The Indus Entrepreneurs (TiE) Lahore is organizing the “TiE Khudee” _ Nationwide Business Plan Competition 2007 based on Allama Iqbal’s philosophy “Khudee”, an annual event aimed at promoting entrepreneurship in the country.

TiE Lahore is part of the international TiE Global network – a global non-profit organization established in 1992 in the Silicon Valley, USA. TiE Global has grown into a vibrant and professional voluntary organization dedicated to the advancement of entrepreneurship. Today, the TiE network encompasses 47 regional chapters across 11 countries and is the leading brand promoting entrepreneurship across the globe.

TiE membership comprises of highly successful individuals from a variety of business & academic backgrounds, uniting in their efforts to provide a dynamic & vibrant environment in which entrepreneurs can share their experiences and draw from a common pool of knowledge. By facilitating the germination of ideas into actual businesses, TiE has created wealth & helped boost the economies of geographies in which it operates - it is estimated that over $200 billion of wealth creation has resulted from varied TiE initiatives.

“TiE Khudee” business plan competition is our latest local undertaking that acts as a platform for aspiring entrepreneurs, including both seasoned professionals & students, to turn great ideas and dreams into high quality business plans and eventually into successful businesses.

The competition has been modeled after the Massachusetts Institute of Technology (MIT) 50k Business Plan Competition and other very successful business plan competition models followed by TiE chapters including TiE Delhi, TiE UK & TiE Toronto Canada. Several leading international & national organizations such as Abraaj Capital, Pakistan Software Export Board (PSEB), Punjab Information Technology Board (PITB), JS Group, Pepsi, Mobilink, DWP Technologies, Medipak Group, Hang Ten, Rozee.PK, the Lahore University of Management Sciences (LUMS) & Dawn News are sponsoring & supporting the event.

In the first round, participant teams will submit executive summaries and these plans will be judged based on their innovation, feasibility & growth potential. Following this initial screening, the 30 selected teams will be offered a 3 days long training at LUMS to refine their ideas and assist with the preparation of professional investor friendly business plans. Pre-eminent business & investment leaders will then short-list 10 teams to continue in the challenge. These teams will be mentored by CEO’s of leading corporations in preparation for the next screening round where 5 teams will be short listed for the finals.

The top 5 business plans will be presented at the TiE Entrepreneurial Summit in Lahore on December 17th where leading Venture Capitalists, Investment Bankers and TiE Charter Member CEO’s from the US and Pakistan will be invited to judge the final presentations and the following cash prizes will be awarded:

1st Prize: Rs. 500,000/-
2nd Prize: Rs. 300,000/-
3rd Prize: Rs. 200,000/-

The winning teams will then be introduced to and provided an opportunity to pitch their ideas to leading venture capital / private equity firms at the event.

If you’re an aspiring entrepreneur, do not miss the opportunity – the last date for submission of your Business Plans is November 1st, 2007.