Teen teams win $10K in Triangle business plan competition
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by: TiECarolinas
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Date: Thu, 22 Apr 2010 Time: 9:53 PM
Raleigh, NC -- On March 20, 2010, five teams of high school students competed in the inaugural TiE Carolinas Young Entrepreneurs (TyE) business plan and presentation contest. TiE is the largest international professional organization dedicated to fostering and supporting entrepreneurship. The prizes will be awarded at a TiE Carolinas event on April 29, 2010. The public is invited to attend.
The winning team receives a $5,000 cash prize, provided by Wachovia Bank, a Wells Fargo company. "Wachovia is excited to be the first prize sponsor for TyE,” said Raj Satsangi, Assistant Vice President. “These future business leaders have shown great creativity, passion, and vision as they build business models and plans to grow their ideas. We look forward to supporting this event and to the opportunities these young entrepreneurs create and challenges they will overcome!"
The second-place team receives $3,000. The third-place team receives $2,000. These awards are contributed by Sajjan Agarwal, Chairman and CEO of GreenHawk Corporation, a Raleigh-based real estate development company.
The winning team, HealthBeats, is comprised of Rangoli Bhattacharjee and Bhavna Singh of Enloe High School in Raleigh, NC, and Divyansh Gupta of Panther Creek High School in Cary, NC. “(The program) teaches us skills, team building, and a lot more,” says Singh. “It’s an opportunity no one should miss.”
The prizes will be presented at an awards ceremony on April 29, 2010, at Brier Creek Country Club in Raleigh, NC. The public is invited to join TiE Carolinas for dinner, meet the TyE teams, and learn about their business ideas. After the awards, guests are encouraged to stay for a panel discussion of technologies, trends, issues, and projections in the clean energy sector.
High school students from the Triangle area, Greensboro, Virginia, and Fayetteville participated in the first annual TyE Carolinas program. Over several months, the students attended classes taught by successful professionals, on business principles such as marketing, finance, and legal.
The students formed teams and developed a business idea. The teams wrote a professional business plan and developed a presentation for a panel of investors and business executives. The judging criteria included strength of business concept, market and financial analysis, and quality of presentation and writing.
Each team was coached by a TiE member. Shishir Shonek, Vice President of InContext, Inc., a Durham technical and scientific writing company, is the HealthBeats coach. "The judges were impressed with the work of the teams,” said Shonek. “All of the students did an amazing job of balancing school, business classes, and the competition. They worked hard to refine and communicate their ideas, like true business professionals.”
To register for the awards event and learn more about TiE Carolinas, visit http://carolinas.tie.org or email info@carolinas.tie.org. To learn more about TiE Young Entrepreneurs, including the 2011 program, visit http://tyecarolinas.com.
About the Author
Meena Jeyakumar
Executive Director
TiE Carolinas
http://carolinas.tie.org/
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