TiE Fuels Entrepreneurship and Innovation in Silicon Valley, Will India Be Next

SAN JOSE, Calif., Sept. 22, 2015 /PRNewswire/ -- TiE Silicon Valley, a not for profit organization dedicated to fostering entrepreneurship and innovation in the Silicon Valley, and globally, today announced "India-US, STARTUP Konnect" in partnership with NASSCOM in India (National Association of Software Companies). This historic event will be attended by India's Prime Minister Honorable Narendra Modi, and is the first visit to California by an Indian Head of Government in 33 years.

"India-US STARTUP Konnect" will take place on September 27, 2015, at the Fairmont Hotel in San Jose, CA. President of TiE SV, Mr. Venktesh Shukla and Chairman of NASSCOM, Mr. R. Chandrashekhar,will inaugurate the conclave, which will showcase 35 selected start-ups from India and the US that are making an impact on society with their products and technology. Prime Minister Modi will have the opportunity to visit the booths and interact with the companies. He will also address the delegates and share with them his vision for promoting entrepreneurship in India. In addition there will be panel discussions that will highlight the factors that have led to entrepreneurial success in the Silicon Valley and what is the expectation and potential of Indian startups to emulate this success. The panel discussion regarding "Unicorns of India" will feature three startups from India that are part of the billion-dollar club in valuations.

"We at TiE are excited at the opportunity to showcase to the Hon Prime Minister how the innovation economy works in Silicon Valley," stated Venktesh Shukla, president, TiE SV. "With the explosion of entrepreneurial energy in India, it makes perfect sense to align Silicon Valley closer to the start-up ecosystem in India. More than 90% of the capital invested in start-ups in India comes from outside India and Silicon Valley-based investors are responsible for a good proportion of that investment. We hope India can adopt some of the practices followed in Silicon Valley and create an innovation economy in India."

One of the companies selected for this event is Point of Care (POC), located in Livermore, CA. It is a recent startup that has benefited from TiE SV by receiving mentoring, entrepreneurial expertise, and connections to VC for funding. They ranked as one of the TiE top 50 companies in 2015. POC makes a portable test lab in a box, which can be used to screen for dangerous diseases like cancer in remote regions of the world quickly and effectively. Such a service would normally be difficult to access and prohibitively expensive for most of the people who live in these far out regions.  

TiE SV was started in 1992. Its success speaks for itself; consider the following statistics regarding the impact TiE has had on innovation in Silicon Valley:

• Hundreds of angel funded companies to date
• Approximately $50 million in angel investments of which about $10 million were invested within the last few years
• Over 150 successful IPOs
• 61 chapters in 18 countries with nearly 12,000 members
• 20+ TiECons per year around the world
• 350 charter members by invitation in Silicon Valley

About TiESilicon Valley
TiE Silicon Valley is a not for profit association dedicated to fostering entrepreneurship in the Bay Area, as well as globally.  TiE strives to inspire entrepreneurs through mentoring, networking, education, incubating and funding programs and activities.  With nearly 50 events held each year, TiE brings together the entrepreneurial community to learn from local leaders, as well as each other.  For more information, please visit our web site at http://sv.tie.org. 

SOURCE TiE Silicon Valley

Related Links

http://sv.tie.org