TiE Detroit, the Detroit chapter of the global non-profit organization for entrepreneurs, has announced that the application process for the TiE International Start Up Competition (TISC) is open.
Sponsored by TiE Global, TISC is for new, independent ventures in the seed, start-up or early growth stages who are seeking outside equity capital. Companies can be of any size but only two members from each regional winning company will have their travel and expenses covered by TiE Global.
Applications and executive summaries must be submitted on by Oct. 18.
Applicants will be notified of their status by Oct.23.
“I encourage all local companies in their infancy to submit applications for this incredible opportunity to work closely with TiE’s large pool of senior entrepreneurs and investors who will mentor and guide them to success,” said Tel Ganesan, president, TiE Detroit. “I am looking forward to seeing what our local team can accomplish.”
The team chosen to represent TiE Detroit will compete against nine teams in the North American regional competition in Boston in March 2016. Two other regional events featuring nearly 50 other teams will take place in Asia and Europe at that time as well.
The winning three teams from each region will then go, all expenses paid, to TieCon in Silicon Valley for the Global Finals May 4-7. There, they will participate in a one-day Power Boot camp hosted by TiE Silicon Valley, an elevator pitch competition and be divided into three tracks for presentations. Judges will then choose the venture they think is most viable in today’s marketplace as the winner of investment and prize money.
In addition, all companies will be invited to a VIP reception, be exposed to the TiE Angels investment group and venture capitalists and receive $1,000 in spending money and two passes to TiEcon 2016. The top three finalists also will receive a booth at TiEcon where they can pitch investors face-to-face.
First, second and third place winners, as well as those receiving special category prizes, will receive them that week at the Global International Awards Dinner.
For more information about the competitions, TiE chapters and judges involved visit here.