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Airetrak shows winning streak at TiEger's Den Business Pitch Competition


TiE UK (The Indus Entrepreneurs), the UK's leading not-for-profit organisation for entrepreneurs, announced today that Roger Willmott, CEO of Airetrak, has won the TiE UK TiEger's Den Business Plan Competition held at HSBC's headquarters building in Canary Wharf.

The competition gave budding entrepreneurs the opportunity to present their business plans to a judging panel of successful entrepreneurs, venture capitalists and senior business people, which included: Shantanu Bhagwat, Business Development Partner (Asia), Amadeus Capital Partners Ltd; Dr Geeta Gupta, Investment Director, Consensus Business Group and TiE UK Board Member; Stuart Nicol, Director, Octopus Intermediate Capital and TiE UK Board Member; George A Coelho, Managing Director, Good Energies (UK) LLP and TiE UK Board Member and John W. Mullins, PhD, Associate Professor of Management Practice Marketing and Entrepreneurship, London Business School.

At the event, five shortlisted companies pitched to the judging panel before an audience of over 100 delegates. The winner was Roger Willmott, CEO of Airetrak, who won a free place on the prestigious London Business School executive education programme, known as “Growing your Business”, and a free mentoring session with a member of the TiEger’s Den judging panel. Airetrak has developed a WiFi-based tracking solution which can locate assets and resources in real time to within metres in indoor environments.

The runners-up were: Randhir Hebbar, Co-Founder and Director of Zeopane Limited, a medical devices company that designs, manufactures and markets a patent-pending painless and convenient drug-delivery technology called zeolite micro-needles; Amit Kothari, Founder of The Chutney sites - chutneytickets.com, chutneylicious.com, mychutney.com. These sites are a transactional and entertainment business targeted initially at British people of Indian origin; Ed Cheng, Co-Founder of GoPho, a fast food Vietnamese restaurant focused on 'pho', a traditional hot Vietnamese noodle soup; and François Mann Quirici, a former Lazard investment banker, who is the co-founder of The Fine Violins Fund, an $80 million target investment fund dedicated to making investments in high-end violins and other string instruments.

TiE UK is part of the world’s largest and most successful entrepreneur’s not-for-profit network founded in Silicon Valley in 1992 with a mission to nurture entrepreneurship as the engine of wealth creation. It has since grown to 52 Chapters (branches) in 11 countries.

TiE's regular members are up-and-coming entrepreneurs operating in sectors ranging from IT, healthcare and financial services to property, retail and marketing. Worldwide, more than 12,000 members now benefit from TiE's mentoring and education programmes, and inspirational networking events.

TiE's Charter members are successful entrepreneurs and senior professionals who serve as mentors to the next generation of entrepreneurs. They include such high profile figures as Tom Singh, Founder of New Look, who is TiE UK's Chairman; Lord Karan Bilimoria, Founder of Cobra Beer; James Caan, Dragon's Den investor and Founder of the Alexander Mann headhunting group; George Coelho, Managing Director of Good Energies and formerly Founder of Benchmark Capital Europe; Dinesh Dhamija, Founder of ebookers; Aditya Mittal, CFO of ArcelorMittal, the world's largest steel company; and Chai Patel, Founder of the Priory Healthcare Group.

TiE UK has been helping entrepreneurs realise their business goals since 2000 and is one of the largest Chapters in the TiE network with over 900 members. It has provided mentoring services to over 120 entrepreneurs in the last two years and organises 40 events a year.

Roger Willmott said: “I am proud that a prestigious organisation like TiE UK has recognized the value of the Airetrak solution and I wish I had found such an organisation years ago to help me to set up the business much earlier. I believe that now more than ever entrepreneurs should get together and share ideas through forums like TiE. I am delighted that I will be able to continue to draw on TiE UK support through the mentoring provided by Dr Geeta Gupta and the course at LBS will also be invaluable in assisting the growth of Airetrak.”

Alpesh Patel, Event Chair and TiE UK Board Member, said: “The TiEger’s Den event shows that grass-roots entrepreneurial drive is as strong as ever and, indeed, in the current environment we expect to see a lot more people converting unemployment into self-employment. It’s in bear markets that fortunes are made and in bull markets that they are realised.
“TiE and its mentors have witnessed many economic cycles and are proof that in hard times, enterprise is more important than ever for the economy of the UK. We are grateful to HSBC for having sponsored this event and to London Business School for their support.”

The TiEger’s Den event was sponsored by HSBC, one of TiE UK's core sponsors, with the support of London Business School. These three institutions collaborate to offer a forum for entrepreneurs to discuss their ideas and receive the support they need to realise them.

Mohan Padala, Head of Commercial Centre South Asian Banking at HSBC, said: “In these volatile times, the TiEger’s Den’s contestants were a breath of fresh air as they demonstrated a much-needed spirit of entrepreneurialism and optimism. Opportunities do exist for those who look for them and are willing to invest their passion in them. HSBC is proud to support TiE’s endeavours to encourage enterprise and development of business skills through its mentoring programme.”

