TiE Silicon Valley has already partnered with the SAP Startup Focus program. Now we are accepting applications for our new accelerator, TiE LaunchPad. Enterprise startups receive $50,000 in convertible notes, and their choice of a dedicated mentor like Sanjay Shirole from the Startup Focus team or others from a vast pool of serial entrepreneurs, VCs, CIOs, CMOs and other tech execs. Up to eight companies will be accepted and will get the chance to tap into our immense TiE network for market validation and early customer development. The first batch starts in January and deadline to apply is November 15, 2013.
The accelerator uses a unique ‘mentor funded’ model in which most mentors are also investors in the fund providing the seed notes. Part of the fund returns are also allocated to TiE. This combination gives tremendous incentive for the mentors to make companies successful. The accelerator takes an entrepreneur-friendly fee of 3% common equity, and has optional working space in Santa Clara, CA, for the 5-month program. Startups solving enterprise problems in analytics, cloud, mobile, and infrastructure can learn more and apply at www.tielaunchpad.com.
Prashant Shah, Managing Director at TiE LaunchPad