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TiE Nagpur 2017 International Startup Competition

TiE Nagpur 2017 International Startup Competition

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About TISC

The TiE International Start Up Competition is a 2 track competition in which teams can choose either the Rice University Track or the Investor Track. Those who choose the Rice Track must meet additional eligibility requirements including having at least two student team members on their team, one a graduate level student. The Rice track is open for Europe and Asia teams only. The teams who choose the Investor track may be from North America, Asia, or Europe.

Investor Track:

·         3 Regional Finals: Asia, Europe, and North America

·         Winners from each Region invited to TiEcon Silicon Valley for Global Finals

·         Winning teams receive 2 passes to TiEcon 2017

·         Attend a 1 day Power Boot camp hosted by TiE Silicon Valley

·         Exposure to TiE Angels and VC’s

·         Booth at TiEcon for top 3 Finalists

Rice University Track (Student Track)

About Rice University:

Rice University is consistently ranked one of America’s best teaching and research universities. Its wooded campus is located in the center of Houston, the nation’s fourth-largest city, and home to more Fortune 500 headquarters than any other U.S. city except New York.

Rice University Business Plan Competition:

The Rice University Business Plan Competition (RBPC) is the world’s largest and richest college-level business plan competition. It is hosted and organized by the Rice Alliance for Technology and Entrepreneurship which is Rice University’s flagship initiative devoted to the support of entrepreneurship and the Jesse H. Jones Graduate School of Business. This is the 15th year for the competition. In that time, it has grown from nine teams competing for $10,000 in prize money in 2001, to 42 teams from around the world competing for more than $1.5 million in cash and prizes.

The competition is designed to give collegiate entrepreneurs a real-world experience to fine tune their business plans and elevator pitches to generate funding to successfully commercialize their product. Judges will evaluate the teams as real-world entrepreneurs soliciting start-up funds from early stage investors and venture capital firms. The judges are asked to rank the presentations based on which company they would most likely invest. 76% of judges surveyed considered investing in a team that presented at the 2013 RBPC or referred a team to a third-party investor.

Rice provides an unparalleled experience for the participants by designing a diverse program over the course of three-days; with significant time designated for feedback and interaction with the judging panel.

·         All teams will participate and present on all 3 days

·         Practice Round and Elevator Pitch Competition

·         First Round and Feedback Session

·         Semi-Final, Shark Tank and Final Round

General Requirements for Both Rice and Investor Track

Outside Funding: All ventures MUST be seeking outside equity capital, typically early stage venture investment or early stage angel investment. Except in the case of teams entering the Social Ventures Track, all ventures must be “for profit” entities.

Nature of Ventures: The competition is for new, independent ventures in the seed, start-up, or early growth stages. Generally excluded are the following: buy-outs, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area, and spin-outs from existing corporations. Licensing technologies from universities or research labs is encouraged, assuming they have not been commercialized previously.

Additional Requirements for Rice Track

Student Enrollment: This track is for students enrolled in a degree program (students in certificate programs are not eligible) in the current academic year. Students who graduated in the preceding academic year are not eligible to participate. However, an exception will be made for students who both worked on their business plan or technology in the prior academic year and graduated during the preceding summer, i.e., the summer of 2013. An exception will also be made for students from non-US universities that have a different academic calendar.

Team Size: The presenting team should include at least two students and not exceed five students. (At least two students must ultimately be able to travel to Delhi or Brussels and Houston to compete and both must participate in the oral presentation of the business plan). Non-student team members are welcome to travel to Delhi or Brussels and Rice with the student team, but are prohibited from participating in the presentations or Q&A sessions. More than five students can travel with the team, but only five students can serve as presenters. Faculty advisors or other team mentors are encouraged to attend.

Team Composition: This track is primarily for graduate students, but undergraduate students can compete as long as at least one graduate student is a member of the venture’s startup management team and at least one graduate student is a part of the presenting team that travels to Rice University. A team with some undergraduates will be allowed to compete, and the undergraduates may participate fully. All graduate students, not just MBA candidates, are eligible to participate in the competition. This includes executive MBAs, MD candidates, JD candidates, other Masters Candidates, and PhD Candidates. Individuals in University Postdoctoral positions are not eligible to compete as students.

Non-students may be members of the venture’s management team and may participate in planning the venture. However, only students may present the plan and answer questions from the competition judges. The maximum number of student competitors on a team participating at all level competitions is five (5), although there is no restriction on the total size of the venture’s founding team.

Student Involvement: The competition is for student created and managed ventures, including new ventures launched by licensing university technology. Students are expected to:

(1) be the driving force behind the new venture,
(2) have played the primary role in developing the business plan,
(3) have key management roles in the venture, and
(4) own significant equity in the venture.

In general, a member of the student team should be CEO, COO, or President of the venture, or members of the student team should occupy 50% or more of the functional area management positions that report directly to the CEO, COO, or President.

Members of the student team are expected to also own equity in the new venture. It is anticipated that the presenting students should own 50% of the equity that is allocated to the management team, and 20% overall equity. (One objective of this rule is to exclude ventures formed and managed by non-students who have given little or no equity to MBAs for writing their business plan.)

The competition is supportive of MBA/graduate teams that have created a business plan to launch a new venture based on university-developed research and innovations. A goal of the competition is to support the commercialization of promising university technologies through the licensing of technologies to start-up ventures.

Recognizing that the equity structure of these new university-based ventures may not yet be established, the 50% equity ownership rule may be waived in this situation. This waiver will be examined on a case-by-case basis.

Prior Activity: Ventures may compete only once. Teams that have competed at MOOT CORP (now Venture Labs Investment Competition) in a previous year are ineligible to compete at Rice, and therefore the TiE International Business Plan Competition.

Ventures with revenues in prior academic years, i.e., before August, 2013, are excluded. Ventures that have raised equity capital from sources other than the members of the student team or their friends and families before the current academic year, i.e., before August, 2013, are excluded. However, both student and other team members may have worked on an idea or new technology in previous academic years or in the case of the student team members even prior to entering graduate school, provided that their venture had no revenues and raised no outside equity capital prior to the current academic year.