Are you an entrepreneur with great business idea? Is your business gaining traction? Do you want mentorship, financial support, networking to grow your business? TiE, a non-profit global organisation, is helping entrepreneurs and professionals to network which fosters entrepreneurship and nurture entrepreneurs.
Talking about the facilities provide by TiE for budding entrepreneurs, Murali Bukkapatnam, president, TiE Hyderabad, said, “The support and mentorship is given to the entrepreneurs who had taken their idea to next level. Starting an enterprise and gaining traction shows the seriousness and commitment of the entrepreneur towards his aim.
“If the entrepreneur becomes an associate member with TiE, he can get valuable guidance from the mentorship committee which consists of charter members (successful veteran entrepreneurs, corporate executives and senior professionals). There are around 35 charter members from different industries who are willing to mentor the budding entrepreneurs.
“One of the bottlenecks for budding entrepreneurs is guidance and mentorship. As these chartered members have already expertise in the field, they help the budding entrepreneurs to move in the right direction. They know the odds and difficulties which are going be faced by these budding entrepreneurs. TiE is also playing active role in making students realise entrepreneurship as a career option. We want to kindle the spirit and build confidence among the students.”
Talking about hurdles in entrepreneurship, he says, “Some entrepreneurs don’t want to spend money on legal procedures such as agreement between the partners. This will put them in huge legal and financial trouble in the future. Many start-ups venture without proper research and not checking viability of the revenue model, and not proper execution.”
TiE is also working as a networking platform. “We conduct an event every month where in famous industrialists or charter members share their expertise to the associate and student members. This will also foster networking among the charter members and others. Surprisingly many charter members invested in the companies of the associate members which not only help the associate members to get valuable guidance and also financial support. Some of the members at TiE have started Hyderabad Angles which invests in viable business models,” he says.
The annual event of TiE ISB connect also attracts venture capitalists and angel funding for the prospective successful entrepreneurs. TiE acts as a bridge and does matching between the entrepreneurs and investors in accordance with the level of investments needed by the enterprises.
TiE Hyderabad is going to start incubation centre next month which helps budding entrepreneurs with office space and also to make financial support from charter members formal.