TiE-Boston is pleased to announce the launch of TiE-Challenge 2013, a start-up accelerator program to help entrepreneurs turn great ideas into real companies. In its second year, TiE Challenge is looking to expand on the successes of last year.

TiE Challenge 2013 applications opened on February 7, 2013 and will continue to accept applications until April 7.  All first-time entrepreneurs no matter what stage, industry, and/or capital requirements are encouraged to apply.

Ian Lamont, founder of i30 Media and a TiE Challenge 2012 participant, said “I had discovered a group of special people who were not unlike ourselves, and were there to help support new ventures grow and achieve success.”

A screening committee will select 20 finalists to present on May 2^nd at the annual TiECON East conference. The selected companies will present to a panel of seasoned entrepreneurs, venture capitalists, and angel investors who will declare five winners. The top 5 companies will receive a cash award, opportunity to use office space in Kendall square and a fast track ability to present to TiE Angels.

The top 20 companies will enter the TiE Challenge 2013 program that includes monthly networking events, targeted advisors, and the opportunity to present to TiE-Angels for potential investment.

 â€œWith the successful completion of TiE Challenge’s first year in 2012, I’m looking forward to another exciting year of helping new entrepreneurs navigate their entrepreneurial journey,” said Prat Moghe, TiE-Boston President. “A full year of mentorship for early-stage entrepreneurs gives them a far greater chance at success than almost any other prize that can be offered,” he added.  

 â€œThe unique strength of TiE is its large base of charter members, who are successful business leaders and entrepreneurs who want to give back to the community. The mission at TiE Challenge is to develop long-term connections between entrepreneurs and its Charter members.  Each TiE Challenge winner in essence gets guidance from charter members experienced in their industry, helping them accelerate their business plans”, said Ramji Raghavan, TiE Challenge Chair.

Vineet Sinha, whose company Architexa was one of the Top 20 in 2012, said “TiE Challenge has been extremely helpful in terms of what investors want, what our users want, how to phrase it to our customers, and how to connect to customers.”

The TiE Challenge 2012 companies were remarkable in their diversity and quality.  Companies ranged from food and fashion to education, clean tech, and life sciences. 7 TiE Challenge companies were also Mass Challenge finalists. Many of the companies are seeing great success through a launch (Likelii & Mobee), expansion (Biena Foods, FuelEd, Greenbean Recycle), winning Mass Challenge (Cellanyx Diagnostics & Ministry of Supply) receiving funding (FuelEd, Ministry of Supply, Mobee), or getting more media attention (Delightfully, Greenbean Recycle, Ministry of Supply, Mobee)  and all within the past year!

The TiE Challenge model is to develop long-term relationships with emerging entrepreneurs, as was evident with the recent funding of Mobee by TiE Angles.

Radhika Dutt, founder of Likelii and winner of TiE Challenge 2012, recently said at the TiE VC Outlook Dinner, “I truly want to thank the TiE organization for what they have put together here. It’s been absolutely wonderful in terms of the advice and support that we’ve gotten and all the time and effort they have put into it. Now that we are entering the next phase of our growth, we look forward to being part of the program and contributing back to the next set of companies in TiE Challenge.”

“I’m pleased that TiE is the only organization in the country offering such extensive mentoring and support to entrepreneurs. Our charter membership includes 150 proven entrepreneurs who understand the personal challenges and rewards of entrepreneurship better than most and I am looking forward to develop this program even further this year,” said Vanita Shastri, Executive Director of TiE Boston.

If you have a great idea and are looking for help to take it to the next level, apply to TiE Challenge. You too can experience the success that TiE Challenge 2012 companies have gone through! All first-time entrepreneurs, regardless of their company’s growth stage, industry, and/or capital requirements are encouraged to apply.

About TiE Challenge: A Startup Accelerator program to turn great ideas into real companies. TiE Challenge offers first-time entrepreneurs 2-for-1 opportunity: help from top Boston entrepreneurs AND access to capital. The top 20 companies are chosen for a 9 month in-depth program run by TiE Charter member’s which includes; dedicated advisors, office space, attend all TiE events and the opportunity to present to TiE-Angels for potential investment.

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