The group plans to kick off a search to find three-to-four start-ups that have the potential to be billion-dollar companies, and will crown them as ‘Billion Dollar Babies"
The Indus Entrepreneurs (TiE) Chennai, a non-profit network of entrepreneurs and professionals, has charted out what is perhaps its most ambitious goal yet.
The group plans to kick off a search to find three-to-four start-ups that have the potential to be billion-dollar companies, and will crown them as ‘Billion Dollar Babies” in the making at its flagship TiECON event later this year.
“I am confident that the programme will serve as a platform for encouragement and recognition and instil the ‘I can do it’ culture and mindset among all aspiring entrepreneurs. The search will be for Chennai and Tamil Nadu start-ups and will be led by a panel of experts,” Cognizant Vice-Chairman Lakshmi Narayanan, who is also the President of TiE Chennai, told reporters here on Thursday.
While there will be no specific sector from which these potential billion dollar companies will be chosen, it will also not be restricted to those start-ups that are associated or part of TiE Chennai.
The potential of the start-ups will be looked at, according to senior members of TiE Chennai, as some of the companies that are eventually chosen may be in the concept stage.
When asked whether giving start-ups the ‘billion dollar baby’ title could prove embarrassing for TiE Chennai or put extra pressure on the start-ups, several members of TiE Chennai said that the move would have positive effects too.
R. Narayanan, Chairman of the event’s program committee, pointed out that it was the first time such a forecast was being made.
“This is perhaps the first time globally that such an audacious forecast is being made. We at TiE strongly believe that showcasing these ‘Billion Dollar Babies’ will provide a fresh impetus to young entrepreneurs to dream big pursue their dream with unrelenting passion,” he said.