TiE Carolinas Announces $5,000 Winner of the TyE 2014 program – award goes to WiREcycling

WiREcycling high school team will be representing TiE Carolinas in the global competition and compete with 22 other teams from all around the world.

Does the next generation have what it takes to compete in a global market? Teens from around the Triangle area gave a thundering answer in the local business plan competition in The Indus Entrepreneurs’ TiE Young Entrepreneurs program (TyE) in Chapel Hill, NC on April 27th at UNC.

The 30 teenagers involved in the TyE program dedicated their weekends for 6 months to learn about entrepreneurship, business models, finance, marketing, law, and leadership and presentation skills. They have applied their learning to find a need, create a business to satisfy it and present and defend their plans in front of seasoned entrepreneurs, business leaders and venture capitalists. They winner will move on to compete in the TyE Global Competition to be held in Vancouver, B.C.and have an opportunity to take their business plans to the next level.

Learn more about TyE Carolinas Program at https://carolinas.tie.org/event/11/tye-final-competition

WiREcyling team consisting of Samay Bhalodia, Anuraag Agarwal, Mihir Shah, Ruwaydah Sideek and Suda Rao was chosen as the winner of the TyE 2014 program which aims to provide an ecofriendly solution by partnering with small businesses in the RTP area to resell used cables to organizations that need them or to e-waste processors for the raw materials.

Inflatable Life, inflatable back raft and light raft product company, won the second prize of $3,000 and the third prize was won by D-Cubed Ink, a 3D printing services company, which will be taking home $2,000 cash prize to work on their business idea.

President of First Flight Venture Center, Andy Schwab, business development manager of Wells Fargo, Joe Lee, Rep. Tom Murry of NC legislature and technology development director of NC Biotech center, Shobha Parthasarathi served as judges for this year’s competition.

“We are pleased to host and support TiE Carolinas and their young entrepreneurs organization here at First Flight,” indicated Schwab.  “This a large global effort which leads to the development of future startups and companies here in RTP  and elsewhere.  This is a critical component of a successful STEM initiative”, he  stated.

An award ceremony was held on May 7th in Morrisville to recognize the winners of the TyE program.

About TiE Carolinas 

TiE Carolinas is a not-for-profit organization with a mission to foster and support entrepreneurship in the Carolinas. This organization has three objectives:

-To network and to facilitate networking among members

– To foster entrepreneurship and to nurture entrepreneurs

– To help membership integrate with the mainstream community