Round 1 of TiE is about to reach its completion on 22nd of Jan, 2012 at Marriott, Islamabad in which ten teams will participate. Four teams will be shortlisted for the level 2. I also had the opportunity to participate in TiE All Asia Business Plan Competition 2012 along with my team members in the first few stages of level 1. Although we didn’t have the chance to go beyond stage1 but just participating helped us understand our own idea better and to polish our proposed technique along with development of a solid business plan. TiE all Asia Business Plan Competition provides a platform for generation and development of new ideas and investors for those who win the contest. AABPC is an international program designed in conjunction with the Rice Business Plan Competition to give graduate-level university students in Asia a chance to experience the real world challenges, polish their ideas and make pitches to potential investors. Divided into multiple stages, participants are sifted through level 1 and level 2 in TiE Islamabad and TiE Delhi respectively. Winner is given proper coaching and training and a guaranteed participation in level 3 at Rice University intercollegiate business competition which is currently the largest competition of its kind.
Entrepreneurs go face a lot of challenges regarding RnD, prototype development and idea testing. Not only is it difficult to find investors but also difficult to convince target users of how their innovation or modification of existing offer can increase consumer’s productivity, comfort or quality of life. Especially given market situations like Pakistan, and other third world countries where every single minute spent must bring money and where people keep track of every single penny spent, entrepreneurs go through great deal of hardship in making their mark.
As in every competition there were some parties here who weren’t satisfied with the judging panel as Nauman Sohail commented on TiE Facebook page “I also have seen some lobbies and biased attitude to certain ideas rather being open to mentor someone who has good thoughts but didn’t do well on paper” Since entrepreneurship is not restricted to a limited set of subjects, It is a great responsibility on the behalf of the management and organization of the TiE team to put together a judging panel comprising of personnel from all subjects of study including technical, non-technical, scientific and non-scientific disciplines so that participants’ ideas can be assessed fairly, giving every unique and workable proposal an equal chance to win.
It is a matter of great opportunity for graduate-level students, especially in developing countries, since local investors for new projects are hard to find. Hence, students should take initiative and seek guidance from their mentors and university advisors to fine tune their ideas and develop presentations which are to the point, rich in contextual meanings, understandable and comprehensible so that their efforts don’t get wasted.