Student Startup idea ‘MyFo’ wins TiE – TYE Summer Innovation 2018 Challenge; Team ‘OROME’ declared runners up4 years ago Saritha Keshamoni
In the challenge, 25 students of 21 schools formed 5 teams and pitched their ideas at the TiE Young Entrepreneurs (TYE) Summer Innovation Challenge on Sunday.
Student Team MyFo – ‘My Food My Choice’ an aggregator of food service companies, were declared the Winners of TiE -TYE Summer Business plan competition 2018, and Team “OROME” with ‘Eat Fresh Eat Organic’ organic home food idea, were declared the Runners-up. The IndUS Entrepreneurs (TiE-Hyderabad) declared the winning team TYE (TiE Young Entrepreneurs) summer innovation challenge 2018 on Sunday in Hyderabad amongst the 5 finalists.
A total of 48 students from 20+ Top Schools studying in class 9 to 12th in Hyderabad registered for TiE Hyderabad 6th edition of TYE summer school program that began in May this year.
TYE initiative brings Young Entrepreneurs from different schools of Hyderabad and learn Entrepreneurship101 (one on one) from TiE Mentors, who are accomplished charter members of TiE or Successful Entrepreneurs. Under the Summer Innovation Challenge program a shortlisted batch of 25 students underwent a rigorous curriculum on entrepreneurship development with 12 classroom sessions, 3 mentoring sessions followed by an innovation challenge and a grand finale on 10th of June. In addition to the award, this year, the TYE Summer students find an opportunity to spend a Day with a CEO at his/her office.
“There were quite a few interesting pitches, the jury declared the winners for scoring high on the 8 different parameters which were presentation, business model, and financial viability.” Kali Prasad Gadiraju (President, TiE Hyderabad and Office Managing Partner, E&Y Hyderabad) said.
The winner and runner up student team were elated after receiving a certificate, trophy and a book. “It was a great learning moment for us, to present our ideas to jury in front of our mentors and successful entrepreneurs today. They thanked their mentors for helping them model their business idea a reality and guidance.”
Congratulating the winners Kali said, “While there is an abundance of entrepreneurship opportunities with great promise to solve current world problems, the new generation need to know how to identify business models that can grow, sustain and stay relevant in this competitive world”. Our goal is to give them a head start, the moment ideas spark in young minds. He commended all the participating schools for stirring interest amongst their students to participate and TiE charter members for hand holding, and lending mentorship wisdom to these aspirants.
In his address after giving away the awards Xavier Augustin, the Founder & CEO of Y-Axis Overseas lauded TiE Hyderabad to pull the event of such a magnitude in the most happening place in the world Hyderabad, He appreciated the way schools and parents are encouraging the entrepreneurial spirit in kids. He suggested that TiE should take this platform by making Entrepreneurship education more widespread within students. With such programs we must encourage the next generation with the skills necessary to face the challenges and create simpler solutions rather than worrying about problems.
During the TYE Summer School course each of the participants interacted with seasoned entrepreneurs. The structured program offered by TiE Hyderabad included a day-long session on Design Thinking by “better by design” team and a team bonding/ group working session by “Hum Consulting”.
The jury members along with President, Vice-President, Program Chairs, Mentors and other Charter Members of TiE Hyderabad were also present at the award ceremony. The esteemed jury included Ms Deepthi Ravula – CEO -WE HUB, Dr. Balaji Bhayravbhatla Managing Director at HyLasCo Bio-Technology, Niraj Soni – Senior Technical Program Manager at Google Tez works.
TYE program Co-chair Mr. Venkatesh Narasimhan, Senior Vice President, Advanced Technologies Redpine Signals Inc. said,” The TiE Young Entrepreneurs initiative has been a globally vibrant activity with widespread participation from students and TiE Volunteers around the world. TiE Hyderabad has conducted this as a summer session for the first time, with 25 students from different schools in Hyderabad participating in it through the month of May. The level of intensity and enthusiasm which they brought into the event has been mind-blowing and the Finale today, where they presented the business plan was an outstanding occasion. The general observation of the Jury and all of us has been that the quality of the business plans and the impact of the presentations exceeded what is seen from a majority of real startups.”
