TyE program (TiE Young Entrepreneurs) , the program for high school students to come up with business ideas made its global debut last week at MIT.

TyE, the TiE-Boston’s signature program for high school students in the year 2010 culminated with the TiE Boston team walking away with the first prize both at the local as well as the global level.  The winner of the TyE Global $25K 2009-2010 Business Plan Competition was: EnerLyze from the TyE Boston Chapter. The business idea of Enerlyze was to develop a unique solution for reducing electricity costs by 40% in residential homes that would have a payback period within less than 4 months. It tackles the worldwide energy crisis by using sophisticated behavioral science algorithms.

TyE Global made its debut this year at MIT and Geetha Ramamurty, Chairperson of TyE global said “We appreciate the passion, hard work and dedication of the organizing committee members from the participating Chapters that contributed to the grand success of TYE Global initiative. We are committed to expand TyE Global in its scope by utilizing TiE’s local and global resources, and make it the world’s leading entrepreneurship program for youth”.

 The Final pitching and judging of this year’s TyE 10K Business Plan competition was held on April 10th 2010. Six outstanding teams (ENERLYZE, IMAGEN, iCAPITALIST, SALVAVERDE, HOUSE 2 HOME, VIA INC) with business plans spanning a whole array of themes and sectors participated. For the first time three prizes of 5K, 3K and 2K were awarded.
First Prize: ENERLYZE
Participants - Parth Amin, Abhi Ashutosh, Swetal Bhatt, Devika Ranjan, Aditya Yadavalli 

Second Prize: VIA INC.
Participants - Mayank Dubey, Vishurth Reddy, Sean Stempler, Subbarao Yalamanchilli

Third Prize: SALVAVERDE
Participants - Poornima Aggarwal, Sapna Contrator, Surya Menon, Pranav Nanda, Sunny Reddy

Other Teams
HOUSE 2 HOME
Participants - Naman Aggarwal, Pratibha Irudayraj, Michelle Joella, Gautam Sudhir

iCAPATALIST
Participants - Anish Athalye, Nishant Kadimdiwan, Malhar Teli

IMAGEN
Participants - Samip Desai, Avinash Radhakrishnan, Saniya Shah, Tejas Shroff

Eswar Priyadarshan, CTO & Co-Founder, Quattro Wireless delivered the keynote speech and the Guest Speaker was Akhil Nigam, Founder & President, Mass Challenge. Jaishree Deshpande gave away the three prizes to the winners.

TyE Global Competition:

TyE Global $25K Business Plan Competition was held on Saturday, April 17, 2010 at MIT in Cambridge (Boston), Massachusetts.  The winning team from participating chapters, Boston, Carolinas, London and Seattle participated.  The team from Carolinas and Seattle traveled to Boston and presented live.  The team from London presented via satellite.  The teams presented to a panel of distinguished judges, who are senior executives and partners of VC, legal and Banking institutions and a serial entrepreneur.

 
TyE Boston
Company: Enerlyze - Energy Demand Management
Team: Parth Amin, Abhi Ashutosh, Swetal Bhatt, Devika Ranjan, Aditya Yadavalli.

Mentor: Ash Ashutosh

TyE London
Company:  Spice - Food Technology Lessons Package for Schools
Team: Aahnaf Hossain, Bhavini Mehta, Rebecca Moylan, Aisling O'Brien, Lizzie Sullivan           
Mentor: Vinay Kashyap, Senior Associate, Summit Partners Limited
 
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 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

Geetha Ramamurthy, Chairperson, TyE Boston and TyE Global appreciated the passion, hard work and dedication of the organizing committee members from the participating Chapters that contributed to the grand success of TYE Global initiative. “I want to take this opportunity to recognize and thank the members of the TyE Boston team (Mitha Andra, Shantanu Dhaka, Shankar Hegde, Hooman Hodjat, Suneha Kadimdiwan, Roma Mayur, Shyam Ramamurthy and Vanita Shastri) and TyE Global team (Somnath Chatterjee and Shilpa Baliga) for their dedication, hard work and support” she said.  I appreciate Apurv Bagri, Former Chairman, TiE Global and Suren Dutia, CEO, TiE Global for giving me the opportunity to lead the TyE Global program.

Vanita Shastri, Executive Director of TiE Boston, added that the winning team will use its resources to expand and support their business idea further and hoped that the competition will encourage future entrepreneurs to join the program.

 â€œAlthough one winner emerged, we believe all teams and students are true winners for completing the program.  Each of the student received a certificate of participation in this TYE Global Program.  All ideas were  excellent and particularly of relevance  and usefulness in today's world .  The students make us proud said Roma Mayur, Co-chair, TyE Boston


TyE Global awards ceremonies will be held at TiECON EAST (May 27-28).  Where the TyE Boston team, the winner of the 2009-2010 TyE Global $25K Business Plan Competition will receive its prize.

|