TiE Detroit, the Detroit Chapter of the global not-for-profit entrepreneurial organization, said this week it had launched a new program to further its mission of fostering entrepreneurship through hands-on mentoring.
The new program, titled TiE Young Entrepreneurs, or TYE, targets a motivated population segment of high school students by teaching them the basics of entrepreneurship though an intensive mentoring program.
Seema Chaturvedi, co-founder and past president of TiE Detroit, past member of TiE Global Board and chairwoman of the TYE Detroit Program, said of the vision behind TYE: “TYE’s bigger cause is social development. We are committed to creating and nurturing future generation of entrepreneurs and leaders who make positive contributions to not only building a strong network of youth within their local communities, but also leverage TiE’s global network to create value for global business ecosystems.”
TYE accomplishes this objective by offering a training and mentoring program to selected high school students who learn about the challenges and rewards of becoming an entrepreneur. This nine-monthlong program encourages the youth to get involved in the value creation process by exposing them to the entrepreneurial mindset. Seasoned entrepreneurs and mentors coach high school ninth through 12th graders on a business-focused curriculum. The program culminates to a global business plan competition and nurtures creativity, self-confidence, leadership and overall development of the students.
TiE Detroit’s TYE Class of 2012 will be joining high school students from around the world as teams from 17 other chapters spanning four continents launch the TYE 2012 program in their respective chapters. These locations will include nine cities in the U.S. and Canada (Atlanta, Austin, Boston, Carolinas, Seattle, San Diego, Vancouver and Washington D.C.), six cities from India (Delhi, Chennai, Jaipur, Hubli, Kolkata and Ahmedabad), Melbourne, Australia, and London, UK.
TYE is in it third year of global existence. TYE 2012 builds upon the success of TYE 2011 when Global TYE involved 140 teens from nine cities in the United States, India and the United Kingdom and the final competition was held on April 30 at Cisco Systems’ offices in Research Triangle Park, N.C. TYE Global competition sponsors include Wachovia, Cisco Systems, the Kauffman Foundation and NCSU’s Entrepreneur Initiative.
TYE 2012 participating high school students will devote their weekends for nearly four months to learn about entrepreneurship, business models, finance, marketing, law, leadership, and presentation skills. Winning regional teams from all 17 chapters will travel to Atlanta, Ga. in April to present their business plans in person to global judges. More than the intense competitive spirit, the interaction with team members from diverse locations is expected to build a community of budding entrepreneurs that stay connected through the prestigious TYE Alumni Network.
“Pitching a business idea to an investor is one of the hardest forms of communication,” comments Rupesh Srivastava, President of TiE Detroit. “These teens will be able to walk into any boardroom in any company in the world and impress them with their knowledge and acumen. While only some of the pitches will eventually win awards, there were no losers. They are going to be the innovators of tomorrow.”