TiE Delhi partners with Power2SME

NEW DELHI, INDIA: TiE Delhi; a global network of entrepreneurs, professionals and new companies established to foster entrepreneurship and nurture entrepreneurs in association with Power2SME, India's first ‘Buying Club' for the SMEs, announced the kick-off of the annual series of ‘Spirit of Manufacturing Awards', at TiECon Delhi 2013.

This first-of-its kind of initiative is aimed at applauding innovation and entrepreneurship in the manufacturing domain.

The award will provide a platform to showcase some of the most promising start-ups in the manufacturing domain across the country. The awards aim to encourage innovation and entrepreneurship in the country and provide the necessary visibility, ecosystem and mentorship for these start-ups to scale their operations in the sector. The nominations for the awards will be open from October 2013- March 2014. Companies that are less than five years in operation are eligible to file their nominations.

R. Narayan, founder and CEO, Power2SME, said: "The Spirit of Manufacturing award is dedicated to the entrepreneurs in the manufacturing industry. We believe that the manufacturing industry has a huge potential and hence, there is a need to encourage, applaud and recognize innovation in this sector.

"This annual series will help provide the much needed visibility for innovation in the manufacturing industry and also help start-ups in this industry with the mentorship and ecosystem required for the organization to grow to the next level. We hope that Power2SME, in association with TiE is able to make a difference to the manufacturing industry thereby enabling the India growth story."

On his association with TiE for this award, he added: "TiE is one of the most prestigious niche associations dedicated to nurture entrepreneurs. We believe that Ti, with its legacy of supporting and mentoring entrepreneurs, is the perfect partner for this initiative. TiECon Delhi makes for a perfect platform for us to launch this award as it gives us the opportunity to reach out to thousands of entrepreneurs, under one roof."

"The Spirit of Manufacturing award is dedicated to recognize innovation in the manufacturing sector. The manufacturing industry is one of most potent contributors to the growth of the Indian economy. It is our continuous endeavor to encourage entrepreneurship across varied sectors. This initiative with Power2SME will enable us to make an impact in the manufacturing industry and foster entrepreneurship in that domain," said, Subinder Khurana, chairman, TiE Delhi Chapter.

The award will invite nominations from small, medium and large companies in the manufacturing space (with less than five years of operation). The companies would be required to highlight the innovation in their organization and how it has helped the company to carve a differentiated positioning. The application will go through two rounds of evaluation leading to the declaration of the finalists; it will be conducted by a renowned jury, experts and industry veterans.

Post this, the finalists will undergo a mentoring program to help them prepare for a final round of presentation in front of the jury. The winners will be announced in a gala event in the month of April 2014.

TiE Delhi is hosting the 11th edition of TiEcon Delhi. The 2 day mega event, TiEcon Delhi 2013, is being held in Hotel Taj Palace, New Delhi on October 4-5, 2013. TiEcon Delhi 2013 is one of the largest entrepreneurship forums which aim at creating an exciting and vibrant entrepreneurial ecosystem in India.