Last night was the final of the TiE Sydney Business Planning Contest and I was invited to join the panel of judges. The event was held at the MLC Centre, at the facilities provided by the NSW Department of State & Regional Development, a great supporter of TiE.
Well-attended by TiE members and guests, the evening was challenging for the contestants and stimulating for all. Five finalists had been selected the previous month, via an exciting Pitching Contest (five minutes to sell your dream!) that saw 18 contestants go for broke.
The finalists were:
Ahimsa Systems: This startup's vision is to empower individuals to improve their quality of life by managing their health in a secure and supportive environment. Founder Dr Uma Srinivasan presented the benefits of their RedMynt Personal Health Record to the ecosystem and the push by the Australian Federal Government to support private sector providers of such services.
IPScape: An established company with real clients and real revenue (always a plus!), this company is leading the Saas (software as a service) push into Call/Contact Centres that are burdened by high capital costs yet have an inflexible platform that cannot be rapidly scaled for bursts of demand. Founder Simon Burke pitched their 'cloud' technology and plan for expansion in both Australia and new markets in Asia including India.
Requisite Technologies: A startup aiming to transform the driver training industry with a comprehensive, online Driver Training Dashboard, this company is trialling their solution in Australia and wants to expand into the United Kingdom as well. Co-founder Pratyush Chalasani presented their plans to make life easier and more productive for driving instructors while improving learning outcomes for their clients.
Marziplanner: Already established as the #2 Wedding Planner product worldwide, this little company is already cash positive with a DIY software product used by brides to plan their elaborate nuptial events. Founder Ilka Brookes now wants to take the product into the enormous Indian market, where wedding extravaganzas with 3,000 guests are not uncommon!
Each contestant presented their plan and was quizzed by the panel as well as the audience. When the panel retired to come to a decision the audience also voted on their popular choice. As it happened, the same company was picked by the judges as well as the audience:
Marziplanner!Ilka Brookes won the day with her knockout presentation, her understanding of the customers' pain (Bridezillas' notwithstanding) and passion for building a business with very little money or resources. We felt she had a good opportunity in India but would benefit from a local business partner and some mentoring from TiE - India can be a tough market for outsiders.
Ilka wins a free ticket to New Delhi, courtesy of TiE and member Arnold D'Souza (
http://www.acrtravel.com.au/), and will attend
TiECON New Delhi on 18-19 September 2009. This will be a great opportunity for Ilka to make connections and perhaps find an investor for her Indian adventure.
TiE Sydney is the local chapter of the global
TiE organisation - the world's largest not-for-profit entrepreneur network. We run monthly events that attract entrepreneurs, wannabes and anyone interested in making the world a better place!