Adding to this the Co-Chair Mr. Viiveck Verma, Chief Strategy Officer – Srinivasa Farms said, “Students who have missed out on this edition need not worry as this is the 5th year of TYE in Hyderabad and the first time ever, we did TYE summer. This is in addition to our annual TYE, which we conduct during months of Sep/Oct. TYE Summer is a vertical of TYE where we conduct the session during school’s summer vacation.”
Sharing their thoughts and outcome of TYE Initiative, a TYE student parent in their own words had said “We relocated back to India after living in US for 12 years. Whenever my daughter encountered even a simple problem she was always critical about India. Post TYE, things changed dramatically for her, she now started seeing solutions as opposed to problems. Says she, mama we can solve this problem by applying this concept I was taught in TYE. Whether or not she chooses to be an entrepreneur, I am hopeful she will surely make a change in the world some day in future. Thank you TiE”
The awards for the winning teams were presented by TiE President, Kali Prasad Office managing partner E&Y and Xavier Augustin, the Founder & CEO of Y-Axis Overseas.
Team MyFo – ‘My Food My Choice’ an aggregator of food service companies, were declared the Winners of TYE Summer Business plan competition 2018.
Varla Ananya Reddy – 10th standard Future kids school
Gnandeep Gottipati – 12th standard Guru Junior College
Avani Patlola – 11th standard Vijaya Ratna Jr College
Sucheth Konda – 9th standard Jublie Hills Public School
Likith Kadaveru – 12th standard Narayana Junior College
Team OROME – ‘Eat Fresh Eat Organic’ organic home food, were declared the Runners-up of TYE Summer Business plan competition 2018.
Rishita Chourey -12th standard Manthan School
Puneeth Reddy Patlola – 11th standard P Obul Reddy School
Sreenija Chintha – 10th standard Meridian School
Jaithra Kakrla – 9th Oakridge International School
Students from top schools of twin cities such as Bharatiya Vidya Bhavan’s Public School, Jubilee Hills, Chirec International, Delhi Public School, Glendale Academy International, Jubilee Hills Public School, Manthan School, Meridian Madhapur School, Oakridge International School, Obul Reddy Public School, Rockwell International School, Sadhu Vaswani International School, Sahyadri School, Sancta Maria International School, Silveroaks, Sreenidhi International School, Sri Chaitanya Techno School, St Mary’s Jr College, Viswa Bharathi Techno School, Gadwal, Bhavans participated in this program.
Leaders who mentored students at TYE Summer
A number of industry luminaries were involved in a series of sessions conducted during the TYE program that the students attended which included Murali Bukkapatnam (Founder & Chairman, Volksy Technologies), Ekta Bahl (Partner, Samvād Partners), Sanjay Jesrani (Founder & CEO, Go North Ventures), Prasad Vanga (Founder & CEO, Anthill Ventures), Sricharan Lakkaraju (Founder, Stumagz) Vikram Redlapalli (RDP Systems), Raj Neravati (Founder & CEO HUG Innovations) K. Vihari (Co-founder Paymygst), Mukesh Chandra Anchuri (Founder and CEO – Paymatrix) to discover what it takes to chase one’s dreams in life.
The team mentors Mr. Rakesh Bhatia (Partner, Beyond Strategy Consulting), Mr. Srini Chilukuri (MD, Flexeye It Services) Mr. Bhatt Dittakavi, Pranav Shah, Bhanu Cherukuri helped students by vetting their business plans to allow the participants identify problems and find solutions accordingly. These mentors unlocked the potential of the participants in order to get the best out of them.
About TiE : The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently 15,000 members, including over 2,500 charter members in 60 chapters across 16 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, education, incubating, and funding. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs. For more details, please visit https://www.tie.org/.