John Mullins of the London Business School confirmed that developing successful entrepreneurs is one of the School’s goals. He said: “There’s lots of interest in being an entrepreneur today around the world. At the London Business School we aim to help people understand the opportunity they want to pursue and support them in their journey.”

- ENDS -
Editors Notes
Press Contact: Margaret Henry, PR Consultant, TiE UK.
Tel: +44 (0)1865 811199 Email: m.henry@oxin.co.uk

Photo available on request
1. L-R: Roger Willmott (CEO of Airetrak Ltd) receives congratulations on winning the TiEger’s Den Business Pitch Competition from John Mullins (Associate Professor of Management Practice Marketing and Entrepreneurship at the London Business School) while Mohan Padala (Head of Commercial Centre South Asian Banking at HSBC) looks on.

2. Roger Willmott (CEO of Airetrak Ltd) - winner of the TiEger’s Den Business Pitch Competition.
3. Roger Willmott (CEO of Airetrak Ltd) receives his award at the TiEger’s Den Business Pitch Competition from Mohan Padala (Head of Commercial Centre South Asian Banking at HSBC).

About TiE UK
Founded in Silicon Valley in 1992, TiE (The Indus Entrepreneurs) is the world’s leading not for profit organisation that promotes entrepreneurship. Although its birth name signifies the South Asian or Indus roots of its founders, TiE stands for Talent, Ideas and Enterprise.

TiE’s core activities are mentoring and education programmes and networking events. The network links budding entrepreneurs to successful and prominent entrepreneurs and professionals through its unique Mentoring Programme. TiE also organises a TiEger’s Den Business Pitch Competition, inspirational networking events and Special Interest Groups in Healthcare, Outsourcing, Social Entrepreneurship and Venture Capital.

The TiE network includes many participants in the entrepreneurial ecosystem – high profile entrepreneurs as well as up and coming entrepreneurs, venture capital firms, angel investors and professionals that specialise in services to support entrepreneurs.

Launched in 2000, TiE UK operates from London and Manchester. It has over 140 Charter members and over 900 regular members, making it one of the largest Chapters globally.

TiE UK’s partners include: the CBI; London Business School, Cass Business School; The Hub; Make your Mark (Enterprise Insight); British Library Business & IP Centre; Manchester Junior Chamber of Commerce; Warwick University; Said Business School at Oxford University; the Centre for Entrepreneurial Learning at Cambridge University; Manchester Business School; Manchester Metropolitan University Business School’s Centre for Enterprise and Imperial Entrepreneurs.
TiE UK is sponsored by: ABN AMRO Private Banking; HSBC Bank; KPMG and Simmons & Simmons. For further information: www.tie-uk.org

About the London Business School Executive Education programme - “Growing Your Business”
Modelled after the award-winning course run annually for the Young Presidents’ Organisation, the London Business School Executive Education programme, known as Growing your Business, assists entrepreneurs and executives running fast-growing businesses in managing the challenges that rapid growth always brings.

Growing Your Business addresses three key themes:
• Discovering and assessing opportunities for growth
• Overcoming barriers to growth and managing transitions
• Creating and realising value in fast-growing companies
A key take-home value, in addition to the network you’ll build and the toolkit you’ll gain, is the development of a targeted, prioritised growth plan for each participant’s business.
For more information on this programme, to watch the video and to book a place visit : www.londonworkouts.com/gyb. Or contact the Professional Development Team on +44 (0)207 7000 7390 or gyb@london.edu

About London Business School
Founded in 1964 and based in the world’s best connected city, London Business School exists to develop breakthrough insights and successful leaders that have a positive impact on business around the world.

The School's faculty, from over 30 countries, is grouped into seven subject areas – Accounting; Economics; Finance; Management Science and Operations; Marketing; Organisational Behaviour; and Strategic and International Management.
Studying at the School provides access to an unmatched diversity of thought. With a presence in four international cities – London, New York, Hong Kong and Dubai – the School is well positioned to equip students from more than 130 countries with the capabilities needed to operate in today’s business environment. Students further benefit from our 28,000 alumni who provide a wealth of knowledge, business experience and worldwide networking opportunities.
The School awards 800 degrees every year, across MBA, Executive MBA, Masters in Finance, Sloan Fellow and PhD programmes. The Executive Education team offers a portfolio of over 20 open programmes as well as custom-designed programmes developed to meet the specific needs of organisations.

London Business School is consistently ranked among the top ten business schools in the world. For further information: www.london.edu

About Airetrak
Airetrak WiFi tracking solutions have been designed to provide visibility of the key assets and resources used by businesses and other organisations.

Airetrak’s core product, ResourceView, uses new RFID and WiFi tag technology to provide accurate location, alerts and telemetry information, making use of a company’s industry standard wireless LAN network and avoiding the need for costly infrastructure.

Airetrak specialises in developing solutions for the Healthcare sector and this is reflected in the product’s rich user experience combined with ease of use, so important in today’s clinical environment.
For further information: www.airetrak.com


Publisher Contact Information:

TiE UK (The Indus Entrepreneurs)
+ 44 (0)1865 811199
m.henry@oxin.co.uk

Company profile of TiE UK (The Indus Entrepreneurs)
Past press releases of TiE UK (The Indus Entrepreneurs).

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