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Press Release 11/21/2012
TiE-Boston
held its Annual Gala Dinner on
November 8th at the Microsoft NERD Center
in Cambridge, MA. Over 100 people including Charter members and Sponsors attended
to celebrate another year of successful TiE-Boston activities. The evening’s
agenda included an Investor Game, stimulating talks, and an Awards ceremony
that honored the accomplishments of Charter Members, who have built great
companies and created immense value for the community. It was a moment to thank
all the sponsors, supporters, and volunteers of TiE-Boston for another
successful year of fostering entrepreneurship. Prat Moghe, TiE-Boston’s President, kicked off the
evening program with a welcome address. As his first Gala, after taking over as
president in January, Prat summarized the exciting developments at TiE-Boston
this past year. This included moving
the TiE office to
Cambridge, launching the TiE
Challenge Accelerator Program: to help first-time entrepreneurs turn ideas into real companies, and hosting
a great
TiECON East. He also
talked about the excitement TiE-Boston continues to generate by the increased
involvement in the entrepreneurial energy of Kendall Square in Cambridge. To
further that work, TiE Circle was introduced by Saluni Fadia,
President & CEO of Abacus Software, which is a new mode for Charter Members
to give back to the organization. Next, Rob Soni,
Investor and former General Partner at Matrix Partners,
took a few minutes to share his thoughts about the “Lost Decade 2002-20012.â€
Rob explained how once-in-a-lifetime events (i.e. market collapses, natural disasters,
epidemics, etc) are becoming more common and transforming business beliefs. He
discussed how and why entrepreneurs should change the way they think and do
business. Some of Rob’s examples included being wary of terms when taking on
debt, focusing on predictability rather than growth, watching not just the
equity markets but also the debt markets, choosing offshoring for reasons other
than cost, and defining success with a single focus rather than “multi-acts.†The second speaker was Hitendra Patel,
Managing Director of the IXL
Center at the Hult
International Business School. He talked about how
Hult is joining forces with the Clinton Global
Initiative to host the President’s
Challenge, the largest global business plan competition for
NGOs. This competition each year focuses on a major social issue. Next year, 6
teams with solutions for hunger will come to NYC to pitch for $1M in prizes and
be part of an accelerator program hosted in Boston. Evan Dangel from Morgan
Stanley Smith Barney and Thierry Weissenburger from the Canadian
Consulate (both representing TiE Boston sponsor companies) helped
announce the award winners to a room filled with suspenseful excitement and
unexpected amazement. The Crystal Award for a Charter Member who
built his company from the ground up was given to Ramesh
Kapur,
President and CEO of Med Tech Gases,
the “Best Regional Mid-Sized company†supplying compressed gases. It is also the oldest commercial gas supplier
in the New England area serving Research Centers, Pharmaceutical & Biotech
companies, Hospitals, Universities, and others for the last four decades. Awards for 'Entrepreneurial Achievement' for
successful exits went to: Gaugarin
Oliver, founder of RedEgg Solutions, a leading provider of
media intelligence and analysis that was acquired by Thomson Reuters
late last year. Puneesh Chaudhry
and Sanjay Jain,
co-founders of Copiun, an innovator in secure mobile collaboration which allows
users to directly and securely access all files from anywhere, also received
awards. Copiun was successfully acquired by Good Technology
in September. Amrith
Kumar of ParElastics,
an elastic database virtualization for the cloud, and Asa Kalavade of Zettics (formerly Umber
Systems), which provides big data analytics solutions to carriers that deliver
immediate, actionable insights on data activities, won the award for successfully closing a round of funding
for their respective ventures. Awards were also given for
successfully running TiE Boston
Programs to Ramji Raghavan
for his contribution to the TiE Challenge program. Richard Kimball
of Edwards Wildman and Mick Bain
of WilmerHale were recognized for being Outstanding Partners to TiE-Boston
Programs for their help with running the Bootcamp at TiECON East, workshops for
entrepreneurs and assisting in the TiE Challenge program this year. The program also
included the TiE Challenge Innovation Showcase where attendees played an Investor
Game as they interacted with the companies involved with TiE-Boston. Each
attendee received $300K to “invest†in participating companies. The money thus
“invested†was counted to determine the top 3 companies that were most popular.
Anupendra
Sharma, Partner at Siemens Venture Capital, announced the
winners of the TiE Investor Game, which were Mobee, Cellanyx Diagnostics,
and Architexta
with $3.5M, $1.5M, and $1.2M investments respectively. You may also access this article through our web-site http://www.lokvani.com/ |
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