RIMT Bags First spot in TiE-PTU Business Plan Competition

By 121 News Reporter

Chandigarh, 2^nd September:--  Chandigarh Chapter of TiE (The Indus Entrepreneurs) celebrated the TiE Global Day today at PHD House and announced the winners of TiE-PTU Business Plan Competition. Ashok Rao, the Chairman along with Mr. P.K. Agarwal, President of TiE Global from USA gave away the awards. The team comprising Jaspreet Singh and Navneet Singh of RIMT Institute of Engineering & Technology, Mandi Gobindgarh, bagged the first prize for their FERobotics – flexible and economic robotics – to help small scale industry to automate their production at a low cost.

The team at the second place was from Chandigarh Group of Colleges, Landran comprising Shivam Bagga, Ankush Kalra and Neeraj Saini, who presented the business idea for 'Budding Bees' providing hobby activity classes for 18 months to four year old children, Sonali Shrivastava and Shivam of SUS Tangori, presented business plan for Code Learning in a fun way that was adjudged third.

TiE's chapter President Partap Aggarwal informed that TiE had announced the business plan competition last year and 31 entries were received out of which 13 were shortlisted for the competition out of which a team of jury comprising Ernst & Young's Director Paras Arora, TiE charter member J.B. Singh, and CEO of PTU nalanda School TQM & Entrepreneurship Manish Trehan, adjudged the finalists. TiE Chandigarh-Punjab Chapter and PTU provided Rs.50,000, Rs.30,000 and Rs.20,000 in prize money to all the three winners respectively, who would also get the opportunity to represent India in the international business plan competition being hosted by Rice University, USA, he said.

Ashok Rao, Chairman of TiE Global, USA, who is a serial entrepreneur and currently chairman of Whodini, Inc, and also on the Board of the Jones Business School of Rice University which organizes annual business plan competition that provides over US$3 million in funding, informed that last year TiE had sponsored one startup Beta Glide, which secured US$ 1 million in funding. He complimented the Chapter for developing meaningful programmes in the region and encouraging entrepreneurship, especially setting up of five Entrepreneurship Nodal Centres in the Punjab Techincal University's constituent and affiliated engineering and management colleges.

This would help encourage entrepreneurship amongst the students, said P.K. Agarwal, CEO of TiE Global USA, while presenting certificates to the five nodal officers of Giani Zail Singh College in Bathinda, Beant College of Engineering & Technology Gurdaspur, SUS Tangori, PTU Nalanda School of TQM & Entreprenursip, Mohali, and Guru Nanak Institute of Management and Technology Ludhiana.

Partap Aggarwal informed that PTU had given the mandate to TiE-Chandigarh Punjab Chapter to setup entrepreneurship nodal centres in their colleges, and five of them have been made functional to nurture young talent in the entire PTU ecosystem.