreneur. As part of the TyE program, students also participated in a 10K Business Plan Competition where teams presented their business plan to a panel of judges from the TiE ecosystem. Three winning teams were awarded cash prize of $5K, $3K and $2K.
Six teams from this year's class presented their final pitch at a TyE Gala ceremony on April 10, 2010. Their business plans spanned through a whole array of themes like energy demand management, online furniture remodeling, revolutionizing shopping experience and connecting entrepreneurs through web based portal.
Chief Guest, Jayshree Deshpande announced the winners where Enerlyze, an energy demard management solution won the first prize. Via Inc. won the second prize and Salvaverde won the third prize. We were also honored by the gracious presence of Navjeet Bal, Commissioner, Massachusetts Department of Revenue at the event.
Our keynote speaker, Eswar Priyadarshan, CTO & Co- Founder of Quattro Wireless had some key lessons for aspiring entrepreneurs. He said, "Always make a product that everyone uses, open your eyes to the rest of the world, align your path to how your company makes money and success is much bigger than you are."
Guest speaker Akhil Nigam, Founder & President, Mass Challenge said, "Entrepreneurship is all about creating opportunities in professional and personal life for yourself and other people."
Four of our TyE Alumni students who started their new venture joined TyE Gala ceremony on Saturday. Mohini Srivastav and Kyle Kahveci who won the business plan competition in 2007 started myskylark.com which integrates all online teenagers' activities on to one platform. Naman Bharadwaj, a 2009 winner along with Prate
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