31st March, 2003
THE TiE (The IndUS Entrepreneurs) Chennai has launched a five-pronged initiative to promote entrepreneurship in Tamil Nadu. The chapter would also focus on sectors such as biotech, media and entertainment, engineering, auto-ancillaries and pharmaceuticals.
Since inception three years ago, TiE Chennai has been focussing more on information technology since most of the activity and funding was going to that sector, the chapter’s President-designate, Mr.S. Sriraman, told newspersons here today.
TiE is a global body started to promote entrepreneurship. In India there are 12 TiE chapters, and worldwide over 800.
From April 1, Mr. Sriraman, CEO, SilkRoute Indchem, a venture capital firm, will succeed Mr.K.V. Ramani, Chairman and Managing Director, FutureSoft, as the chapter President. Mr. Pandia Rajan, Chairman and Managing Director, Ma Foi Management Consultants, will be the new Secretary and Treasurer.
According to Mr. Pandia Rajan, the chapter’s new strategy includes `dignifying entrepreneurship’, creating more entrepreneurs and working out on issues like institutional impediments for entrepreneurs.
The chapter would also focus on creating entrepreneurial culture and cover sectors other than technology including knowledge-based industries like biotech. The chapter would also focus on developing entrepreneurs in other clusters in the State including Tirupur, Namakkal and Coimbatore, he said. The TiE Chennai would focus on issues related to funding of enterprises through venture capital funds, high net worth individuals, angel investors, corporates and institutions. According to Mr. Pandia Rajan, mentoring thrust would be an important focus for the chapter this year.