Date:18/02/2006 URL: http://www.thehindubusinessline.com/2006/02/18/stories/2006021803000400.htm

Back ISB to host DFJ-TiE business plan contest

Our Bureau

Hyderabad , Feb. 17

THE final of the first national-level business plan competition of the Draper Fischer Jurvetson (DFJ), a venture capital firm, and the Indus Entrepreneurs (TiE) India Venture Challenge, will be hosted at the Indian School of Business here on February 20.

The ten short-listed participants of the total 125 aspiring entrepreneurs, representing both new ventures and existing early stage businesses, are expected to present their business plans to a team of judges.

The first prize winner will receive seed funding of $100,000 and the second $50,000. The seed fund is being provided by DFJ and Nadathur Holdings.

The panel of judges comprises Mr Sarath Naru, MD APIDC, Mr Ranjan Chak of Oak Investments, Mr Raj Atluru and Mohan Lakhamraju from DFJ, Mr N.S. Raghavan, founder of Infosys and Nadathur Holdings, Mr Srini Raju founder of ILabs and Prof Chandrashekhar of ISB.

The President of TiE Inc, Mr Sridar Iyengar, in a statement said "TiE is pleased to partner with DFJ in this unique business plan contest connecting current and potential entrepreneurs to mentors and capital in the US and India."

According to Mr Tim Draper, Founder and MD of DFJ, "Entrepreneurial talent abounds in India and needs encouragement."

The 125 applicants went through two rounds of evaluation and selection. The two winners would be chosen at the competition co-sponsored by Nadathur Holdings, ILabs Group and the ISB.

DFJ is actively investing in India and has thus far invested in companies such as Rediff.com and Mr Sabeer Bhatia's Hotmail in the mid 90s.